| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 30th | Poor |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4150 Portillo Rd, Spring Hill, FL, 34608, US |
| Region / Metro | Spring Hill |
| Year of Construction | 2001 |
| Units | 40 |
| Transaction Date | 2025-05-14 |
| Transaction Price | $5,800,000 |
| Buyer | 4150 PORTILLO APARTMENTS LLC |
| Seller | PORT APTS INC |
4150 Portillo Rd Spring Hill Multifamily Investment
Neighborhood occupancy has been stable and renter concentration is competitive within the Tampa metro, according to WDSuite’s CRE market data. These are neighborhood-level indicators, suggesting depth of demand that can support steady leasing for this asset.
Located in Spring Hill’s inner-suburban fabric of the Tampa–St. Petersburg–Clearwater metro, the neighborhood carries a B rating and ranks above the metro median (317 of 710) — a signal of balanced fundamentals for workforce-oriented rentals rather than a luxury-amenity play. Neighborhood occupancy is above the metro median, pointing to generally steady leasing conditions at the submarket scale (these are neighborhood metrics, not property-level performance).
Renter-occupied housing represents a meaningful share of units locally and sits in the top quartile nationally by renter concentration, indicating a larger tenant base for multifamily and support for occupancy stability. Within the metro, the renter share is competitive among peer neighborhoods as well, reinforcing demand depth for smaller-format units.
Livability drivers lean practical: childcare, parks, and pharmacy access rank above national averages, while cafes are sparse and restaurants are moderate — consistent with an inner-suburb that prioritizes daily conveniences over destination retail. Average school ratings are comparatively weak, which can weigh on family-driven demand but has less impact on studios and smaller one-bed formats common in workforce housing.
Within a 3-mile radius, population and household counts have grown and are projected to continue rising through 2028, expanding the renter pool and supporting lease-up and retention strategies. Homeownership sits in a relatively high-cost context versus incomes (upper national quartile by value-to-income), which tends to sustain reliance on rental housing; at the same time, a rent-to-income ratio around 0.20 suggests manageable affordability pressure that can aid retention and limit turnover for well-managed assets.
Construction vintage in the area skews slightly newer than the regional average. With a 2001 build, this property is newer than the neighborhood’s average stock (late 1990s), lending it competitive positioning versus older assets while still warranting targeted system updates and selective common-area refreshes to support rent growth and reduce near-term capex surprises.
Neighborhood-level crime rankings were not available in WDSuite for this location at the time of analysis. Investors typically contextualize safety by comparing multi-year metro and neighborhood trends and by reviewing local public data and property-specific incident history during diligence, rather than relying on block-level snapshots.
Regional employment access is anchored by large insurance, financial services, healthcare, and technology employers across the Tampa Bay corridor, supporting commuter demand and lease retention for workforce housing. The following nearby employers help underpin the renter base mentioned above.
- MetLife Insurance Company — insurance (27.0 miles)
- Raymond James — financial services (27.5 miles)
- Wellcare Health Plans — healthcare services (31.5 miles) — HQ
- Tech Data — IT distribution (40.7 miles) — HQ
- Raymond James Financial — financial services (42.3 miles) — HQ
This 40-unit, 2001-vintage asset in Spring Hill benefits from a neighborhood with above-median metro occupancy and a renter-occupied share that ranks in the national top quartile — dynamics that typically support steady tenant demand and manageable turnover. Livability favors everyday conveniences (childcare, parks, pharmacies) over destination retail, aligning with workforce housing. Ownership costs are relatively elevated versus incomes, which sustains reliance on rentals, while a rent-to-income ratio near 0.20 points to manageable affordability pressure for lease retention, based on commercial real estate analysis from WDSuite.
Relative to older late-1990s stock nearby, the 2001 vintage offers competitive positioning with potential to capture incremental rent through targeted updates rather than heavy repositioning. Population and households within a 3-mile radius are growing and projected to expand further, indicating a larger tenant base over the medium term that can reinforce occupancy stability.
- Above-median neighborhood occupancy and strong renter concentration support demand stability
- 2001 construction offers competitive positioning versus older local stock with selective upgrade upside
- Growing 3-mile population and households expand the tenant base and support lease retention
- Ownership costs relatively high versus incomes bolster reliance on rentals and pricing power
- Risks: weaker school ratings and limited cafe/amenity density may temper family-driven demand; major employers are regional, adding commute time