| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Good |
| Demographics | 39th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5505 N Habana Ave, Tampa, FL, 33614, US |
| Region / Metro | Tampa |
| Year of Construction | 1983 |
| Units | 46 |
| Transaction Date | 2010-12-15 |
| Transaction Price | $1,080,000 |
| Buyer | A L PROPERTIES TAMPA INC |
| Seller | HABANA CLUB APARTMENTS LLC |
5505 N Habana Ave Tampa Multifamily Investment
Neighborhood fundamentals point to steady renter demand and improving occupancy trends in the surrounding area, according to WDSuite’s CRE market data. Amenity access and a high renter-occupied share at the neighborhood level support tenant depth for a stabilized strategy.
Located in Tampa’s Inner Suburb fabric (B+ neighborhood rating), the area around 5505 N Habana Ave is competitive among Tampa-St. Petersburg-Clearwater neighborhoods, supported by strong daily conveniences. Cafes, grocers, and restaurants score well versus national peers, indicating walkable essentials that can bolster leasing and retention.
Neighborhood occupancy is solid and has trended upward over the past five years; this measure reflects the surrounding neighborhood, not the property. With a renter-occupied share above the national median, the tenant base is deep, which can support lease-up velocity and ongoing occupancy stability for multifamily assets.
The 1983 vintage is newer than the local average housing stock, offering relative competitiveness versus older properties nearby while still presenting scope for selective system updates or light renovations to enhance positioning. Home values in the area reflect a higher-cost ownership market relative to incomes, which tends to reinforce reliance on rental housing and can support pricing power when paired with effective lease management.
Within a 3-mile radius, current data shows relatively steady household counts and a projected increase in both population and households through the forecast period, pointing to a larger tenant base ahead. For investors, this suggests sustained demand for smaller units and studios as household sizes edge down modestly, supporting occupancy and renewal prospects.
Amenities are a clear strength, though immediate park inventory is limited. School rating data is not available in this dataset; investors may wish to supplement this with local diligence if family-oriented demand is a focus.
Safety indicators for the surrounding neighborhood track close to the national midpoint, with conditions around the metro median among 710 Tampa-St. Petersburg-Clearwater neighborhoods. Recent trends show a year-over-year decline in violent offense rates, while property offenses are nearer the national middle of the pack. This mix suggests a typical inner-suburb profile where standard security measures and resident engagement can support retention.
Proximity to regional corporate offices underpins a broad commuter tenant base and supports leasing stability. Key employers within a short drive include Wellcare and Wellcare Health Plans, Raymond James, Cardinal Health, and MetLife.
- Wellcare — managed care (4.4 miles)
- Wellcare Health Plans — health plans (4.5 miles) — HQ
- Raymond James — financial services (6.7 miles)
- Cardinal Health — healthcare distribution (11.1 miles)
- MetLife Insurance Company — insurance (11.5 miles)
This 46-unit, 1983-vintage multifamily asset benefits from strong neighborhood renter fundamentals and amenity depth. The surrounding area’s occupancy has improved in recent years and the renter-occupied share is high for the neighborhood, supporting a stable tenant pipeline. According to CRE market data from WDSuite, ownership costs relative to income are elevated locally, which typically sustains rental demand and can support pricing discipline when paired with prudent lease management.
The vintage is newer than the area’s average housing stock, offering relative competitiveness versus older properties while leaving room for targeted value-add through interior refreshes and aging system upgrades. Within a 3-mile radius, projections indicate population growth and a notable increase in households over the next five years, expanding the renter pool and supporting occupancy durability.
- Neighborhood occupancy and renter concentration support a durable tenant base and steady leasing.
- 1983 construction is newer than local averages, with scope for targeted renovations and system upgrades.
- Elevated ownership costs versus incomes reinforce reliance on rental housing, aiding retention and pricing power.
- 3-mile projections indicate population and household growth, expanding the future renter pool.
- Risks: affordability pressure and limited park access warrant attentive lease management and amenity strategy.