| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Fair |
| Demographics | 70th | Best |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4309 W North B St, Tampa, FL, 33609, US |
| Region / Metro | Tampa |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | 2023-04-05 |
| Transaction Price | $3,000,000 |
| Buyer | KRZYSZTOF POPRAWSKI REVOCABLE LIVING TRUST |
| Seller | POUND WILLIAM |
4309 W North B St, Tampa Multifamily Investment
Inner-suburb location with strong amenity access and a stable renter base supports leasing durability, according to WDSuite’s CRE market data. Neighborhood occupancy trends trail national norms but have held relatively steady, indicating manageable risk with thoughtful operations.
Location and neighborhood standing: The property sits in an Inner Suburb of Tampa ranked in the top quartile among 710 metro neighborhoods (A- rating), signaling competitive positioning for multifamily demand versus the broader market.
Amenity depth is a clear advantage for resident retention. Restaurant density is exceptionally high (top percentiles nationally), cafes are plentiful, and pharmacies score well versus peers, while immediate access to parks and full-service groceries is thinner. For operators, this mix can support day-to-day convenience and leasing interest, with some reliance on short drives for certain errands.
Housing and renter dynamics suggest a workable tenant base. The neighborhood’s share of renter-occupied units is roughly one-third, indicating diversified tenure that can support absorption without overreliance on one cohort. Median contract rents sit above many U.S. neighborhoods, while a rent-to-income ratio near 0.17 indicates generally moderate affordability pressure that can aid renewal stability.
Demographic indicators (aggregated within a 3-mile radius) show modest population growth over the last five years, an increase in households, and forecasts for further expansion by 2028. Slightly smaller average household size points to additional demand for rental units, supporting occupancy stability relative to the metro. Home values are elevated for the area compared with incomes, which tends to sustain rental demand by keeping more households in the renter pool.
Safety metrics for this neighborhood sit somewhat below national medians, indicating higher reported incidents than many U.S. neighborhoods. Within the Tampa metro, the area is not among the strongest performers on safety.
Recent trends are mixed: estimated property offenses have declined notably year over year, while violent offense indicators have moved the other direction. For underwriting, this suggests monitoring submarket trends and emphasizing standard security and tenant-engagement practices to support retention.
Nearby corporate employers provide a meaningful white-collar employment base that supports renter demand and commute convenience, notably in health plans, electronics manufacturing, and financial services.
- Wellcare — health plans (6.2 miles)
- Wellcare Health Plans — health plans (6.3 miles) — HQ
- Jabil Circuit — electronics manufacturing (9.6 miles) — HQ
- Raymond James — financial services (10.1 miles)
- Raymond James Financial — financial services (10.1 miles) — HQ
4309 W North B St is a 20-unit asset in a top-quartile Inner Suburb location where amenity access and a diversified renter base underpin steady leasing. Neighborhood occupancy trends have been relatively stable, though below national norms, suggesting performance is achievable with disciplined operations and market-competitive positioning. Elevated home values relative to incomes reinforce reliance on rental housing, while 3-mile demographics indicate population growth and a rising household count that point to a larger tenant base over the medium term. Based on commercial real estate analysis from WDSuite, local rent levels and rent-to-income dynamics imply manageable affordability pressure that can support renewals.
Built in 1973, the property may benefit from targeted value-add and systems modernization to stay competitive with newer stock, creating opportunities to enhance durability of cash flows. Proximity to major corporate employers adds leasing depth, while the immediate area’s limited parks and grocery options and mixed safety trends merit ongoing monitoring and asset-level mitigation.
- Inner-suburb, top-quartile neighborhood ranking within the Tampa metro supports durable renter demand
- Amenity-rich environment (restaurants, cafes, pharmacies) aids tenant retention despite thinner park/grocery access
- 3-mile population and household growth expand the tenant base and support occupancy stability
- 1973 vintage presents value-add and capex planning opportunities to improve competitive positioning
- Risks: neighborhood safety metrics below national medians and occupancy below national norms require active management