| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Best |
| Demographics | 90th | Best |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3810 W San Carlos St, Tampa, FL, 33629, US |
| Region / Metro | Tampa |
| Year of Construction | 1974 |
| Units | 50 |
| Transaction Date | 2021-09-29 |
| Transaction Price | $6,222,200 |
| Buyer | SAN CARLOS PLACE LLC |
| Seller | ARCON PROPERTIES LLP |
3810 W San Carlos St Tampa Multifamily Investment
Positioned in a high-demand inner-suburban pocket of Tampa with steady neighborhood occupancy, this asset offers durable renter demand and potential operational upside. Local fundamentals are favorable, according to CRE market data from WDSuite, with strong amenity access and income levels supporting rent performance.
This inner-suburban location benefits from dense amenity coverage that supports leasing and retention. Neighborhood cafes and restaurants rank in the top tier nationally, and grocery and pharmacy access are also strong, signaling daily convenience that can help minimize turnover and sustain absorption.
Schools benchmark at the top of the metro (among the leading options out of 710 neighborhoods), which adds family-friendly appeal and typically supports longer average tenancy. The broader neighborhood rating trends in the top quartile locally, reflecting balanced housing and demographic indicators that tend to correlate with stable multifamily operations, based on WDSuite’s multifamily property research.
Neighborhood occupancy is in the mid-to-high 90s with multi‑year improvement, indicating resilient renter demand. Renter-occupied housing units account for roughly a third of neighborhood stock, suggesting a meaningful but not saturated renter base that can support lease-up without excessive concessions.
Within a 3‑mile radius, population and household counts have grown and are projected to continue expanding through 2028, with households expected to rise substantially and average household size edging lower. For investors, this points to a larger tenant base and more one- to two-person renter households, supporting occupancy stability and diversified unit demand over the medium term.
Homeownership costs are elevated relative to local incomes in this neighborhood, which generally sustains reliance on rental housing and can reinforce pricing power for well‑positioned assets. At the same time, rent-to-income ratios remain manageable in the area, a positive for retention and lease management.
Safety indicators are mixed in relative terms. The neighborhood’s overall crime rank sits near the metro midpoint (329 out of 710 neighborhoods), aligning with a middle-of-the-pack profile locally. Nationally, property incident levels trend around the median, while violent incident levels track below national medians.
Recent trends are two‑sided: property incidents show year‑over‑year improvement, while violent incidents increased in the latest reading. Investors typically interpret this as a need for standard operational safeguards (lighting, access control, resident engagement) rather than a structural deterrent, and to monitor trends alongside citywide changes.
Nearby employment anchors across healthcare, electronics manufacturing, and financial services support a diverse renter base and commute-friendly appeal. The following employers represent meaningful drivers of steady housing demand for workforce and professional tenants in this submarket.
- Wellcare — health insurance (7.96 miles)
- Wellcare Health Plans — managed care (8.01 miles) — HQ
- Cardinal Health — healthcare distribution (9.36 miles)
- Jabil Circuit — electronics manufacturing (9.42 miles) — HQ
- Raymond James Financial — financial services (10.15 miles) — HQ
Built in 1974, the property is newer than the average neighborhood vintage, supporting competitive positioning versus older stock while still warranting targeted modernization of aging systems. Neighborhood occupancy remains high with multi‑year gains, and within a 3‑mile radius, households are projected to expand significantly by 2028—broadening the tenant base and supporting occupancy stability. Elevated ownership costs in the area tend to sustain renter reliance on multifamily housing, while rent-to-income levels remain manageable, aiding retention.
According to CRE market data from WDSuite, amenity access and top-tier school options (relative to 710 metro neighborhoods) enhance livability and help underpin leasing. Together with a diversified nearby employer base, these fundamentals point to durable demand and room for operational execution, with value-add upside through selective renovations and amenity refresh.
- High neighborhood occupancy and expanding 3‑mile household base support steady leasing and retention.
- 1974 vintage offers value‑add potential via targeted system upgrades and interior modernization.
- Elevated ownership costs reinforce rental demand and pricing power for well‑positioned units.
- Proximity to regional employers broadens the professional renter pool and supports lease stability.
- Risks: mixed safety trends and capex needs typical of 1970s assets require proactive management and monitoring.