| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Best |
| Demographics | 87th | Best |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5411 Bayshore Blvd, Tampa, FL, 33611, US |
| Region / Metro | Tampa |
| Year of Construction | 1975 |
| Units | 48 |
| Transaction Date | 2015-11-02 |
| Transaction Price | $5,500,000 |
| Buyer | BAYSHORE LAND TRUST |
| Seller | BOUTIQUE APARTMENTS LLC |
5411 Bayshore Blvd Tampa Multifamily Investment Thesis
Neighborhood occupancy has improved over the past five years, and a high-income renter base nearby supports demand durability, according to WDSuite’s CRE market data.
Located along Bayshore Blvd in Tampa’s Inner Suburb, the property sits in a neighborhood rated A and competitive among the 710 neighborhoods in the Tampa-St. Petersburg-Clearwater metro. Local fundamentals lean toward stability: household incomes are strong and home values are elevated versus national benchmarks, indicating a high-cost ownership market that can reinforce reliance on multifamily housing and support lease retention.
Livability indicators are mixed but generally favorable for renters. Restaurant density ranks in the national top quartile, while parks and pharmacies also test in high national percentiles, offering everyday convenience. By contrast, the immediate neighborhood has limited cafes and grocery options, so residents may rely on short drives for those needs. Average school ratings trend in the national top quartile and are competitive within the metro (ranked against 710 neighborhoods), which can support long-term neighborhood desirability.
From a housing perspective, neighborhood occupancy has risen over the last several years, and the broader 3-mile area shows a sizable renter-occupied presence that helps sustain the tenant pool. Within a 3-mile radius, population and household counts have grown and are projected to expand further by 2028, with smaller household sizes—dynamics that typically broaden the renter base and support occupancy stability for well-positioned assets.
The asset’s 1975 construction is older than the neighborhood’s average vintage, pointing to potential capital planning needs alongside value-add or modernization upside. In a submarket where elevated ownership costs and above-median rents coexist, thoughtful renovations and efficient unit layouts can help maintain competitive positioning versus newer stock while managing affordability pressure for retention.
Safety indicators are comparatively favorable for the area. The neighborhood performs above the national median for overall safety (around the 61st percentile nationwide), and property offenses have declined substantially year over year, placing the area in the national top quartile for improvement (about the 84th percentile). Violent-offense indicators sit modestly above national median levels (near the 55th percentile). Taken together, trends point to a generally stable environment relative to national norms, with recent momentum improving property-related incidents.
Proximity to established corporate employers supports workforce housing demand and commute convenience for residents, with concentrations in healthcare, electronics manufacturing, financial services, and IT distribution.
- Cardinal Health — healthcare distribution (7.7 miles)
- Jabil Circuit — electronics manufacturing (9.9 miles) — HQ
- Wellcare Health Plans — managed care (10.9 miles) — HQ
- Raymond James Financial — financial services (11.1 miles) — HQ
- Tech Data — IT distribution (13.7 miles) — HQ
This 48-unit asset at 5411 Bayshore Blvd benefits from a high-income Tampa neighborhood where home values rank well above national norms, reinforcing rental demand and supporting pricing power over a cycle. Neighborhood occupancy has trended up, and the 3-mile area shows population and household growth with a notable renter-occupied presence—factors that broaden the tenant base and support leasing stability. Based on CRE market data from WDSuite, local amenities skew toward dining, parks, and pharmacies, while limited immediate café/grocery options suggest residents rely on short drives for select errands—more a convenience consideration than a demand constraint.
Built in 1975, the property is older than the neighborhood average vintage, which underscores the importance of capital planning. That age profile can also present value-add opportunity: modernizing interiors, systems, and common areas to align with today’s renter expectations and to compete effectively against newer supply. Smaller average unit sizes can help maintain attainable monthly rents while optimizing rent per square foot, positioning the asset for steady occupancy in a high-cost ownership context.
- High-income, high-cost ownership area supports sustained renter demand and lease retention
- Neighborhood occupancy trend and 3-mile growth expand the tenant base and support stability
- 1975 vintage offers value-add potential through targeted renovations and system upgrades
- Amenity mix favors dining, parks, and pharmacies, enhancing day-to-day livability
- Risk: older systems and limited immediate café/grocery options require capex and leasing strategy focus