| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Poor |
| Demographics | 22nd | Poor |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6002 18th St, Zephyrhills, FL, 33542, US |
| Region / Metro | Zephyrhills |
| Year of Construction | 1976 |
| Units | 48 |
| Transaction Date | 2017-01-20 |
| Transaction Price | $800,000 |
| Buyer | PARKHILL TERRACE LLC |
| Seller | ZAPHYRHILLS LTD |
6002 18th St Zephyrhills Multifamily Investment Opportunity
Owner-leaning housing and steady regional growth point to a durable renter base, according to WDSuite s commercial real estate analysis, with value-add potential tied to a 1976 vintage and submarket-level demand drivers.
Situated in Zephyrhills within the Tampa St. Petersburg Clearwater metro, the property benefits from practical neighborhood amenities: grocery and pharmacy density ranks high nationally, while restaurants are plentiful, supporting day-to-day convenience for residents. By contrast, parks and cafes are limited locally, which may temper lifestyle appeal compared with urban core submarkets. These dynamics, based on CRE market data from WDSuite, suggest a service-oriented location with essentials close by but fewer leisure anchors.
The asset s 1976 construction is slightly newer than the neighborhood s average vintage (1967). For investors, this typically means systems and interiors may still require targeted capital planning to remain competitive, yet the property can compare favorably against older area stock. Neighborhood occupancy trends are below metro norms, indicating lease-up and retention will hinge on pricing discipline and operations, rather than market tightness alone.
Tenure patterns show a moderate renter concentration at the neighborhood level (renter-occupied share around one-third), pointing to a meaningful but not dominant multifamily renter pool. Within a 3-mile radius, population and household counts have increased and are projected to continue rising over the next five years, signaling renter pool expansion that can support occupancy stability, especially for well-managed, value-oriented units.
Home values in the neighborhood are comparatively low versus national benchmarks, and rent-to-income appears manageable in this area. For multifamily investors, a more accessible ownership market can introduce competitive pressure on pricing, but it can also support retention for residents who prefer turn-key rental living and value proximity to services. School ratings trail national averages, which may limit deep family-driven demand but keeps the focus on workforce renters and seniors who prioritize convenience and cost.
Safety indicators point to comparatively favorable conditions versus national norms, particularly for violent offenses, where the neighborhood sits in the top decile nationwide. Property offenses also benchmark well on a national basis; however, recent year-over-year trends show an uptick in property-related incidents. Investors should weigh the strong standing on violent crime alongside the more mixed short-term property offense trend and monitor local enforcement and community programs over time.
Nearby corporate employers provide a diversified employment base that can support renter demand and lease retention, including insurance, grocery headquarters, financial services, and healthcare-related offices noted below.
- MetLife Insurance Company — insurance (14.6 miles)
- Publix Super Markets — grocery corporate offices (19.4 miles) — HQ
- Raymond James — financial services (22.8 miles)
- Wellcare Health Plans — health plans (27.2 miles) — HQ
- Cardinal Health — healthcare distribution (27.4 miles)
6002 18th St offers 48 units in a service-oriented Zephyrhills location with strong access to daily-needs retail and healthcare services. The 1976 vintage suggests a clear value-add path through systems updates and interior modernization, while still positioning the asset competitively against older neighborhood stock. Within a 3-mile radius, population and household growth with further increases projected supports a larger tenant base and potential occupancy stability for well-managed properties. Neighborhood occupancy benchmarks below metro levels and an owner-leaning tenure mix imply that performance will rely on precise pricing, renovation execution, and targeted leasing to workforce segments.
According to CRE market data from WDSuite, the area s comparatively favorable violent-crime standing, abundant grocery and pharmacy access, and manageable rent-to-income dynamics support a practical, needs-focused living proposition. Counterbalancing considerations include softer school ratings, a recent uptick in property offenses, and competition from relatively attainable ownership, all of which warrant conservative underwriting and proactive asset management.
- 48-unit asset with everyday convenience drivers and diversified regional employment access
- 1976 vintage offers clear value-add and CapEx planning opportunities versus older local stock
- 3-mile population and household growth support renter pool expansion and occupancy stability
- Favorable violent-crime benchmarks and strong grocery/pharmacy density underpin livability
- Risks: below-metro occupancy, recent property offense uptick, softer school ratings, and owner-leaning tenure