| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 41st | Fair |
| Amenities | 40th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4610 N Armenia Ave, Tampa, FL, 33603, US |
| Region / Metro | Tampa |
| Year of Construction | 1985 |
| Units | 24 |
| Transaction Date | 2014-10-14 |
| Transaction Price | $14,100,000 |
| Buyer | INFINITY BUENA VISTA LLC |
| Seller | WESTSIDE BUENA VISTA OWNER LLC |
4610 N Armenia Ave Tampa Multifamily Investment
Neighborhood occupancy has held in the low-90s and renter demand is supported by a high renter concentration and commute access to major employers, according to WDSuite’s CRE market data.
Located in Tampa’s Urban Core, the property benefits from steady renter demand and everyday convenience. Restaurants, groceries, and pharmacies are comparatively accessible (neighborhood amenities trend above national norms for those categories), while cafes and parks are limited—an operational consideration for marketing and retention strategies.
At the neighborhood level, the share of housing units that are renter-occupied is high (roughly two-thirds), indicating a deep tenant base and support for leasing velocity and renewal potential. The neighborhood’s occupancy rate sits near the metro middle and has trended upward over five years, which supports stability for small and mid-size multifamily assets.
The asset was built in 1985, newer than the neighborhood’s average vintage (1970s). For investors, that typically means stronger competitive positioning versus older stock, while still planning for aging systems, modernization, and selective value-add to meet renter expectations.
Within a 3-mile radius, demographics show a modest population dip in recent years alongside an increase in households, pointing to smaller household sizes and a larger renter pool. Forward-looking projections indicate growth in both population and households over the next five years, which should expand the tenant base and support occupancy stability. Elevated home values in the neighborhood signal a high-cost ownership market, which tends to reinforce reliance on rental housing and can aid lease retention; however, rent-to-income levels suggest some affordability pressure that warrants active lease management and pricing discipline. These dynamics are based on commercial real estate analysis from WDSuite.
Safety conditions are mixed relative to peers. The neighborhood sits on the higher-crime side of the metro, ranking 242 out of 710 Tampa–St. Petersburg–Clearwater neighborhoods, while trending roughly mid-pack nationally for property crime and below the national median for violent crime. Year over year, both violent and property offense rates have moved lower, an encouraging directional trend for operators to monitor over subsequent periods.
For investors, this translates to routine emphasis on lighting, access control, and resident engagement, while tracking whether the recent declines persist. Comparisons here reference neighborhood-level data rather than the property itself.
Proximity to regional employers underpins workforce housing demand and commute convenience, with nearby roles in health plans, financial services, healthcare distribution, insurance, and electronics manufacturing.
- Wellcare Health Plans — health plans (5.1 miles) — HQ
- Raymond James — financial services (7.4 miles)
- Cardinal Health — healthcare distribution (10.4 miles)
- MetLife Insurance Company — insurance (11.9 miles)
- Jabil Circuit — electronics manufacturing (12.9 miles) — HQ
4610 N Armenia Ave offers a 1985-vintage, small-scale multifamily asset positioned in a renter-heavy Urban Core submarket. Neighborhood occupancy has been steady and amenity access is strongest for daily needs (restaurants, groceries, pharmacies), supporting leasing and retention. The property’s newer-than-neighborhood vintage can compete against older stock, with room for selective upgrades to capture value-add upside. Elevated ownership costs locally reinforce reliance on rentals, while within a 3-mile radius forecasts point to growth in both population and households, expanding the tenant base and supporting occupancy stability.
Operationally, investors should balance pricing power with affordability considerations, as rent-to-income levels indicate pressure that can affect renewal strategy. Safety trends have improved year over year but remain an area to underwrite conservatively. These conclusions reflect neighborhood trends and comparables drawn from WDSuite’s CRE market data.
- Renter-heavy neighborhood and steady occupancy support demand depth and renewal potential.
- 1985 vintage offers competitive positioning versus older stock with targeted value-add upside.
- Strong access to daily-needs amenities (restaurants, groceries, pharmacies) aids leasing and retention.
- Expanding 3-mile population and household counts are poised to grow the renter pool and support occupancy stability.
- Risks: affordability pressure (rent-to-income), safety variability relative to metro, and limited parks/cafes to market around.