| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 88th | Best |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2901 N Dale Mabry Hwy, Tampa, FL, 33607, US |
| Region / Metro | Tampa |
| Year of Construction | 1981 |
| Units | 24 |
| Transaction Date | 2005-11-30 |
| Transaction Price | $25,500,000 |
| Buyer | ARBOUR PONDS APARTMENTS LLC |
| Seller | FLORIDA SUNDANCE LP |
2901 N Dale Mabry Hwy Tampa Multifamily Value‑Add
Neighborhood renter demand is durable and amenity access is strong, according to WDSuite’s CRE market data, positioning this asset for operational improvements and potential rent optimization with disciplined execution.
Located in Tampa’s inner-suburban corridor, the neighborhood scores A+ overall and is competitive among Tampa–St. Petersburg–Clearwater neighborhoods (rank 13 of 710). Dining and daily-needs access are notably strong, with restaurant and grocery options indicating a well-served renter base. Childcare options are relatively limited locally, which may skew appeal toward singles, young professionals, and downsizing households.
Renter concentration is high at the neighborhood level, with 73.8% of housing units renter-occupied. For investors, this depth of renter-occupied housing supports a larger tenant pool and steadier leasing velocity through typical turnover cycles. Neighborhood occupancy is reported at 87.5% (neighborhood metric, not property-specific), suggesting lease management and targeted marketing can be important drivers of performance.
Within a 3-mile radius, demographics point to a growing renter pool: population and households have trended upward and are projected to continue rising over the next five years, expanding the addressable tenant base and supporting occupancy stability. Median household income has strengthened alongside rent growth, and the neighborhood’s rent-to-income ratio near 0.25 suggests manageable affordability pressure that can aid retention while still requiring disciplined renewal strategies.
Home values in the neighborhood sit around mid-range nationally, which implies some competition from entry-level ownership. For multifamily, this typically means balancing pricing power with retention-focused asset management to limit move-outs to ownership. The average neighborhood construction year skews newer (1995); with a 1981 vintage, this property may trail newer stock on finishes and systems, creating a clear value-add path through targeted renovations and capital planning.
Safety trends are mixed. The neighborhood ranks 392 out of 710 within the metro on crime, placing it below the metro median and below the national median (36th percentile nationwide). That said, estimated property offenses have declined modestly year over year, and violent offense trends have been roughly flat. Investors often account for this by reinforcing on-site management, lighting, and access controls while emphasizing the area’s accessibility and amenity strengths.
Nearby corporate offices help sustain weekday traffic and multifamily leasing, with a concentration of healthcare and technology employers that support workforce housing and commuter convenience for residents.
- Wellcare Health Plans — corporate offices (5.5 miles) — HQ
- Raymond James — corporate offices (8.8 miles)
- Cardinal Health — corporate offices (10.4 miles)
- Jabil Circuit — corporate offices (11.1 miles) — HQ
- Tech Data — corporate offices (12.9 miles) — HQ
This 24-unit, 1981-vintage property offers a straightforward value-add thesis in a neighborhood with strong amenities and a sizable renter base. Based on CRE market data from WDSuite, the surrounding neighborhood’s renter concentration and growing 3-mile population support demand depth, while the asset’s older vintage points to renovation upside to improve competitiveness versus the area’s newer average stock.
Operationally, neighborhood occupancy is moderate and indicates the importance of leasing execution and resident retention. Household income growth and mid-range ownership costs suggest room to push rents through upgrades, while still managing affordability to limit move-outs to ownership. The combination of strong employer access, amenity density, and demographics provides a constructive backdrop for long-term performance, with standard execution and capex risks to underwrite.
- Large neighborhood renter base supports tenant demand and leasing velocity.
- 1981 vintage offers value-add potential via interior and system upgrades.
- Amenity-rich inner suburb with access to regional employers aids retention.
- Income growth and mid-range ownership costs create room for targeted rent optimization.
- Risks: neighborhood safety ranks below metro median and occupancy is mixed, requiring strong on-site management and leasing execution.