| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 52nd | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3200 N Haverhill Rd, West Palm Beach, FL, 33417, US |
| Region / Metro | West Palm Beach |
| Year of Construction | 2005 |
| Units | 60 |
| Transaction Date | 2013-07-01 |
| Transaction Price | $7,000,000 |
| Buyer | CFH Group, LLC |
| Seller | Aviva Real Estate Investors |
3200 N Haverhill Rd West Palm Beach Multifamily Investment
Neighborhood occupancy is competitive within the West Palm Beach-Boca Raton-Boynton Beach metro and sits above national averages, according to WDSuite’s CRE market data. The investment case centers on steady renter demand and newer-vintage positioning that supports leasing durability.
This inner suburb carries a C- neighborhood rating, but it benefits from occupancy levels that are competitive among the 319 metro neighborhoods and above national norms. The property’s 2005 construction is newer than the neighborhood’s average vintage (1986), providing relative competitiveness versus older stock while still warranting routine capital planning as systems age.
Amenity density within the neighborhood is limited (few cafes, groceries, parks, or pharmacies inside the immediate boundary), so residents likely rely on short drives for daily needs. For investors, this typically concentrates demand around well-managed communities that deliver on-site convenience and unit quality.
Renter-occupied housing comprises roughly half of neighborhood units, indicating a substantial tenant base that supports leasing stability. At the same time, a higher rent-to-income reading for the neighborhood signals some affordability pressure, suggesting attention to renewals and rent steps to manage retention.
Within a 3-mile radius, population and household counts have expanded and are projected to continue growing, pointing to a larger tenant base over the next five years. Household size is trending smaller, which can sustain demand for a mix of unit types and consistent occupancy. Home values in the neighborhood are lower relative to many U.S. areas, which may add some ownership competition; however, regional rent levels and household growth continue to support depth in the renter pool based on CRE market data from WDSuite.
Safety indicators compare favorably at the national level, with violent offense metrics positioned in a stronger national percentile and property offenses also above national averages. Within the West Palm Beach-Boca Raton-Boynton Beach metro, performance is more mixed across the 319 neighborhoods, so investors should underwrite to property-level security, lighting, and management protocols rather than block-level assumptions.
Recent trend data shows year-over-year declines in both violent and property offense estimates, which is constructive for long-term operations. Use local trend monitoring and resident feedback to calibrate safety-related capex and policies over the hold period.
The nearby employment base mixes financial services, foodservice distribution, energy, office supplies, and healthcare administration, supporting commuter convenience and diversified renter demand for workforce and professional households.
- Siegel Financial Group - Northwestern Mutual — financial services (3.4 miles)
- Sysco Southeast Florida — foodservice distribution (3.6 miles)
- NextEra Energy — energy (10.0 miles) — HQ
- Office Depot — office supplies (22.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (30.7 miles)
This 60-unit asset’s investment profile centers on stable renter demand, competitive neighborhood occupancy, and newer-vintage positioning. Built in 2005, the property should compare well against older area stock while still requiring prudent reserves for systems and common-area updates. Demand is reinforced by a renter concentration near half of neighborhood units and by 3-mile population and household growth that expands the tenant base and supports occupancy stability.
Neighborhood amenities are limited within the immediate boundary, but diversified nearby employers and metro-level connectivity help sustain day-to-day leasing. Affordability signals point to some rent-to-income pressure, so operators should emphasize renewals, customer service, and measured rent steps. According to commercial real estate analysis from WDSuite, local occupancy outperforms national averages, and recent safety trends have improved, which supports underwriting for steady operations with balanced risk controls.
- Competitive neighborhood occupancy and steady tenant base support leasing durability
- 2005 vintage offers relative competitiveness versus older stock with manageable capex
- 3-mile population and household growth expand the renter pool and support occupancy
- Proximity to diversified employers underpins workforce and professional renter demand
- Risks: amenity-light immediate area and affordability pressure require careful renewal strategy