| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 64th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5000 S Himes Ave, Tampa, FL, 33611, US |
| Region / Metro | Tampa |
| Year of Construction | 1986 |
| Units | 24 |
| Transaction Date | 2024-05-07 |
| Transaction Price | $21,344,300 |
| Buyer | SOUTH POINTE PROPERTY OWNER LLC |
| Seller | SOF SOUTH POINTE OWNER LP |
5000 S Himes Ave Tampa Multifamily Investment
Positioned in an amenity-rich inner suburb, neighborhood multifamily occupancy trends point to durable renter demand, according to WDSuite’s CRE market data. Strength in location fundamentals and renter depth support stable operations versus many U.S. areas.
The property sits in an Inner Suburb corridor of Tampa with a strong overall neighborhood rating (A+) and access to daily needs. Restaurant and cafe density ranks competitive among Tampa-St. Petersburg-Clearwater neighborhoods, and grocery and pharmacy access is similarly strong, supporting resident convenience and lease retention.
Within a 3-mile radius, population and household counts have been expanding and are projected to continue growing, indicating a larger tenant base over time. The area skews toward higher-income households, which can support rent levels while widening the pool for renovated units. Median home values in the neighborhood are elevated relative to many U.S. neighborhoods, reinforcing reliance on multifamily housing and supporting pricing power when amenities and finishes are competitive.
Renter-occupied housing comprises a meaningful share of neighborhood units, providing depth for smaller multifamily assets while coexisting with a sizable ownership base that can anchor stability. Neighborhood multifamily occupancy has improved in recent years and sits above many U.S. neighborhoods, which supports lower downtime between turns and steadier cash flow potential.
Built in 1986, the asset is newer than the neighborhood’s average vintage. That positioning can enhance competitiveness versus older stock while still offering value-add potential through modernization of unit interiors and common areas to meet today’s renter expectations. School ratings in the immediate area trail national averages, which may modestly limit family-driven leasing, but strong amenity access and employment connectivity help offset this for a broad renter cohort.
Neighborhood safety indicators are mixed compared with national benchmarks. Overall, the area trends slightly safer than the national midpoint, and recent data show a notable decline in property crime over the last year, according to WDSuite. At the same time, violent incident measures sit closer to national averages, warranting standard risk management and resident safety practices typical for inner-suburban Tampa assets.
Within the Tampa-St. Petersburg-Clearwater metro, the neighborhood’s crime positioning is competitive among 710 neighborhoods, and recent year-over-year improvements in property offenses support operational stability. Investors should monitor trends rather than block-level conclusions, as conditions can vary within small areas and over time.
Proximity to major corporate employers supports a steady commuter renter base and can aid leasing stability for workforce and professional tenants. Key nodes within typical drive times include healthcare distribution, electronics manufacturing, managed care, financial services, and IT distribution.
- Cardinal Health — healthcare distribution (8.7 miles)
- Jabil Circuit — electronics manufacturing (9.1 miles) — HQ
- Wellcare Health Plans — managed care (10.1 miles) — HQ
- Raymond James Financial — financial services (10.1 miles) — HQ
- Tech Data — IT distribution (12.7 miles) — HQ
5000 S Himes Ave offers a 24-unit footprint in an amenity-rich Tampa neighborhood where renter demand is supported by elevated home values and solid access to daily services. Built in 1986, the property is newer than the neighborhood average, providing relative competitiveness versus older stock while preserving value-add upside through targeted renovations. Neighborhood multifamily occupancy has risen in recent years and remains above many U.S. neighborhoods, according to CRE market data from WDSuite, which supports steady leasing and reduced downtime.
Within a 3-mile radius, ongoing population and household growth, along with a substantial higher-income household mix, point to a resilient tenant base for well-maintained units. While school ratings trail national norms and rent-to-income measures signal some affordability pressure for certain cohorts, the combination of employment access, strong amenity density, and a balanced renter concentration underpins durable operations for smaller multifamily assets.
- Inner-suburban Tampa location with strong amenity access that supports retention
- 1986 vintage offers competitive positioning plus clear value-add modernization paths
- Neighborhood occupancy trends above many U.S. areas, aiding leasing stability
- Expanding 3-mile population and households deepen the renter pool over time
- Risks: below-average school ratings and some affordability pressure to manage