| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 59th | Good |
| Amenities | 25th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6608 S West Shore Blvd, Tampa, FL, 33616, US |
| Region / Metro | Tampa |
| Year of Construction | 2013 |
| Units | 54 |
| Transaction Date | 2021-07-16 |
| Transaction Price | $67,750,000 |
| Buyer | AMELIA INVESTMENT PARTNERS I LLC |
| Seller | LURIN REAL ESTATE HOLDINGS XXXIX LLC |
6608 S West Shore Blvd Tampa Multifamily Opportunity
Renter demand is supported by a sizable renter-occupied housing base and elevated ownership costs in the surrounding neighborhood, according to WDSuite’s CRE market data. Occupancy trends are mixed, so asset selection and operations matter for stability.
This Inner Suburb location in Tampa offers livability driven by park access and proximity to major employment nodes, while day-to-day retail is thinner within the immediate neighborhood. Neighborhood amenities score below national norms for grocery, restaurant, and café density, but park access trends in the upper national percentiles, offering recreational appeal that can aid resident retention.
Multifamily fundamentals are nuanced. The neighborhood’s renter-occupied share is above most areas nationally, signaling a deeper tenant base for leasing. At the same time, neighborhood occupancy sits below the metro median, suggesting that disciplined leasing and active management will be important to sustain performance through cycles.
For investors focused on relative competitiveness, the subject’s 2013 construction is newer than the neighborhood’s average vintage (1981). Newer stock typically competes well against older properties on finishes and systems, though capital planning should still account for mid‑life updates over the hold.
Home values in the neighborhood are elevated versus national averages, which tends to reinforce reliance on rental housing and support pricing power. Rent-to-income levels track closer to manageable territory, which can help with lease retention and reduce turnover sensitivity. Demographic statistics within a 3‑mile radius show recent population and household growth, with projections indicating further increases in households—expanding the local renter pool and supporting occupancy stability over time, based on CRE market data from WDSuite.
Safety metrics are mixed when viewed against both metro and national baselines. The neighborhood sits slightly above the metro median among 710 Tampa-St. Petersburg-Clearwater neighborhoods, yet trends below the national average on overall safety percentile. Recent data indicate property offenses have eased year over year, while violent offense rates increased, underscoring the value of security-conscious operations and resident engagement.
The area draws from a diversified white-collar employment base that supports renter demand and commute convenience. Key nearby employers include Jabil Circuit, Raymond James Financial, Cardinal Health, Wellcare Health Plans, and Tech Data.
- Jabil Circuit — corporate offices (7.4 miles) — HQ
- Raymond James Financial — corporate offices (8.68 miles) — HQ
- Cardinal Health — corporate offices (10.2 miles)
- Wellcare Health Plans — corporate offices (11.24 miles) — HQ
- Tech Data — corporate offices (11.55 miles) — HQ
Built in 2013 with 54 units, the property is positioned to compete effectively against the area’s older housing stock while benefiting from a growing renter pool within a 3‑mile radius. Elevated neighborhood home values point to a high‑cost ownership market that supports sustained multifamily demand, and rent-to-income levels indicate manageable affordability pressure that can aid retention. According to CRE market data from WDSuite, neighborhood occupancy trends are softer relative to the metro median, which places a premium on active leasing and operations.
Access to a diversified set of nearby corporate employers underpins weekday traffic and broadens the tenant base. While local retail density is limited and school quality indicators trend low, park access and employment proximity help offset these factors for many renter profiles, particularly professionals prioritizing commute efficiency.
- 2013 vintage offers competitive positioning versus older neighborhood stock, with clear value in modern systems and finishes.
- Growing households within 3 miles expand the renter pool, supporting leasing velocity and occupancy stability over time.
- Elevated ownership costs locally reinforce reliance on rentals, aiding pricing power and lease retention.
- Strong nearby employer base (technology, finance, healthcare) sustains demand from commuters.
- Risks: neighborhood occupancy below metro median, limited retail density, and uneven safety and school metrics require proactive asset management.