| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Poor |
| Demographics | 16th | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 905 22nd St, West Palm Beach, FL, 33407, US |
| Region / Metro | West Palm Beach |
| Year of Construction | 1985 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
905 22nd St, West Palm Beach Multifamily Opportunity
Renter demand is supported by a high neighborhood renter-occupied share and a high-cost ownership market, according to WDSuite’s CRE market data. With 1985 construction, the asset is newer than much of the surrounding housing stock, positioning it competitively versus older inventory.
The property sits in an Inner Suburb of West Palm Beach where daily-needs access is a clear strength. Neighborhood amenity density for groceries (ranked 18 out of 319 metro neighborhoods; top quartile nationally) and restaurants (37 out of 319; top quartile nationally) is robust, and parks access (41 out of 319; top quartile nationally) adds lifestyle convenience. Childcare availability is also a relative bright spot (7 out of 319; top percentile nationally), while cafes and pharmacies are comparatively limited.
Neighborhood renter-occupied share is 65.5%, indicating a deep tenant base for multifamily. For investors, this concentration tends to support steady leasing and reduces exposure to for-sale competition. Neighborhood occupancy has trended upward over the past five years, which can help stabilize performance at the sub-neighborhood level, though it remains below many metro peers.
Within a 3-mile radius, the population and household counts have grown in recent years and are projected to expand further over the next five years. Households are increasing faster than population, implying smaller household sizes and a larger pool of potential renters—supportive of absorption and lease-up velocity for professionally managed apartments.
The average housing vintage nearby skews older (1950s). With a 1985 construction year, the subject asset is newer than much of the local stock, which can enhance competitiveness versus older properties. That said, systems and finishes may still benefit from targeted modernization to capture value-add returns.
Home values rank near the metro middle but sit in a high national percentile for value-to-income, signaling a high-cost ownership market that sustains rental reliance. At the same time, neighborhood rent-to-income is elevated, suggesting affordability pressure that owners should manage through tenant retention and measured renewal strategies.
Safety metrics indicate the neighborhood ranks 292 out of 319 metro neighborhoods for crime, placing it below the metro average and in lower national percentiles for safety. Recent year-over-year indicators show a modest uptick in both property and violent incidents. For investors, this typically argues for attentive property operations and partnerships that emphasize visibility, lighting, and access controls, alongside resident engagement.
Contextually, these figures are neighborhood-level—conditions can vary block to block and over time. Monitoring trend movement and comparing to nearby West Palm Beach sub-neighborhoods can help calibrate underwriting assumptions and operating plans.
The area draws on a diversified employment base that supports renter demand through commute convenience, including financial services, food distribution, and regional corporate offices noted below.
- Siegel Financial Group - Northwestern Mutual — financial services (1.5 miles)
- Sysco Southeast Florida — food distribution (2.8 miles)
- NextEra Energy — utilities & energy (8.6 miles) — HQ
- Office Depot — office supplies & services (23.0 miles) — HQ
This 40-unit, 1985-vintage asset offers relative competitiveness versus an older neighborhood housing base, with demand supported by a high renter-occupied share locally and expanding households within a 3-mile radius. According to CRE market data from WDSuite, neighborhood amenities score well for groceries, restaurants, and parks, reinforcing everyday convenience that helps leasing and retention even as occupancy remains below many metro neighborhoods.
Ownership costs in the area are elevated relative to incomes, which sustains reliance on rental housing; however, neighborhood rent-to-income is also high, requiring disciplined lease management. Security-conscious operations are prudent given weaker neighborhood safety rankings. Select renovations and operational focus can position the property to capture steady demand while balancing affordability and retention risks.
- Newer 1985 construction versus older neighborhood stock supports competitive positioning
- High neighborhood renter-occupied share and growing 3-mile households deepen the tenant base
- Strong grocery, restaurant, and park access supports leasing and retention
- Elevated ownership costs reinforce rental demand, with value-add potential via targeted updates
- Risks: below-metro neighborhood occupancy, affordability pressure, and weaker safety metrics necessitate attentive operations