| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 82nd | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 901 Osceola Rd, Belleair, FL, 33756, US |
| Region / Metro | Belleair |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | 2003-12-17 |
| Transaction Price | $1,750,000 |
| Buyer | LECLERC ROBERT W |
| Seller | GULF WINDS LLC |
901 Osceola Rd Belleair 20-Unit Multifamily Investment
Elevated home values in the neighborhood support sustained renter reliance on multifamily housing, according to WDSuite’s CRE market data. Expect demand driven more by location fundamentals than on-block retail, with pricing power tied to quality and management execution.
Belleair sits within the Tampa–St. Petersburg–Clearwater metro and rates C+ overall, competitive among 710 metro neighborhoods at a midpack position. The immediate area is suburban with limited on-block retail or cafes, so residents typically access amenities along nearby corridors rather than within walking distance. Elevated neighborhood home values compare in the top decile nationally, a high-cost ownership backdrop that can reinforce tenant retention for well-run multifamily assets.
Rents and tenure dynamics point to an investable renter base. Neighborhood median contract rents benchmark high compared with many U.S. areas, while rent-to-income metrics indicate manageable affordability pressure relative to incomes, supporting lease management and renewal strategies. Within a 3-mile radius, approximately 37% of housing units are renter-occupied, suggesting sufficient depth for leasing and re-leasing activity even as ownership remains prevalent.
Demographics aggregated within a 3-mile radius show recent softness in population, but projections indicate population growth and a notable increase in households over the next five years, implying a larger tenant base and support for occupancy stability. Rising median and mean household incomes in the same radius further underpin rent collections and potential for measured rent growth, provided property quality aligns with renter expectations.
Vintage is a consideration: the asset was built in 1972 versus a neighborhood average around 1980. For investors, that typically implies targeted capital planning for systems and interiors, with potential value-add or renovation upside to compete effectively against newer stock.
Safety indicators are comparatively favorable versus national norms. The neighborhood’s overall safety profile trends around the upper half nationwide, and recent data show double-digit declines in both violent and property offense rates year over year, signaling improvement according to CRE market data from WDSuite. Conditions can vary by block and over time, so investors should validate on-the-ground patterns during diligence.
Proximity to established corporate employers supports commuter convenience and multifamily demand, particularly among white-collar renters. Key nearby employment anchors include Tech Data, Raymond James Financial, Jabil Circuit, Wellcare Health Plans, and Cardinal Health.
- Tech Data — corporate offices (6.0 miles) — HQ
- Raymond James Financial — financial services (9.0 miles) — HQ
- Jabil Circuit — manufacturing (10.6 miles) — HQ
- Wellcare Health Plans — healthcare services (17.0 miles) — HQ
- Cardinal Health — healthcare distribution (27.4 miles)
901 Osceola Rd offers a 20-unit, 1972-vintage multifamily asset in a high-cost ownership pocket of Pinellas County where elevated home values help sustain rental demand. According to CRE market data from WDSuite, neighborhood-level rents benchmark on the higher side relative to many U.S. areas, while rent-to-income indicators suggest manageable affordability pressure, supporting retention when paired with responsive management.
Demographics within a 3-mile radius point to projections of population growth and a meaningful increase in households, indicating a larger renter pool that can support occupancy and measured rent growth over time. Given the asset’s older vintage versus the neighborhood average, a focused value-add plan on interiors and building systems can enhance competitiveness and capture demand from nearby white-collar employment centers.
- High-cost ownership market reinforces rental demand and tenant retention potential
- 3-mile projections show renter pool expansion via population and household growth
- Value-add potential from 1972 vintage through targeted renovations and systems upgrades
- Proximity to major employers supports leasing stability among commuting renters
- Risks: limited walkable amenities and below-metro occupancy trends require active leasing and asset management