| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 31st | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13214 Bunn Cir, Tampa, FL, 33612, US |
| Region / Metro | Tampa |
| Year of Construction | 1973 |
| Units | 24 |
| Transaction Date | 2019-09-19 |
| Transaction Price | $6,300,000 |
| Buyer | BE GREENBRIAR LLC |
| Seller | WYNKOOP GREENBRIAR LLC |
13214 Bunn Cir Tampa Multifamily Opportunity
Workforce-oriented demand and neighborhood occupancy in the low-90s suggest steady leasing potential, based on CRE market data from WDSuite. Proximity to major employers and daily-needs retail supports tenant retention and rent collections through most cycles.
Located in Tampa’s inner suburbs, the property sits in a neighborhood rated B (ranked 337 of 710 within the Tampa–St. Petersburg–Clearwater metro), indicating competitive positioning among local peers. Grocery and pharmacy access are particular strengths—the area ranks among the highest in the metro (grocery 2 of 710; pharmacy 1 of 710) and falls in the 99th–100th national percentiles, which typically supports day-to-day convenience and leasing stability, according to WDSuite’s CRE market data.
Renter-occupied housing represents a substantial share within a 3-mile radius (about two-thirds of units), signaling a deep tenant base for multifamily. Population and household counts in this 3-mile area expanded over the last five years and are projected to grow further through the forecast period, pointing to a larger pool of prospective renters and support for occupancy. Forecasts also indicate slightly smaller average household sizes, which can modestly increase demand for apartment units relative to larger homes.
Local median contract rents benchmark in the low-$1,000s and have risen meaningfully over the past five years, while neighborhood occupancy trends remain in the low-90s. Together, these dynamics suggest durable renter demand, though pricing power may need to be managed carefully to sustain retention.
The asset’s vintage is 1973, older than the neighborhood’s average construction year of 1981. That age profile often implies a mix of capital planning and value-add opportunity—from building systems and common areas to in-unit finishes—to maintain competitiveness against newer stock while targeting rent premiums where upgrades align with local demand.
Safety trends are mixed when viewed across scales. Within the Tampa metro, the neighborhood’s crime rank (154 of 710) indicates higher crime than many local areas. Nationally, overall crime conditions align around the mid-range (roughly mid-50s percentile), while violent incidents test below the national median. Recent year-over-year estimates show notable declines in both violent and property offenses, suggesting improving momentum compared with prior readings. Investors should consider standard security measures and property management practices appropriate for the submarket.
The immediate area draws from a diversified employment base in financial services and healthcare, supporting workforce housing demand and commute convenience. Nearby anchors include Raymond James, MetLife Insurance Company, Wellcare, Wellcare Health Plans, and Cardinal Health.
- Raymond James — financial services offices (4.2 miles)
- MetLife Insurance Company — insurance (5.9 miles)
- Wellcare — healthcare services & corporate offices (6.8 miles)
- Wellcare Health Plans — healthcare plans (7.0 miles) — HQ
- Cardinal Health — healthcare distribution (13.6 miles)
This 24-unit asset benefits from a deep renter pool and daily-needs accessibility that supports occupancy durability. Neighborhood grocery and pharmacy density ranks among the top in the metro, and 3-mile demographics point to population and household growth that can expand the tenant base. According to CRE market data from WDSuite, neighborhood occupancy has held in the low-90s, aligning with steady demand for workforce-oriented units.
Built in 1973, the property is older than nearby stock on average, creating scope for targeted value-add and capital planning to enhance competitiveness versus newer product. While rent levels have trended upward, local incomes and rent-to-income readings suggest affordability pressure is a watchpoint; disciplined lease management and renovation scope can help balance rent growth objectives with retention. Safety indicators are improving year over year but remain mixed relative to metro and national benchmarks, warranting prudent on-site measures.
- Demand depth supported by a high renter concentration within 3 miles and steady neighborhood occupancy
- Daily-needs retail density (grocery and pharmacy) enhances livability and leasing stability
- 1973 vintage offers clear value-add and capital planning pathways to improve competitiveness
- Population and household growth in the 3-mile area expand the prospective tenant base
- Risks: affordability pressure (rent-to-income), and mixed but improving safety trends warrant active management