| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 39th | Fair |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8730 N Himes Ave, Tampa, FL, 33614, US |
| Region / Metro | Tampa |
| Year of Construction | 1985 |
| Units | 20 |
| Transaction Date | 2008-03-25 |
| Transaction Price | $15,920,600 |
| Buyer | ADMG ALTAMONTE PARTNERS LLC |
| Seller | ALTAMONTE 26 LLC |
8730 N Himes Ave Tampa 20-Unit Value-Add
Positioned in an inner-suburb corridor with steady renter demand, this 20-unit asset offers operational and renovation upside; according to WDSuite’s CRE market data, the surrounding neighborhood shows strong amenity access and a high share of renter-occupied units that can support leasing stability.
Located in Tampa’s inner suburbs (neighborhood rating: B-), the immediate area shows solid renter fundamentals. Neighborhood occupancy is in a mid-range band, while the share of housing units that are renter-occupied is high (top quartile nationally), signaling depth in the tenant base and support for multifamily absorption and retention.
Amenity access is a relative strength. Restaurants and groceries per square mile are in the top quartile nationally, and cafes are similarly competitive, according to WDSuite’s CRE market data for the neighborhood. This concentration typically aids leasing velocity and day-to-day convenience for residents. Park and pharmacy counts inside the neighborhood footprint are limited in the dataset, so investors may want to underwrite resident reliance on nearby submarkets for those services.
From a cost context, neighborhood rents benchmark in the upper-third nationally, while home values and the value-to-income ratio trend high versus national norms. In practice, elevated ownership costs often sustain reliance on multifamily housing, though the neighborhood’s rent-to-income ratio indicates some affordability pressure—an area for proactive lease management and renewal strategy.
Property vintage in the area averages around the late 1980s. With a 1985 construction year, this asset is slightly older than the neighborhood norm, which points to potential capital planning needs and value-add pathways (unit interiors, common areas, and systems) to enhance competitive positioning against newer stock.
Demographic statistics within a 3-mile radius show households increasing recently with a forecast for further household growth, even as population trends are roughly flat to modestly lower. This pattern suggests smaller household sizes and a broader renter pool over time, supporting multifamily demand and occupancy stability when paired with the neighborhood’s amenity density.
Safety indicators are mixed relative to national benchmarks. Overall crime levels track below the national median (national percentile in the low 40s), placing the neighborhood somewhat weaker than average on safety. Violent offense metrics sit lower in the national distribution, which calls for prudent underwriting of security and lighting improvements at the asset level.
On the positive side, property offenses have declined notably year over year and rank among stronger national improvement trends, according to WDSuite’s CRE market data. Investors should balance the recent property crime improvement with the softer violent-crime positioning, monitoring trend direction rather than relying on any single-year reading.
Nearby corporate offices create a diverse white-collar employment base that supports renter demand and retention. Notable employers include Wellcare, Wellcare Health Plans, Raymond James, MetLife Insurance Company, and Cardinal Health.
- Wellcare — health insurance (2.8 miles)
- Wellcare Health Plans — managed care (3.0 miles) — HQ
- Raymond James — financial services (4.1 miles)
- MetLife Insurance Company — insurance (10.2 miles)
- Cardinal Health — medical distribution (13.4 miles)
8730 N Himes Ave offers a 1985-vintage, 20-unit footprint in a neighborhood with a high concentration of renter-occupied housing and strong amenity density—factors that typically support leasing and retention. Based on commercial real estate analysis from WDSuite, neighborhood rents trend in the upper-third nationally while ownership costs skew high, reinforcing reliance on rental housing. The vintage suggests actionable value-add opportunities to modernize interiors and common areas to compete effectively with newer stock.
Within a 3-mile radius, households have been rising and are projected to expand further even as population trends are roughly flat to slightly lower, implying smaller household sizes and a broader renter pool over time. Investors should underwrite to mixed safety signals and affordability pressure (rent-to-income), using targeted upgrades and resident engagement to sustain occupancy and manage renewals.
- High renter-occupied share in the neighborhood supports a deep tenant base and steady demand
- Strong restaurant, grocery, and cafe density aids leasing velocity and resident convenience
- 1985 vintage offers clear value-add potential to elevate finishes and operating performance
- Elevated ownership costs versus income bolster reliance on multifamily housing
- Risks: affordability pressure (rent-to-income) and mixed safety positioning warrant conservative underwriting