| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 41st | Fair |
| Amenities | 40th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4900 N MacDill Ave, Tampa, FL, 33614, US |
| Region / Metro | Tampa |
| Year of Construction | 1976 |
| Units | 32 |
| Transaction Date | 2006-05-17 |
| Transaction Price | $6,200,000 |
| Buyer | FRENWOOD GROVE APARTMENTS LLC |
| Seller | NORTH POPLAR LLC |
4900 N MacDill Ave Tampa Multifamily Investment
Neighborhood fundamentals point to steady renter demand with occupancy holding in the low 90s and a renter-occupied housing base around two-thirds, according to WDSuite’s CRE market data. Investors should view this as a demand-supportive location within Tampa’s urban core, with pricing power balanced by local affordability considerations.
The property sits in Tampa’s Urban Core, where the neighborhood carries a B- rating and ranks near the metro median (352 of 710 neighborhoods). For investors, that positioning suggests stable, workaday demand rather than outsized volatility, based on CRE market data from WDSuite.
Local livability supports leasing: restaurants and daily needs score well relative to national peers (restaurants, groceries, and pharmacies track in the upper tiers nationally), while parks, cafes, and childcare are less dense. That mix typically favors workforce housing and short commute patterns over lifestyle-centric amenities.
Neighborhood rent levels sit above the national midpoint and have risen materially in recent years, reinforcing pricing potential but also calling for careful lease management given higher rent-to-income ratios. Homeownership is a high-cost proposition here compared with incomes, which tends to sustain reliance on multifamily housing and can aid retention in professionally managed assets.
Occupancy in the neighborhood (not the property) is about 91.7% and has improved over the last five years, while the share of renter-occupied housing units is roughly two-thirds—indicating a deep tenant base and demand resiliency for multifamily operators. Demographics aggregated within a 3-mile radius show a modest dip in recent population alongside a small uptick in households, with forecasts pointing to population and household growth over the next five years—supportive of a larger renter pool and sustained occupancy.
Safety indicators for the neighborhood are mixed but trending better. Compared with neighborhoods nationwide, overall safety sits near the middle of the pack (around the 46th percentile), according to WDSuite’s data. Year-over-year, estimated violent and property offense rates have both declined, signaling gradual improvement. These figures reflect neighborhood-level trends and should be incorporated into risk assessment alongside on-site security, lighting, and tenant screening practices.
Nearby corporate offices anchor a diverse employment base that supports renter demand and commute convenience for workforce tenants. The list below highlights managed care, financial services, and healthcare-related employers within typical commuting distance.
- Wellcare — managed care/health plans (4.4 miles)
- Wellcare Health Plans — managed care/health plans (4.5 miles) — HQ
- Raymond James — financial services offices (7.1 miles)
- Cardinal Health — medical distribution offices (11.0 miles)
- MetLife Insurance Company — insurance services (12.0 miles)
This 32-unit asset benefits from a renter-heavy neighborhood, steady occupancy near the low 90s at the neighborhood level, and a high-cost ownership landscape that tends to reinforce reliance on rentals. According to CRE market data from WDSuite, neighborhood occupancy has strengthened over the past five years, while daily-needs amenities and proximity to major employers support demand depth and retention.
Forward-looking demographics aggregated within a 3-mile radius point to increases in both population and households over the next five years, indicating a larger tenant base for stabilized operations. Operators should balance pricing strategies with observed affordability pressure and continue to differentiate via maintenance, customer service, and targeted unit upgrades to capture rent growth without elevating turnover risk.
- Renter-heavy neighborhood and stable, improving occupancy support demand and leasing durability
- High-cost ownership market sustains reliance on multifamily, aiding retention and pricing power
- Daily-needs amenities and proximity to major employers underpin workforce appeal
- Demographic outlook (3-mile) indicates renter pool expansion over the next five years
- Risk: elevated rent-to-income ratios require careful lease management to limit turnover