| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 68th | Good |
| Amenities | 30th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1420 E Venice Ave, Venice, FL, 34292, US |
| Region / Metro | Venice |
| Year of Construction | 1988 |
| Units | 112 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1420 E Venice Ave Venice Multifamily Investment
Situated in a predominantly owner-occupied pocket of Venice, the area’s limited renter concentration suggests modest direct competition while household growth within a 3-mile radius expands the prospective tenant base, according to WDSuite’s CRE market data. Neighborhood occupancy and amenity depth vary by category, so underwriting should emphasize retention and leasing strategies rather than assuming uniform demand.
Livability is shaped by a suburban setting with strong access to parks and dining at the neighborhood level, while everyday services are thinner locally. Park coverage ranks among the top neighborhoods metro-wide (11 out of 218), placing the area in the top quartile nationally for parks. Restaurants are relatively dense (81st percentile nationally), but cafes, groceries, and pharmacies are limited within the immediate neighborhood, indicating residents often draw services from nearby corridors. These patterns support a calmer residential environment but require a practical approach to convenience-oriented amenities onsite.
The property’s 1988 vintage is older than the neighborhood’s average construction year of 1994, which points to potential value-add through modernization and selective capital planning. For investors, upgrades to interiors, common areas, and building systems can enhance relative competitiveness against younger stock while managing long-term maintenance.
Tenure mix at the neighborhood level skews heavily toward owner-occupied housing, with a low share of renter-occupied units. For multifamily investors, that implies a shallower immediate renter pool but also fewer direct rental comparables, positioning well-executed assets to capture demand from households preferring professionally managed housing or seeking flexibility.
Demographics aggregated within a 3-mile radius indicate population growth over the last five years and a projected increase in both households and income through the next cycle. Forecasts show continued renter pool expansion and rising median household income alongside higher projected asking rents. In practice, this combination supports occupancy stability for competitively positioned assets, while calling for proactive lease management to balance pricing power and renewal risk.
Home values in the neighborhood sit above many national peers, and value-to-income metrics trend higher than average. In a high-cost ownership context, professionally managed apartments can retain residents longer and support rent integrity, provided operators align unit finishes and service levels with expectations.
Neighborhood safety benchmarks are generally favorable in a metro context and solid in national comparisons. The neighborhood’s overall crime rank sits above the metro median (93 out of 218 neighborhoods), and safety levels align with the 62nd percentile nationally, indicating comparatively better conditions than many U.S. neighborhoods.
By category, violent offenses are in the top tier of safety relative to the nation (91st percentile), while property offenses also compare well overall (87th percentile). Recent data, however, shows a year-over-year uptick in property incidents at the neighborhood level. Investors should account for this trend with standard measures such as lighting, access control, and visibility, and monitor updated readings as part of ongoing risk management, based on CRE market data from WDSuite.
Regional employers contribute to a diversified labor base, with access patterns more commuter-oriented than walkable. The presence of an industrial gas supplier supports logistics and industrial employment that can feed workforce housing demand at a regional scale.
- Airgas Store — industrial gases & supplies (23.1 miles)
With 112 units and a 1988 vintage, this asset offers scale and potential value-add via modernization against a largely owner-occupied backdrop. Neighborhood-level renter concentration is low, but 3-mile demographics point to growth in households and incomes, supporting a larger tenant base over time. Parks and dining are strong locally, while daily services are thinner, suggesting that onsite conveniences and property operations can materially influence retention.
According to CRE market data from WDSuite, neighborhood safety trends compare favorably in national context, and home value metrics indicate a high-cost ownership market that can reinforce multifamily demand when product quality meets expectations. Underwriting should reflect selective capital planning, measured rent positioning relative to forecast growth, and standard security design to address recent increases in property incidents.
- Scale and value-add potential: 112 units with 1988 vintage supports renovation-driven NOI upside
- Expanding demand: 3-mile projections indicate household and income growth, supporting occupancy stability
- Competitive positioning: owner-heavy neighborhood means fewer direct rental comps for a well-operated asset
- Strong park/dining access: neighborhood strengths aid lifestyle appeal; onsite conveniences can offset thinner daily services
- Risks and mitigants: low local renter concentration and recent property-crime uptick require careful lease strategy and security design