| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 96th | Best |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 401 Harbour Place Dr, Tampa, FL, 33602, US |
| Region / Metro | Tampa |
| Year of Construction | 2002 |
| Units | 108 |
| Transaction Date | 2004-03-12 |
| Transaction Price | $1,425,000 |
| Buyer | HARBOUR PHASE II OWNERS LLC |
| Seller | POST APARTMENT HOMES LP |
401 Harbour Place Dr Tampa Multifamily Investment
Positioned in Tampa s Urban Core with dense amenities and a high-income renter base, this asset benefits from steady leasing fundamentals, according to WDSuite s CRE market data. Neighborhood-level indicators point to durable renter demand rather than dependence on a single driver.
Located in Tampa s Urban Core, the property sits amid one of the metro s higher-performing neighborhoods (A+ rating) with strong lifestyle access. Restaurant and grocery density rank competitive among Tampa s 710 neighborhoods and fall in the top quartile nationally, supporting convenience-driven leasing and resident retention.
Neighborhood housing stock skews relatively modern for the metro, and a 2002 construction year at the property positions it newer than the neighborhood average of 2000. For investors, that typically translates into better competitive positioning versus older inventory, while still planning for mid-life systems and selective common-area upgrades to sustain rentability.
A majority of housing units in the neighborhood are renter-occupied, indicating a deep tenant base for multifamily operators and supporting demand stability. Home values trend elevated for the area, which generally sustains reliance on rental housing and can support pricing power when paired with quality finishes and walkable access.
Within a 3-mile radius, demographics show population growth of 6.4% and household growth of 11.3% over the past five years, with forecasts through 2028 pointing to further expansion in both population and households. This enlarges the near-term renter pool and supports occupancy stability. Median incomes in the 3-mile area are high and rising, and current rent levels sit toward the upper end of the metro, based on CRE market data from WDSuite.
Safety indicators for the neighborhood track below the national median and below the metro average. In the Tampa-St. Petersburg-Clearwater metro context (710 neighborhoods), the neighborhood s safety rank places it in a weaker tier relative to peer areas. Nationally, it sits in a lower percentile for safety, so investors should underwrite appropriate security measures and operating practices.
Recent data also show year-over-year increases in both property and violent offense rates at the neighborhood level. While these are neighborhood-wide statistics rather than property-specific, prudent planning may include enhanced lighting, access controls, and community engagement to support resident experience and retention.
Proximity to major corporate offices underpins a steady professional renter base and commute convenience, including Cardinal Health, Wellcare, Wellcare Health Plans, Raymond James, and Jabil Circuit.
- Cardinal Health corporate offices (6.7 miles)
- Wellcare corporate offices (8.8 miles)
- Wellcare Health Plans corporate offices (8.9 miles) HQ
- Raymond James corporate offices (11.1 miles)
- Jabil Circuit corporate offices (13.0 miles) HQ
401 Harbour Place Dr combines Urban Core access, elevated neighborhood incomes, and a majority renter-occupied housing base that supports leasing durability. The property s 2002 vintage is slightly newer than the neighborhood average, offering competitive positioning versus older stock while warranting mid-life capital planning for building systems and targeted upgrades. Elevated local home values reinforce renter reliance on multifamily housing, and neighborhood rents are toward the high end of the metro. According to CRE market data from WDSuite, neighborhood-level rent growth over the past five years has been strong, and amenity density ranks among the metro s most competitive.
At the 3-mile scale, recent population and household growth with additional expansion forecast through 2028 signal a larger tenant base over time, supporting occupancy and rent trade-outs for well-positioned assets. Balanced underwriting should account for neighborhood safety metrics that lag metro and national medians, but proximity to major employers and walkable conveniences provides durable demand fundamentals.
- Urban Core location with top-tier amenity access supporting retention and lease-up
- 2002 vintage offers competitive positioning with manageable mid-life capex planning
- Majority renter-occupied neighborhood and elevated ownership costs support sustained rental demand
- 3-mile radius shows growing population and households, expanding the renter pool
- Risk: neighborhood safety metrics trail metro and national medians; underwrite security and operations accordingly