| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 19th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 823 Sunrise Blvd, Fort Pierce, FL, 34950, US |
| Region / Metro | Fort Pierce |
| Year of Construction | 1974 |
| Units | 29 |
| Transaction Date | 2007-07-12 |
| Transaction Price | $1,500,000 |
| Buyer | 823 SUNRISE APTS LLC |
| Seller | SUNRISE BLVD APARTMENTS LLC |
823 Sunrise Blvd Fort Pierce Multifamily Investment
Renter-occupied housing is a meaningful share of the neighborhood, supporting a durable tenant base amid solid amenity access, according to WDSuite’s CRE market data. Positioning focuses on workforce demand and value-add potential rather than luxury lease-up.
Located in Fort Pierce’s inner-suburban fabric of the Port St. Lucie metro, the neighborhood rates competitive among 104 metro neighborhoods (ranked 27th), with above-average amenity coverage versus national peers. Cafes, pharmacies, groceries, parks, and restaurants score in higher national percentiles, reinforcing daily convenience for renters and supporting retention and leasing momentum.
Neighborhood renter concentration is substantial: the share of housing units that are renter-occupied ranks in the upper tier nationally (84th percentile). For investors, this indicates depth of tenant demand and supports ongoing leasing velocity for small and midsize multifamily assets. Neighborhood occupancy has trended upward over the past five years, which can help stabilize cash flows even if rent growth moderates.
Within a 3-mile radius, population has expanded and households have grown, with forecasts pointing to additional population growth and a larger household base by 2028. This expansion implies a broader renter pool and supports occupancy stability. Median contract rents in the neighborhood have risen meaningfully over the past five years, based on CRE market data from WDSuite, which aligns with continued renter demand rather than oversupply.
The submarket’s ownership landscape shows elevated home value-to-income ratios compared with national norms, which tends to sustain reliance on rental housing and can support pricing power and lease retention. Average school ratings are below national averages, which may limit appeal for some family renters; however, the area’s amenity access and everyday services provide livability advantages for workforce households and singles.
The property’s 1974 vintage is older than the neighborhood’s average construction year. Investors should plan for targeted capital improvements and modernization, which can unlock value-add upside and enhance competitive positioning versus newer inventory.
Neighborhood safety indicators sit below national medians, with property crime and violent offense metrics tracking weaker than nationwide percentiles. Even so, recent trends show improvement: violent offenses have declined year over year, and property crime has eased modestly, according to WDSuite’s CRE market data. For investors, this suggests monitoring remains prudent, but directional trends have been favorable.
Within the Port St. Lucie metro, the area does not rank among the safest neighborhoods, yet the downward movement in violent incidents provides a constructive signal for operational stability. Underwriting should incorporate proactive security measures and daytime activation via amenity and service proximity, which can support resident satisfaction and retention.
The nearby labor base blends logistics/distribution and energy/utilities, supporting renter demand and commute convenience for workforce-oriented households.
- CVS Distribution Center — logistics & distribution (19.0 miles)
- NextEra Energy — energy/utilities (43.1 miles) — HQ
823 Sunrise Blvd offers a workforce-oriented positioning supported by a sizable renter base, everyday services, and rising household counts within a 3-mile radius. The neighborhood is competitive within the metro and shows improving occupancy trends, while elevated ownership costs relative to incomes reinforce multifamily demand and help underpin leasing durability.
Built in 1974, the asset likely benefits from targeted renovations and system upgrades to strengthen its standing against newer stock. According to CRE market data from WDSuite, neighborhood rents have advanced over the past five years and violent offenses have declined year over year, supporting a steadying backdrop. Underwriting should balance value-add upside with attention to below-average school ratings and safety metrics that are still behind national medians.
- Renter-heavy neighborhood supports demand depth and leasing stability
- Amenity access (food, pharmacies, parks) enhances livability and retention
- Value-add potential from 1974 vintage via targeted upgrades
- Household and population growth within 3 miles broadens the tenant base
- Risks: safety and school ratings below national medians; plan for capex and security