| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 57th | Good |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6820 W Hillsborough Ave, Tampa, FL, 33634, US |
| Region / Metro | Tampa |
| Year of Construction | 1998 |
| Units | 24 |
| Transaction Date | 2006-12-21 |
| Transaction Price | $30,250,000 |
| Buyer | ROCKY CREEK APARTMENTS OWNERS LLC |
| Seller | SCT ROCKY CREEK LLC |
6820 W Hillsborough Ave, Tampa Investment Property
Neighborhood occupancy remains steady and renter demand is supported by strong nearby amenities, according to WDSuite’s CRE market data. Metrics cited refer to the surrounding neighborhood, not the property itself.
This Inner Suburb location in Tampa balances access and livability for renters. Grocery and cafe density ranks competitive among 710 Tampa metro neighborhoods, with groceries and cafes both strong relative to national benchmarks, while parks and childcare options are limited. For investors, this mix points to daily convenience that can aid leasing and retention, with fewer recreational amenities to market around.
Neighborhood occupancy is competitive among Tampa neighborhoods and above the metro median based on rank, signaling stable leasing fundamentals. The renter-occupied share of housing units in the neighborhood is high (renter concentration ranks in the top tier locally), which indicates a deep tenant base and supports demand for apartment product. Median contract rents in the area sit above many U.S. neighborhoods, but rent-to-income levels suggest manageable affordability pressure, which can help reduce turnover risk.
Within a 3-mile radius, demographics show recent population growth with a further increase projected, alongside a rising household count and slightly smaller average household size over time. This combination expands the tenant base and can support occupancy stability for professionally managed rentals.
Home values are lower than many U.S. neighborhoods, which can introduce some competition from ownership options. Even so, the neighborhood’s elevated renter concentration and commuting convenience can sustain multifamily demand and lease-up velocity for well-positioned assets.
Safety indicators are mixed when benchmarked against Tampa metro neighborhoods and national peers. Overall crime ranks around the metro middle, aligning with a national position near the midpoint. Property offenses show noteworthy improvement year over year, placing the area in a stronger national position for declining property crime. By contrast, violent offense indicators track below national averages and have recently trended less favorably, underscoring the importance of active security measures and resident engagement.
These figures reflect neighborhood-level patterns rather than block-level conditions and can vary street to street. Investors typically mitigate risk through lighting, access control, and partnerships with local community resources.
The immediate area draws from a diversified white-collar employment base that supports renter demand through short commutes and professional services roles. Notable nearby employers include healthcare administration, financial services, and technology distributors.
- Wellcare Health Plans — healthcare administration (2.6 miles) — HQ
- Raymond James — financial services offices (7.4 miles)
- Raymond James Financial — financial services (10.2 miles) — HQ
- Jabil Circuit — electronics manufacturing services (10.5 miles) — HQ
- Tech Data — technology distribution (10.8 miles) — HQ
Built in 1998, the property is newer than much of the surrounding housing stock, positioning it competitively versus older assets while still offering potential value-add through targeted modernization of interiors and common areas. Neighborhood occupancy is strong and ranks competitive among Tampa neighborhoods, and the high share of renter-occupied housing units locally points to a deep tenant base that can support leasing stability.
Within a 3-mile radius, recent population growth, a projected increase in households, and gradually smaller household sizes point to a larger renter pool over time. According to CRE market data from WDSuite, local amenity access is favorable for groceries and cafes, which can support retention, while lower home values relative to many U.S. neighborhoods suggest some competition from ownership and call for disciplined pricing and renewal strategies.
- 1998 vintage offers competitive positioning with potential renovation upside
- Competitive neighborhood occupancy and high renter concentration support demand
- 3-mile radius shows population growth and rising household counts, expanding the tenant base
- Strong grocery and cafe access aids retention and leasing velocity
- Risks: softer violent-crime readings, limited parks/childcare, and some competition from ownership options