| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Fair |
| Demographics | 22nd | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13617 Fletcher Regency Dr, Tampa, FL, 33613, US |
| Region / Metro | Tampa |
| Year of Construction | 1985 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | $4,287,500 |
| Buyer | F W PTNR |
| Seller | GLENDALE FED BK |
13617 Fletcher Regency Dr Tampa Multifamily Investment
High renter concentration and everyday amenity access in the neighborhood point to durable leasing demand, according to WDSuite’s CRE market data. Investors should view this as a workforce-oriented location where occupancy stability is supported more by local service employment and convenience than by luxury drivers.
This Inner Suburb pocket of Tampa offers strong daily convenience for tenants. Neighborhood amenity density is competitive among Tampa-St. Petersburg-Clearwater neighborhoods, with cafes and restaurants performing well relative to the metro (cafes rank competitive among 710 neighborhoods and grocery access sits in the top quartile of the metro). Nationally, the area trends in the top quartile for parks and pharmacies, which can aid leasing and retention for residents prioritizing short trips for essentials.
Neighborhood occupancy stands in the mid- to upper-80s and has edged up over the past five years, per WDSuite. While that level sits below the national median for similar neighborhoods, the upward trend supports a baseline of demand. Renter-occupied housing is exceptionally prevalent here (one of the highest renter concentrations in the metro and 99th percentile nationally), indicating a deep tenant base for multifamily product.
Within a 3-mile radius, population and household counts have grown and are projected to continue expanding through 2028, pointing to a larger tenant base over time. Average household size is trending modestly lower, which can sustain demand for smaller formats and stabilize occupancy. School ratings are below average locally, which may matter for family-oriented leasing strategies but is less likely to be decisive for workforce renters.
The 1985 vintage positions the asset newer than the neighborhood’s prevailing 1970s stock, supporting relative competitiveness versus older properties. Investors should still plan for modernization of aging systems and select unit upgrades to meet renter expectations and defend pricing.
Neighborhood safety benchmarks sit below national medians based on WDSuite’s CRE market data, with both violent and property offense levels placing in lower national percentiles compared with neighborhoods nationwide. However, year-over-year trends indicate improvement, with notable declines in estimated violent and property offense rates. For investors, this trajectory suggests risk that should be underwritten, alongside the potential for perception gains if improvements persist.
Compared with the 710 neighborhoods across the Tampa-St. Petersburg-Clearwater metro, the area’s crime positioning is closer to the metro middle than the top tier. Use conservative assumptions for security, lighting, and site-level operations, while recognizing that recent downtrends may support leasing if they continue.
Nearby corporate offices in financial services and healthcare support a steady commuter tenant base, reinforcing demand for workforce apartments. Key employers include Raymond James, MetLife, Wellcare/Wellcare Health Plans, and Cardinal Health.
- Raymond James — financial services offices (4.1 miles)
- MetLife Insurance Company — insurance (5.9 miles)
- Wellcare — health insurance (6.8 miles)
- Wellcare Health Plans — health insurance (6.9 miles) — HQ
- Cardinal Health — healthcare distribution (13.8 miles)
Positioned in a renter-heavy Inner Suburb of Tampa, this 24-unit asset benefits from deep tenant demand supported by strong daily conveniences and commuting access. Neighborhood occupancy has trended upward, and, according to CRE market data from WDSuite, amenity access compares well within the metro. Demographic indicators within a 3-mile radius show continued growth in population and households, which should expand the renter pool and support occupancy stability over the medium term.
Built in 1985, the property is newer than much of the surrounding 1970s stock, offering a relative edge versus older assets while still warranting selective modernization and capital planning. Investors should underwrite affordability pressure (elevated rent-to-income ratios locally) and below-average school ratings as potential leasing and retention considerations, while leveraging the location’s convenience and broad renter base to maintain steady performance.
- High renter concentration supports a deep tenant base and consistent leasing.
- Amenity-rich location (groceries, cafes, parks, pharmacies) aids retention and rent resilience.
- 1985 vintage is competitive versus older neighborhood stock, with value-add through modernization.
- 3-mile population and household growth increase the renter pool, supporting occupancy stability.
- Risks: affordability pressure (higher rent-to-income), below-average school ratings, and safety metrics below national medians.