| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 37th | Poor |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4299 E Sewaha St, Tampa, FL, 33617, US |
| Region / Metro | Tampa |
| Year of Construction | 1988 |
| Units | 20 |
| Transaction Date | 2006-01-05 |
| Transaction Price | $900,000 |
| Buyer | HFSF 1 LLC |
| Seller | 4299 SEWAHA LLC |
4299 E Sewaha St Tampa Multifamily Investment
Renter demand is supported by an above-median neighborhood occupancy level and a high share of renter-occupied units, according to WDSuite’s CRE market data. The investment angle centers on durable workforce housing dynamics in an inner-suburban Tampa location.
This inner-suburban pocket of Tampa shows above metro median occupancy and a high renter concentration, signaling a sizable tenant base and steadier lease-up potential for smaller assets. Neighborhood occupancy trends rank above the metro midpoint (240 out of 710 neighborhoods, per WDSuite), while renter-occupied housing is notably high relative to both the metro and nation. For investors, this suggests depth of demand for studios and smaller units like those found at the subject property.
The 1988 construction is newer than the neighborhood’s average vintage (1979), which can help competitive positioning versus older stock. Investors should still plan for targeted system updates or light modernization to sharpen curb appeal and operating efficiency while maintaining competitive rents.
Local amenities skew practical: restaurant density trends above national norms and grocery access is comparatively strong, while parks, pharmacies, and cafes are thinner in the immediate area. This pattern fits workforce-oriented renter profiles that prioritize essentials and commute convenience over lifestyle amenities. School rating data is not reported for this neighborhood, so education quality should be assessed through additional diligence.
Within a 3-mile radius, recent data indicates population and households have grown, with projections calling for further household increases by 2028. Rising median incomes in the same radius point to gradual improvement in spending power and a larger tenant pool, supporting occupancy stability and renewal prospects. At the same time, WDSuite shows a high value-to-income ratio in the neighborhood, indicating a high-cost ownership market that tends to sustain rental demand—though elevated rent-to-income levels warrant active lease management and renewal strategies.
Neighborhood safety indicators sit above the metro median (crime rank 297 out of 710 Tampa–St. Petersburg–Clearwater neighborhoods), but trail the national average (42nd percentile nationally), according to WDSuite. In practical terms, the area compares reasonably within the metro, though it does not register among the safer neighborhoods nationally.
Recent trend data is directionally positive: estimated violent and property offense rates have declined year over year, with improvement pacing better than many U.S. neighborhoods. For investors, the takeaway is a market showing incremental progress, but ongoing monitoring and standard property-level safety measures remain prudent.
Nearby employers span finance, insurance, and healthcare administration, supporting workforce housing demand and commute convenience for renters. Key names include MetLife, Raymond James, Wellcare, and Cardinal Health within a roughly 7–11 mile radius.
- MetLife Insurance Company — insurance (6.9 miles)
- Raymond James — financial services offices (7.1 miles)
- Wellcare — healthcare services (8.4 miles)
- Wellcare Health Plans — healthcare services (8.5 miles) — HQ
- Cardinal Health — healthcare distribution (10.8 miles)
This 20-unit, small-format asset aligns with an inner-suburban Tampa neighborhood where occupancy is above the metro median and renter-occupied share is high, indicating depth in the tenant base. According to commercial real estate analysis from WDSuite, the area’s ownership costs run high relative to incomes, which tends to reinforce reliance on rentals even as household incomes trend upward within a 3-mile radius. The 1988 vintage is newer than the neighborhood average, offering competitive positioning versus older stock, with scope for targeted upgrades to enhance rents and retention.
Forward-looking indicators are constructive: population and household counts within 3 miles have risen and are projected to grow further by 2028, expanding the renter pool and supporting occupancy stability. Risks remain around affordability pressure (elevated rent-to-income levels) and modest national positioning on safety metrics, but recent crime rate improvements and workforce employer proximity provide offsetting supports.
- Above-median neighborhood occupancy and high renter concentration support stable leasing and renewals.
- 1988 vintage is newer than local average, with value-add potential via targeted modernization.
- 3-mile radius shows past and projected growth in households, expanding the tenant base and supporting occupancy.
- High-cost ownership landscape reinforces multifamily demand, aiding pricing power with careful lease management.
- Risks: affordability pressure (elevated rent-to-income) and below-average national safety positioning warrant active management and monitoring.