| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 22nd | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 121 N Jefferson Ave, Clearwater, FL, 33755, US |
| Region / Metro | Clearwater |
| Year of Construction | 1976 |
| Units | 20 |
| Transaction Date | 2013-06-26 |
| Transaction Price | $820,000 |
| Buyer | CLEARWATER PROPERTIES LLC |
| Seller | 1630 JEFFERSON AVENUE LLC |
121 N Jefferson Ave Clearwater Multifamily Investment
According to CRE market data from WDSuite, the surrounding neighborhood shows a high share of renter-occupied units that supports tenant demand even as overall occupancy trends sit below the metro median. Investors should underwrite for steady renter interest while planning for competitive positioning on leasing and renewals.
Positioned in Clearwater’s inner-suburban fabric of the Tampa–St. Petersburg–Clearwater metro, the neighborhood offers everyday convenience that appeals to renters. Grocery and pharmacy access ranks among the strongest locally (both within the top 40 of 710 metro neighborhoods), and restaurant density is competitive as well (ranked 34 of 710), indicating dining and services that help with resident retention. By contrast, limited parks and café density signal fewer lifestyle amenities on those fronts, factors to consider when programming common areas or marketing.
Renter concentration is notably high at the neighborhood level (renter-occupied share ranked 30 of 710), translating to a deep tenant base for multifamily. At the same time, neighborhood occupancy is below the metro median (ranked 548 of 710), so leasing strategy and unit turns may require tighter execution to sustain stability. These are neighborhood-level indicators, not property-specific occupancy.
Within a 3-mile radius, demographics point to a gradually expanding renter pool: households have increased in recent years and are projected to grow meaningfully over the next five years, with population growth supporting a larger tenant base. Median contract rents in the 3-mile area have risen over the last cycle and are forecast to continue increasing, which can support revenue growth for well-positioned assets while reinforcing the importance of value relative to local incomes. Based on commercial real estate analysis from WDSuite, the area’s income mix suggests some affordability pressure for a portion of renters, making thoughtful lease management and retention programs important.
Vintage context matters: the submarket’s average construction year skews older (1964 on a neighborhood basis). A 1976 asset can compete more effectively against older stock with selective updates—particularly in unit interiors, building systems, and amenities—to capture demand from residents prioritizing convenience and functionality over luxury finishes.
Safety indicators are mixed and should be considered in underwriting. The neighborhood’s crime rank sits in the lower half of the Tampa–St. Petersburg–Clearwater metro (525 out of 710), and its national positioning is below average (28th percentile), suggesting investors should plan for standard security measures and community-engagement practices typical for inner-suburban locations.
Year-over-year estimates indicate property and violent offense rates have recently trended higher at the neighborhood level. Framing this comparatively, the area is not among the metro’s top-performing cohorts on safety, so operators often emphasize lighting, access control, and resident relations to support leasing and retention. These are neighborhood-level metrics and do not reflect incident counts at the property.
Nearby anchor employers provide a broad, white-collar employment base that supports renter demand and commute convenience, including Tech Data, Raymond James Financial, Jabil Circuit, and Wellcare Health Plans.
- Tech Data — technology distribution (5.9 miles) — HQ
- Raymond James Financial — financial services (9.2 miles) — HQ
- Jabil Circuit — electronics manufacturing (11.0 miles) — HQ
- Wellcare Health Plans — managed care (15.2 miles) — HQ
121 N Jefferson Ave is a 20-unit 1976-vintage asset in an inner-suburban Clearwater neighborhood with strong day-to-day amenities and a high renter concentration. Neighborhood occupancy trends run below the metro median, but proximity to diversified employment and steady household growth within a 3-mile radius point to a resilient tenant base. According to CRE market data from WDSuite, rent levels in the surrounding area have risen and are expected to continue trending upward, favoring well-maintained, competitively positioned properties.
Relative to the neighborhood’s older housing stock (average year 1964), a 1976 building can compete effectively with targeted upgrades to interiors and common areas while planning for mid-life systems and exterior capex. With employment access and projected population and household growth in the trade area, the investment case centers on operational execution: attracting value-seeking renters, managing affordability pressures, and stabilizing occupancy through prudent leasing.
- Deep renter base in the neighborhood supports leasing velocity and renewal potential.
- 1976 vintage offers value-add potential versus older local stock, with selective renovations improving competitiveness.
- Household and population growth within 3 miles expands the tenant pool, supporting occupancy stability.
- Proximity to major employers underpins demand from commuters across technology, finance, and healthcare.
- Risks: neighborhood safety ranks below metro median and occupancy is softer; affordability pressures call for disciplined pricing and resident retention programs.