| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2015 Blue Rock Dr, Tampa, FL, 33612, US |
| Region / Metro | Tampa |
| Year of Construction | 1985 |
| Units | 20 |
| Transaction Date | 2004-12-07 |
| Transaction Price | $11,500,000 |
| Buyer | STONEBROOK PROPERTY HOLDINGS LLC |
| Seller | FLORIDA FOREST PLACE HOLDINGS LLC |
2015 Blue Rock Dr Tampa Multifamily Investment
Strong renter concentration in the surrounding neighborhood supports tenant demand, while lease management will matter given below-metro occupancy, according to CRE market data from WDSuite.
Located in Tampa s inner suburb fabric, the neighborhood shows a deep renter base and everyday convenience that can underpin leasing. Renter-occupied units account for a high share of neighborhood housing (ranked 9 out of 710 metro neighborhoods), indicating a sizable tenant pool and potential demand depth for multifamily product. By contrast, the neighborhood s occupancy level is below the metro median (ranked 577 out of 710), suggesting investors should focus on asset positioning and professional management to drive retention.
Daily amenities are a relative strength. Grocery and pharmacy density rank among the most competitive in the metro (grocery rank 11 of 710; pharmacy rank 12 of 710), and the area supports a broad restaurant and cafe mix (restaurant rank 15; cafe rank 21 of 710), which can enhance resident convenience and leasing appeal. Park access and childcare density are limited at the neighborhood scale, which may slightly narrow appeal for some household segments.
Within a 3-mile radius, population and households have expanded over the last five years, with further gains forecast, pointing to a larger tenant base over time. Projections also indicate rising median incomes alongside higher asking rents, which can support revenue growth but may require careful affordability screening to sustain occupancy stability.
Median contract rents in the neighborhood rank above the national midpoint, while the rent-to-income ratio is elevated, signaling potential affordability pressure. For investors, this calls for thoughtful pricing, value-oriented unit finishes, and renewal strategies to maintain steady absorption and minimize turnover, based on CRE market data from WDSuite.
Safety indicators trail national norms, with the neighborhood falling below average on comparative crime measures. Translated to relative standing, the area performs below the metro median on safety (crime rank 475 out of 710 metro neighborhoods) and lands in lower national percentiles for both violent and property offenses. Recent trends show modest year-over-year declines in both property and violent offense rates, which is constructive but not yet a categorical shift.
For investors, this profile suggests emphasizing security-focused operations and resident engagement to support retention, while underwriting realistic marketing and operating costs that reflect the neighborhood s current safety position.
Nearby employers in finance, insurance, and healthcare distribution provide diverse job bases that can support renter demand and commuting convenience for residents. The list below reflects major names within a short drive that commonly draw a regional workforce.
- Raymond James
This 20-unit asset sits in a renter-heavy Tampa neighborhood with strong everyday amenities, which can support leasing and renewal velocity even as neighborhood occupancy trails the metro. Within a 3-mile radius, population and household growth are expanding the tenant base, and rising incomes alongside rent growth suggest room for revenue optimization with attention to affordability and unit positioning, based on commercial real estate analysis from WDSuite.
Operationally, elevated rent-to-income ratios point to a need for disciplined pricing, targeted renovations, and proactive resident services to sustain occupancy stability. The neighborhood s safety metrics warrant security-forward operations and underwriting that anticipates marketing and operating investments.
- Deep renter concentration supports a broad tenant pool and consistent leasing potential.
- Amenity-rich location (groceries, pharmacies, restaurants) enhances livability and retention.
- Expanding 3-mile population and household counts point to a larger future renter base.
- Pricing power possible with careful affordability management and value-focused upgrades.
- Risks: below-metro neighborhood occupancy and weaker safety indicators require hands-on operations and realistic expense underwriting.