| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 73rd | Best |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10202 Altavista Ave, Tampa, FL, 33647, US |
| Region / Metro | Tampa |
| Year of Construction | 1997 |
| Units | 24 |
| Transaction Date | 2020-11-24 |
| Transaction Price | $61,175,000 |
| Buyer | CROSS CREEK LLC |
| Seller | ANDOVER PLACE NORTH PARTNERSHIP |
10202 Altavista Ave Tampa Suburban Multifamily Investment
Neighborhood-level occupancy is in the mid-90s with a renter-occupied share near half of housing units, supporting stable leasing dynamics according to WDSuite’s CRE market data. Strong school quality and solid amenity access further underpin long-term renter demand at the submarket edge.
Located in Tampa’s inner suburbs, the property sits in a neighborhood rated A+ and ranked 24 out of 710 metro neighborhoods, placing it in the top quartile among Tampa-St. Petersburg-Clearwater submarkets by WDSuite’s composite score. For investors, this signals durable fundamentals relative to the metro, supported by high household incomes (above the national median by percentile) and consistent renter demand.
Livability indicators are favorable for family-oriented renters: the neighborhood’s average school rating is the highest in the metro (ranked 1 of 710) and in the top tier nationally. Park access scores in the top quartile nationally, while cafes and pharmacies are comparatively abundant. Immediate grocery and restaurant density within the neighborhood is limited, so residents likely rely on nearby corridors for daily retail.
For rental demand, neighborhood occupancy measures around the mid-90s and the renter-occupied share sits just above half of housing units, indicating a deep tenant base and potential for steady renewals. Construction trends point to a relatively newer housing stock locally (average vintage 2001). With this asset built in 1997, investors should plan for targeted capital projects to maintain competitive positioning against slightly newer comparables and to capture value-add upside.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to continue expanding, implying a larger tenant base over time. Rising median incomes in this radius and elevated neighborhood home values create a high-cost ownership context that can reinforce reliance on multifamily rentals, supporting pricing power and lease retention. Median contract rents for the neighborhood sit above many national peers, yet rent-to-income ratios remain manageable in percentile terms, which helps mitigate near-term affordability pressure.
Safety indicators are mixed when viewed against national benchmarks. Overall crime levels sit near the national middle by percentile, suggesting conditions broadly comparable to many U.S. neighborhoods rather than an outlier on either end.
Property-related offenses have declined sharply year over year, a constructive sign for perceptions and asset operations. Violent-offense metrics, however, trend less favorably versus national comparisons. Investors should monitor these trends over time at the neighborhood level and incorporate prudent on-site measures (lighting, access control, and community engagement) consistent with institutional standards.
Nearby white-collar employment anchors support commuter convenience and broaden the renter pool, led by insurance, financial services, managed care, and healthcare distribution employers within a short to moderate drive.
- MetLife Insurance Company — insurance (3.2 miles)
- Raymond James — financial services (11.6 miles)
- Wellcare — managed care (15.6 miles)
- Wellcare Health Plans — managed care (15.7 miles) — HQ
- Cardinal Health — healthcare distribution (18.1 miles)
This 24-unit, 1997-vintage asset benefits from a high-performing inner-suburb location where neighborhood occupancy is in the mid-90s and renter concentration approximates half of units—conditions that typically support steady leasing and renewals. According to CRE market data from WDSuite, the neighborhood ranks in the top quartile among 710 metro neighborhoods and is supported by top-ranked schools and strong amenity coverage, factors that tend to deepen the renter pool and sustain demand.
Investor focus centers on steady demand, value-add potential relative to slightly newer local stock, and demographic expansion within a 3-mile radius. Elevated home values and rising incomes create a high-cost ownership landscape that can reinforce reliance on multifamily housing, while neighborhood-level rent-to-income metrics indicate manageable affordability pressure for many households. Key watch items include mixed safety signals and limited immediate grocery/restaurant density, which may require positioning around convenience and community features.
- Top-quartile neighborhood among 710 metro areas with strong schools and parks supporting renter demand
- Mid-90s neighborhood occupancy and a sizable renter-occupied base support leasing stability
- 1997 vintage offers targeted value-add potential versus slightly newer local comparables
- High-cost ownership context and rising incomes bolster reliance on multifamily rentals
- Risks: mixed safety metrics and limited immediate retail/grocery density require thoughtful asset positioning