| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 73rd | Best |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10328 Venitia Real Ave, Tampa, FL, 33647, US |
| Region / Metro | Tampa |
| Year of Construction | 1999 |
| Units | 24 |
| Transaction Date | 2020-11-24 |
| Transaction Price | $61,175,000 |
| Buyer | CROSS CREEK LLC |
| Seller | ADDISON PARK LIMITED PARTNERSHIP |
10328 Venitia Real Ave Tampa Multifamily Investment
Positioned in an A+ inner-suburban Tampa neighborhood, this 24-unit asset benefits from steady neighborhood occupancy and a broad renter base, according to WDSuite’s CRE market data. Strong local incomes and schools underpin demand while allowing disciplined rent and retention strategies.
The property is set within a high-performing inner suburb that ranks competitive among Tampa-St. Petersburg-Clearwater neighborhoods (24th of 710) with an A+ neighborhood rating, based on CRE market data from WDSuite. Neighborhood occupancy sits in the mid-90s, a level that typically supports income stability for well-managed communities.
Livability is a key draw. Schools in the neighborhood are top-tier (1st of 710; top percentile nationally), with abundant parks and childcare access. Immediate grocery and restaurant density is lighter, so residents commonly use nearby retail corridors; assets that offer on-site conveniences can benefit in this context.
At the neighborhood level, the share of housing units that are renter-occupied is roughly half, indicating meaningful depth in the tenant pool and demand durability for multifamily. Within a 3-mile radius, population and households have grown and are projected to continue expanding, with slightly smaller average household sizes ahead—factors that can broaden the renter base and support occupancy.
Home values are elevated and household incomes are high in the area, conditions that often sustain reliance on quality rentals and can support pricing power where amenities, unit finishes, and management are competitive. For investors conducting multifamily property research, the combination of strong schools, recreational access, and stable occupancy creates a favorable backdrop, with the caveat that leasing strategies should account for the area’s lighter immediate retail mix.
Neighborhood safety indicators are around the national middle overall (approximately the 52nd percentile nationwide). Recent data show property offenses declining notably year over year, which is constructive for perceptions of area stability. The latest year’s estimate for violent offenses moved higher, so continued monitoring and standard on-site measures (lighting, access control) remain prudent from an operations standpoint.
For investors, the mixed trend underscores focusing on property-level management practices while tracking subsequent data releases from WDSuite for neighborhood context. Comparative metro framing is useful, but day-to-day resident experience typically hinges on the asset’s security, maintenance, and community engagement.
Nearby employers span insurance, financial services, healthcare, medical distribution, and a major grocer’s headquarters—diversifying the employment base that supports renter demand and commute convenience for residents.
- MetLife Insurance Company — insurance (3.6 miles)
- Raymond James — financial services (12.0 miles)
- Wellcare — healthcare services (16.0 miles)
- Wellcare Health Plans — healthcare services (16.1 miles) — HQ
- Cardinal Health — medical distribution (18.1 miles)
Built in 1999, the asset is slightly older than the neighborhood’s average vintage, suggesting manageable capital planning with selective modernization to remain competitive against newer stock. According to CRE market data from WDSuite, neighborhood occupancy is in the mid-90s, supported by strong schools, high household incomes, and elevated ownership costs that reinforce sustained reliance on quality rentals.
Within a 3-mile radius, population and households have expanded and are projected to grow further, pointing to a larger tenant base over time. While immediate grocery and restaurant density is lighter and safety trends are mixed year over year, these factors can be addressed through amenity programming, targeted marketing to nearby employment centers, and standard security best practices.
- Mid-90s neighborhood occupancy supports income stability with disciplined operations
- Strong schools and high local incomes underpin durable renter demand and pricing power
- 1999 vintage offers value-add and modernization levers to sharpen competitive positioning
- 3-mile population and household growth expands the tenant base over the medium term
- Risks: lighter immediate retail mix and mixed safety trend require proactive asset management