| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 27th | Poor |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 705 S 29th St, Fort Pierce, FL, 34947, US |
| Region / Metro | Fort Pierce |
| Year of Construction | 1982 |
| Units | 60 |
| Transaction Date | 2007-07-18 |
| Transaction Price | $2,200,000 |
| Buyer | ORANGE APARTMENTS LLC |
| Seller | SP OWV APARTMENTS LLC |
705 S 29th St, Fort Pierce Multifamily Investment
Renter-occupied housing is prevalent in this Fort Pierce neighborhood, supporting a deeper tenant base and steadier leasing, according to WDSuite’s CRE market data. Occupancy trends are competitive within the Port St. Lucie metro, reinforcing an income-focused hold for a 60-unit property.
The neighborhood rates B and is an Inner Suburb within the Port St. Lucie metro, with livability anchored by daily-needs access. Parks and pharmacies score in the top quartile among 104 metro neighborhoods, and restaurants are similarly competitive, while café density is limited. Childcare availability is notably strong, ranked 1st out of 104, which can help family-oriented renter demand.
Neighborhood occupancy is competitive among Port St. Lucie neighborhoods (ranked 39 of 104), indicating stable renter demand rather than transient lease-up conditions. The share of renter-occupied housing is high for the area (ranked 4 of 104; high national percentile), which signals depth in the local tenant pool for multifamily operators. Median home values are lower relative to many U.S. neighborhoods, which can introduce some competition with ownership options and may temper pricing power, but it also broadens the resident pipeline for value-oriented rentals.
Demographic indicators aggregated within a 3-mile radius point to moderate population growth over the past five years and projections for further gains in both population and households, implying a larger renter pool over the medium term. Household size is trending smaller, which can support demand for well-laid-out mid-size units and sustain occupancy stability.
Vintage context: the property’s 1982 construction is slightly newer than the neighborhood average 1978 stock. This positioning can enhance competitiveness versus older buildings, while investors should still evaluate systems and common areas for targeted modernization to support retention and rent trade-outs.
Safety signals are mixed when benchmarked to the Port St. Lucie metro and national peers. The neighborhood’s overall crime rank is 33 out of 104 metro neighborhoods, indicating higher incident levels than many parts of the metro. Nationally, the area sits below the median for safety, but recent trends show a notable decline in violent-offense estimates year over year, while property-offense measures have edged up. Investors should underwrite with conservative assumptions and focus on security, lighting, and resident engagement to support retention.
Regional employment access is driven by distribution and corporate utility offices, supporting commute convenience for a workforce renter base tied to logistics and energy.
- CVS Distribution Center — distribution (17.7 miles)
- NextEra Energy — utilities/corporate offices (43.97 miles) — HQ
705 S 29th St offers a 60-unit footprint with average unit sizes near 930 square feet, positioned in a B-rated Inner Suburb where renter-occupied housing is prevalent and neighborhood occupancy ranks competitively within the metro. According to CRE market data from WDSuite, amenity access is strongest for parks, pharmacies, and restaurants at the metro level, while café options are thinner. The property’s 1982 vintage is slightly newer than the local average, suggesting relative competitiveness versus older stock; selective upgrades to interiors and common areas can further support retention.
Within a 3-mile radius, past growth and forward projections point to increases in both population and households, indicating a larger tenant base and potential for sustained occupancy. Lower local home values may create some competition with ownership, and rent-to-income dynamics suggest pockets of affordability pressure, so disciplined lease management and amenity programming remain important.
- Competitive neighborhood occupancy and high renter concentration support leasing stability
- 1982 construction provides an edge versus older stock, with targeted value-add potential
- Metro-top-quartile access to parks, pharmacies, and restaurants enhances livability
- 3-mile radius projections indicate a growing renter pool, supporting occupancy over time
- Risks: below-median school ratings, safety rank below metro leaders, and affordability pressure may limit pricing power