| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 52nd | Fair |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 13618 N Florida Ave, Tampa, FL, 33613, US |
| Region / Metro | Tampa |
| Year of Construction | 1974 |
| Units | 111 |
| Transaction Date | --- |
| Transaction Price | $4,950,000 |
| Buyer | Listing |
| Seller | TV MHC LLC |
13618 N Florida Ave Tampa Multifamily Value-Add Opportunity
Neighborhood occupancy sits in the low-90s and amenity access is solid, pointing to stable renter demand; according to WDSuite’s CRE market data, this inner-suburb location has performed above the metro median on several livability measures.
Positioned in Tampa’s inner suburbs, the neighborhood ranks in the top quartile among 710 metro neighborhoods, indicating competitive fundamentals for Class B multifamily. Amenity access is a relative strength versus national norms, with grocery and childcare density above the national median, while park access is limited—an underwriting consideration for outdoor-focused tenants.
Construction year is 1974, older than the local average vintage (1981). For investors, that typically means prioritizing capital planning for systems, unit interiors, and common-area modernization to stay competitive with newer stock, while creating value-add potential through renovations and curb appeal upgrades.
Within a 3-mile radius, population and household counts have grown and are projected to continue expanding, supporting a larger tenant base. Renter-occupied housing comprises a meaningful share of units (about 57%), which helps sustain demand depth and reduces lease-up volatility for 111-unit assets in this scale range.
Neighborhood occupancy is 93.2% and has improved over the past five years, a constructive signal for cash flow stability. Home values sit near the national median, suggesting a market where ownership is attainable for some households; investors should account for modest competition from entry-level ownership while leveraging the area’s rent-to-income positioning to support retention and measured rent growth.
Safety outcomes are below the national median, and the area ranks below the metro average (546 out of 710 neighborhoods). In national terms, crime indicators sit in lower percentiles, so investors should incorporate security measures and tenant-experience planning into underwriting and operations.
Recent year-over-year data indicate a notable uptick in violent offense rates, while property offense levels sit below mid-range percentiles nationally. For risk management, operators may consider lighting, access controls, and community engagement to support resident retention and reduce non-revenue events over the hold period.
The nearby employment base blends financial services and healthcare, supporting workforce housing demand and commute convenience for renters. Notable employers include Raymond James, Wellcare/Wellcare Health Plans, MetLife Insurance, and Cardinal Health.
- Raymond James — financial services offices (3.1 miles)
- Wellcare — healthcare administration (5.9 miles)
- Wellcare Health Plans — healthcare administration (6.0 miles) — HQ
- MetLife Insurance Company — insurance (6.6 miles)
- Cardinal Health — medical distribution (14.3 miles)
This 111-unit 1974 asset offers a clear value-add angle in a competitive Tampa inner-suburb location. Neighborhood occupancy of 93.2% and a meaningful renter-occupied housing base point to demand resilience, while nearby employers in finance and healthcare support leasing velocity and retention. According to CRE market data from WDSuite, the neighborhood sits in the top quartile among metro peers and benefits from above-median amenity access, with room to enhance positioning through targeted renovations.
Home values near national medians and a favorable rent-to-income posture suggest measured pricing power without overextending affordability, though entry-level ownership can present some competition. Limited park access and a below-median safety profile warrant operational focus on security and community programming to protect cash flow and tenant satisfaction.
- Value-add potential from 1974 vintage and scope to modernize systems and interiors
- Demand depth supported by 3-mile renter concentration and expanding household base
- Proximity to finance and healthcare employers supports leasing and retention
- Risks: below-median safety profile and limited park access; consider security investments and amenity programming