| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 89th | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 440 S Rosemary Ave, West Palm Beach, FL, 33401, US |
| Region / Metro | West Palm Beach |
| Year of Construction | 1996 |
| Units | 20 |
| Transaction Date | 1994-11-28 |
| Transaction Price | $386,000 |
| Buyer | 400 ROSEMARY AVE OWNER LLC |
| Seller | BALLET VILLAGES HOUSING LIMITED PARTNERS |
440 S Rosemary Ave West Palm Beach 1996 Multifamily
Positioned in West Palm Beach’s urban core, the asset benefits from dense amenities and an educated renter base, according to WDSuite’s CRE market data. The key investor takeaway is durable demand drivers from location strengths, even as neighborhood occupancy trends warrant disciplined leasing assumptions.
This Urban Core location places 440 S Rosemary Ave within one of the West Palm Beach-Boca Raton-Boynton Beach metro’s highest-performing neighborhoods (ranked 2 of 319), reflecting strong overall fundamentals rather than a single cyclical factor. Amenity access is a notable advantage: food-and-beverage density ranks among the very best in the metro (restaurants and cafés both near the top of 319 neighborhoods) and sits in the top percentile nationally, supporting live-work-play appeal that underpins renter interest.
For investors evaluating rent positioning, neighborhood median contract rents benchmark high versus national norms (upper percentiles), while the local rent-to-income profile indicates comparatively lower affordability pressure than many U.S. neighborhoods. In parallel, neighborhood home values are elevated (upper national percentiles), a high-cost ownership context that can sustain multifamily demand and support retention for well-managed assets.
Workforce depth and demographics further support the case. Neighborhood demographics score in the upper national percentiles, and within a 3-mile radius WDSuite data indicates population growth alongside rising household counts and incomes, expanding the prospective renter pool. A sizeable share of nearby households rent, creating a deeper base for lease-up and renewal strategies, while smaller average household sizes in the area favor demand for professionally managed apartments.
Two counterpoints merit underwriting discipline. First, neighborhood occupancy is below national benchmarks and below the metro median (ranked 282 of 319), so operators should plan for proactive leasing and targeted concessions during turns. Second, the average construction vintage in the neighborhood trends newer than legacy stock; with a 1996 delivery, this asset may require strategic upgrades to remain competitive against newer inventory, though that also creates potential value-add levers.
Safety signals are mixed and should be considered in operations planning. Relative to neighborhoods nationwide, this area sits in lower national safety percentiles, and ranks in the weaker tier among the 319 metro neighborhoods. Year over year, WDSuite data indicates increases in both violent and property offense rates, so investors should underwrite appropriate security measures, lighting, and property management practices, and monitor how trends evolve versus the broader region.
While these are neighborhood-level indicators rather than block-specific measures, comparative framing remains useful: conditions are currently below national averages, making active asset management and resident engagement important parts of the business plan.
Nearby employers span financial services, food distribution, and corporate headquarters that broaden the commuter base and can support resident retention through job proximity. The list below highlights key names within practical commuting distance that are relevant to workforce housing dynamics.
- Siegel Financial Group - Northwestern Mutual — financial services (0.6 miles)
- Sysco Southeast Florida — food distribution (4.4 miles)
- NextEra Energy — energy utility (10.3 miles) — HQ
- Office Depot — office supplies (21.4 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (31.2 miles)
The 20-unit, 1996-vintage property sits in a top-ranked West Palm Beach neighborhood with outstanding amenity access and elevated household incomes. Based on CRE market data from WDSuite, neighborhood-level NOI per unit performs in upper national percentiles and home values are high relative to the U.S., both supportive of sustained renter demand and renewal potential. Within a 3-mile radius, population and households are growing, pointing to a larger tenant base ahead. Given newer competitive supply in the metro, a targeted renovation plan can sharpen positioning and capture value-add upside.
Balance these strengths against two considerations: neighborhood occupancy trails national benchmarks, implying the need for disciplined lease-up and marketing, and safety indicators trend weaker than national averages, warranting proactive on-site measures. The combination of location quality and operational focus should frame underwriting assumptions and capital planning.
- Urban Core location with top-tier amenity access supports durable renter demand
- 1996 vintage offers value-add potential to compete with newer stock
- High-cost ownership market reinforces reliance on professionally managed rentals
- Expanding 3-mile renter pool and income growth support occupancy stability and renewals
- Risks: below-metro occupancy rank and softer safety metrics require active leasing and security budgeting