| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 44th | Fair |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4121 E Busch Blvd, Tampa, FL, 33617, US |
| Region / Metro | Tampa |
| Year of Construction | 2006 |
| Units | 24 |
| Transaction Date | 2019-05-16 |
| Transaction Price | $104,000 |
| Buyer | PROVANTAGE GROUP LLC |
| Seller | PINELLAS EQUITIES LLC |
4121 E Busch Blvd Tampa Multifamily Investment
Newer 2006 construction in an inner-suburb location targets a deep renter base and steady leasing, according to WDSuite’s CRE market data.
Situated in Tampa’s Inner Suburb, the property benefits from everyday conveniences and a renter-oriented housing mix. Neighborhood amenity access is competitive among 710 metro neighborhoods, with grocery and pharmacy availability ranking in the top cohort locally and strong restaurant density; by contrast, parks and cafes are limited. For investors, this mix supports daily needs and leasing practicality even without destination retail nearby.
The neighborhood skews renter-occupied, with a high renter concentration that signals depth in the tenant base and ongoing multifamily demand. Neighborhood occupancy has moderated over the past five years, which suggests operators should prioritize retention and renewals, but the renter base helps support ongoing leasing activity. Construction trends also matter: with an average neighborhood vintage from the late 1970s, a 2006 asset can compete well against older stock while still planning for mid-life system updates.
Within a 3-mile radius, population and households have grown in recent years and are projected to continue expanding, indicating a larger tenant pool ahead. Household size is trending smaller, which can support demand for multifamily units and sustain occupancy. Median household incomes have trended upward locally, and ownership costs relative to income are elevated by national comparison, which tends to reinforce reliance on rental housing and can support pricing power with disciplined lease management.
Rent levels in the neighborhood sit around the middle of the national distribution, while the rent-to-income profile points to some affordability pressure. For underwriting, this favors measured renewal increases and amenity-driven value creation over aggressive rent pushes. Overall, the submarket’s convenience retail, services, and commuter access position the asset for durable, needs-based demand, based on commercial real estate analysis from WDSuite.
Safety indicators track below national averages, with the neighborhood’s crime metrics positioned in the lower national percentiles. Within the Tampa–St. Petersburg–Clearwater metro, the crime rank sits around the middle of the pack (ranked 368 among 710 neighborhoods), suggesting safety outcomes are near the metro median.
Recent trends are mixed: property offense rates have improved year over year, while violent offense rates increased over the same period. For investors, these patterns point to the value of standard security measures and proactive property management to support tenant retention and leasing stability.
Nearby corporate offices in financial services, insurance, and healthcare support a solid commuter tenant base and reduce lease-up risk, with strong names represented within a short drive.
- Raymond James — financial services corporate offices (7.0 miles)
- MetLife Insurance Company — insurance corporate offices (7.1 miles)
- Wellcare — healthcare corporate offices (8.2 miles)
- Wellcare Health Plans — healthcare corporate offices (8.3 miles) — HQ
- Cardinal Health — healthcare distribution corporate offices (10.7 miles)
This 24-unit, 2006-vintage asset offers competitive positioning versus older neighborhood stock, with proximity to daily-needs retail and major employers supporting renter demand. The submarket’s high share of renter-occupied housing, together with household and population growth within a 3-mile radius, underpins a larger tenant base and can support occupancy stability as operators focus on renewals and resident experience. According to CRE market data from WDSuite, ownership costs relative to income are elevated by national comparison, which often sustains reliance on rentals and supports pricing power when paired with thoughtful lease management.
While neighborhood occupancy has eased in recent years and safety metrics track below national norms, the combination of renter depth, needs-based location, and a newer vintage relative to local stock presents a balanced long-term case. Capex planning should account for mid-life system updates and targeted amenities that reinforce retention.
- 2006 vintage competes well versus older neighborhood stock, lowering near-term modernization hurdles
- High renter-occupied share indicates depth of tenant base and supports leasing resilience
- 3-mile household and population growth expands the renter pool and supports occupancy stability
- Elevated ownership costs versus income reinforce reliance on rental housing and potential pricing power
- Risks: easing neighborhood occupancy, below-average safety metrics, and affordability pressure warrant conservative underwriting