| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 37th | Poor |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 750 Malibu Bay Dr, West Palm Beach, FL, 33401, US |
| Region / Metro | West Palm Beach |
| Year of Construction | 2005 |
| Units | 24 |
| Transaction Date | 2020-08-28 |
| Transaction Price | $38,000,000 |
| Buyer | MALIBU BAY PRESERVATION LTD |
| Seller | EXECUTIVE TRUST LTD |
750 Malibu Bay Dr West Palm Beach Multifamily Investment
Stabilized renter demand supported by a high-cost ownership market and an above-median neighborhood occupancy profile, according to WDSuite’s CRE market data. For investors, the location offers everyday convenience and workforce access that can sustain leasing velocity.
Located in an inner-suburban pocket of West Palm Beach, the property sits in a neighborhood rated B- with an overall rank of 173 out of 319 metro neighborhoods—roughly around the metro middle but with several investor-friendly advantages. Neighborhood occupancy ranks 82 out of 319, placing it above the metro median, a positive indicator for leasing stability. The 2005 vintage is slightly newer than the neighborhood’s average construction year of 2000, which can support competitive positioning versus older stock while still warranting routine system updates over a long hold.
Daily needs are well covered: grocery access sits in the 73rd percentile nationally, restaurants in the 93rd percentile, and pharmacies in the 98th percentile. Parks, cafes, and childcare options are thinner within the immediate neighborhood, which investors should factor into resident amenity expectations and marketing. Taken together, the amenity profile is above the metro median (amenity rank 130 of 319) and competitive for everyday convenience.
Within a 3-mile radius, WDSuite data shows population growth alongside a faster increase in households and families, pointing to smaller average household sizes and a broadening tenant base. The share of housing units that are renter-occupied is a majority within this 3-mile area, which supports depth of demand for multifamily. Forward-looking projections indicate additional renter pool expansion, which can help sustain occupancy and reduce lease-up risk when paired with disciplined operations and pragmatic commercial real estate analysis.
Ownership costs in the neighborhood are elevated relative to incomes (value-to-income sits in a high national percentile), reinforcing reliance on rental options and supporting pricing power when balanced against resident affordability. Neighborhood median contract rents trend above the national middle, and five-year rent growth has been positive—useful context for underwriting renewal and trade-out assumptions.
Safety indicators are mixed and should be evaluated comparatively. The neighborhood’s crime rank is 285 out of 319 metro neighborhoods, signaling higher incident levels than the metro average, and its national safety standing is below the midpoint. That said, property offenses declined year over year, which suggests some recent easing in non-violent categories even as violent offense measures warrant continued monitoring.
Investors should underwrite security line items and resident experience accordingly, using recent trend data and submarket comps rather than block-level assumptions. Positioning that emphasizes on-site visibility, lighting, and partnership with professional management can help mitigate exposure and support retention.
Proximity to corporate offices underpins workforce housing demand and commute convenience for residents. Nearby employers include financial services, food distribution, and corporate headquarters that collectively broaden the potential renter base and support retention.
- Siegel Financial Group - Northwestern Mutual — financial services (1.36 miles)
- Sysco Southeast Florida — food distribution (3.38 miles)
- NextEra Energy — energy utility corporate offices (9.82 miles) — HQ
- Office Depot — office supplies corporate offices (21.78 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare corporate offices (31.04 miles)
This 24-unit asset at 750 Malibu Bay Dr offers exposure to a renter-oriented West Palm Beach neighborhood with occupancy performance above the metro median and convenient proximity to employment. The 2005 construction is newer than the neighborhood average, supporting competitiveness versus older stock while still requiring standard capital planning for mid-life systems and potential value-add repositioning.
Household and family counts are rising within a 3-mile radius, widening the tenant base and supporting long-run leasing fundamentals. Elevated ownership costs locally tend to reinforce rental demand, though rent-to-income ratios signal affordability pressure that merits conservative renewal and trade-out assumptions. According to CRE market data from WDSuite, neighborhood metrics suggest steady demand with practical upside through operational execution rather than reliance on speculative growth.
- Above-median neighborhood occupancy and a majority renter-occupied housing base within 3 miles support demand depth and leasing stability.
- 2005 vintage offers competitive positioning versus older stock, with clear pathways for targeted value-add or system upgrades.
- Strong everyday convenience (grocery, restaurants, pharmacies) and access to major employers bolster retention potential.
- Ownership costs remain elevated relative to incomes, supporting sustained renter reliance and pricing power when managed carefully.
- Risks: affordability pressure (high rent-to-income ratios) and area safety readings below metro averages require prudent underwriting and on-site management focus.