| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 39th | Fair |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8421 Del Lago Cir, Tampa, FL, 33614, US |
| Region / Metro | Tampa |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | 2006-01-06 |
| Transaction Price | $11,700,000 |
| Buyer | CLP WATER AVE LLC |
| Seller | SAN MARTIN APARTMENTS LLC |
8421 Del Lago Cir Tampa Multifamily Investment
Positioned in Tampa s inner suburbs, the asset benefits from a deep renter base and neighborhood-level occupancy in the upper-80s, according to WDSuite s CRE market data. This concise commercial real estate analysis points to steady leasing supported by nearby employers and everyday amenities.
The property sits in an Inner Suburb setting with everyday conveniences that support renter retention. Neighborhood amenities rank above the metro median among 710 Tampa St. Petersburg Clearwater neighborhoods, with especially strong density of restaurants and cafes that is competitive locally and top quartile nationally. Grocery access is similarly competitive, helping sustain day-to-day livability for residents.
Neighborhood occupancy is around the upper-80s, and the renter concentration is roughly seven in ten housing units renter-occupied. For multifamily owners, that mix indicates a large tenant base and solid depth of demand. Elevated home values relative to local incomes (high national percentile value-to-income levels) suggest a high-cost ownership market that can reinforce reliance on rental housing and support pricing power when managed carefully.
Vintage matters: built in 1972, the asset is older than the neighborhood s average vintage (1987). That age profile often points to value-add potential through unit and systems modernization, with corresponding capital planning needs. School ratings in the broader area trend weaker relative to metro and national norms; investors should underwrite demand drivers more tied to employment access and convenience rather than family-oriented school pull.
Demographic statistics within a 3-mile radius show modest population stability alongside growth in households, with projections indicating further household gains and slightly smaller average household sizes over the next five years. That combination typically expands the renter pool and supports occupancy stability, as more households form even if population trends are flat. Neighborhood rents benchmark in the mid-range for the metro, and according to WDSuite s multifamily property research, local rent-to-income dynamics warrant attentive lease management to balance retention with revenue growth.
Safety signals are mixed and should be evaluated comparatively rather than at a block level. The neighborhood s crime rank sits just above the metro median among 710 Tampa St. Petersburg Clearwater neighborhoods, indicating outcomes that are not among the metro s strongest but remain competitive with many inner-suburb peers. Nationally, the area trends below the higher percentiles for safety, so prudent security and resident-experience practices are advisable in underwriting.
Trend-wise, estimated property offenses have declined meaningfully year over year (a stronger improvement percentile nationally), while violent-offense measures track less favorably versus national benchmarks. For investors, that mix suggests monitoring public-safety trends and maintaining standard risk mitigations, while recognizing recent improvement on the property-crime side.
Nearby corporate offices provide a diverse white-collar employment base that supports renter demand and commute convenience, led by Wellcare, Wellcare Health Plans, Raymond James, MetLife Insurance Company, and Cardinal Health.
- Wellcare health plans/corporate offices (3.2 miles)
- Wellcare Health Plans health plans/corporate offices (3.3 miles) HQ
- Raymond James financial services offices (4.6 miles)
- MetLife Insurance Company insurance services (10.3 miles)
- Cardinal Health healthcare distribution offices (12.9 miles)
This Tampa asset offers durable renter demand supported by an inner-suburban location with strong everyday amenities and commute access to major employers. Neighborhood occupancy sits in the upper-80s with a high share of renter-occupied units, indicating depth of the tenant base and potential for steady leasing. Built in 1972, the property s older vintage relative to the area s average suggests clear value-add and modernization pathways that can enhance competitiveness against newer stock.
According to CRE market data from WDSuite, ownership costs in the area trend elevated relative to incomes, which typically sustains rental reliance and supports pricing power when paired with disciplined lease management. Within a 3-mile radius, households are expanding and are projected to continue growing even as average household size edges lower a pattern that generally enlarges the renter pool and supports occupancy stability over the medium term.
- Inner-suburb location with competitive restaurant, cafe, and grocery access supporting resident retention
- Large renter base and neighborhood occupancy in the upper-80s underpin leasing stability
- 1972 vintage provides value-add and systems-modernization upside relative to newer area stock
- Elevated ownership costs reinforce rental demand; household growth within 3 miles expands the tenant pool
- Risks: affordability pressure (rent-to-income), mixed safety signals, and weaker school ratings warrant prudent underwriting