| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 47th | Fair |
| Amenities | 9th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4605 Georgia Pines Dr, West Palm Beach, FL, 33415, US |
| Region / Metro | West Palm Beach |
| Year of Construction | 2009 |
| Units | 24 |
| Transaction Date | 2006-10-04 |
| Transaction Price | $400,000 |
| Buyer | JACOBS GEORGIA JEAN |
| Seller | MONTANTE GAETANO |
4605 Georgia Pines Dr West Palm Beach Multifamily
2009 construction provides competitive positioning versus older nearby stock, with neighborhood-level occupancy showing recent improvement according to WDSuite’s CRE market data.
Positioned in West Palm Beach’s inner-suburban fabric, the property benefits from a large 3-mile renter pool and steady household expansion. Within a 3-mile radius, households and families have grown in recent years, and forecasts call for further population growth and a meaningful increase in households by 2028. For investors, that points to a larger tenant base and support for leasing velocity and occupancy stability over the hold period.
The building’s 2009 vintage compares favorably to a neighborhood average construction year of 1977 among 319 metro neighborhoods, suggesting relative competitiveness versus older stock and potentially lower near-term capital needs. Value-add remains viable through selective modernization of systems and finishes to widen the target renter profile.
Neighborhood-level rents have risen over the past five years, and WDSuite’s commercial real estate analysis indicates further rent growth in the broader 3-mile area. At the same time, the rent-to-income environment can create affordability pressure, so proactive lease management and renewal strategies are important to sustain pricing power without elevating turnover risk.
Local amenity density is modest (few cafés, groceries, parks, and childcare within the immediate neighborhood), so residents typically rely on nearby corridors for daily needs. Investors should underwrite with an emphasis on on-site conveniences, parking, and ease of access to employment centers to enhance retention when walkable options are limited.
Tenure dynamics within a 3-mile radius show a substantial share of housing units are renter-occupied, which supports depth of demand for multifamily product. Neighborhood occupancy is measured for the area, not the property, and has trended upward in recent years, signaling improving absorption conditions at the local level.
Safety indicators are mixed but generally supportive when viewed in context. Violent-crime comparisons are strong, ranking among the safer areas nationally, and recent year-over-year trends show a notable decrease in violent incidents, according to WDSuite’s CRE market data. Property-crime metrics are comparatively favorable on a national basis as well, though recent movement warrants routine monitoring during asset management.
Neighborhood safety varies by block and over time. Investors should prioritize standard measures such as lighting, access control, and community engagement, and review current comps and police blotter trends alongside insurer feedback to align underwriting with prevailing conditions in the West Palm Beach–Boca Raton–Boynton Beach metro (319 neighborhoods).
Proximity to regional employers supports workforce renter demand and commute convenience, with a mix of financial services, foodservice distribution, energy, and retail headquarters contributing to a diversified employment base.
- Siegel Financial Group - Northwestern Mutual — financial services (6.1 miles)
- Sysco Southeast Florida — foodservice distribution (9.3 miles)
- NextEra Energy — energy & utilities (15.8 miles) — HQ
- Office Depot — retail corporate offices (16.0 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (25.1 miles)
This 24-unit, 2009-vintage asset offers relative competitive positioning versus older neighborhood stock while tapping into a broad 3-mile renter base that has expanded and is projected to grow further. Neighborhood-level occupancy has improved in recent years, and rent growth across the surrounding area provides a tailwind, according to CRE market data from WDSuite. Limited immediate amenities favor properties that deliver on-site convenience and strong operations.
Forward drivers include proximity to major employers, a sizable share of renter-occupied housing within 3 miles, and rent growth potential. Key underwriting considerations are affordability pressure in the tenant base and variable amenity access, which place a premium on resident experience, renewal strategy, and targeted capex.
- 2009 construction compared to older local stock supports leasing and moderates near-term capital planning
- Expanding 3-mile renter pool and forecast household growth underpin demand and occupancy stability
- Area rent trends and employer access support revenue growth potential
- On-site conveniences can offset limited walkable amenities and enhance retention
- Risk: affordability pressure and mixed safety signals require careful renewal and security management