| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 49th | Fair |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2155 Montclair Rd, Clearwater, FL, 33763, US |
| Region / Metro | Clearwater |
| Year of Construction | 2002 |
| Units | 116 |
| Transaction Date | 2005-07-01 |
| Transaction Price | $16,200,000 |
| Buyer | Health Care Property Investors |
| Seller | Beckett Lake Lodge |
2155 Montclair Rd Clearwater 116-Unit Multifamily Investment
Positioned in an inner-suburb location with solid neighborhood amenities and a renter-occupied base above many U.S. areas, this 2002 asset benefits from demand drivers that support leasing durability, according to WDSuite’s CRE market data.
The property sits in Clearwater’s inner-suburban fabric with everyday conveniences nearby. Neighborhood amenity access skews favorable: grocery and park access test in the top decile nationally, while restaurants are above average; café and childcare density are more limited. For investors, this mix supports daily-life livability and contributes to steady renter interest without relying on destination retail.
Local housing stock in the neighborhood skews older (average vintage 1975), while this asset’s 2002 construction is materially newer. That positioning can enhance competitiveness versus legacy product and may temper near-term capital needs; however, two-decade-old buildings often benefit from targeted systems upgrades and common-area refreshes to sustain rent positioning.
Renter-occupied housing comprises roughly one-third of neighborhood units and ranks in the upper tier nationally for renter concentration. For multifamily owners, that indicates a meaningful tenant base and potential demand stability, especially when paired with area conveniences and commute access across the Tampa–St. Petersburg–Clearwater metro.
Within a 3-mile radius, population grew in recent years and is projected to expand further, with households also poised for a material increase. Rising incomes alongside advancing asking rents suggest room for continued renter pool expansion and support for occupancy management. Home values and the value-to-income ratio track above national norms, indicating a higher-cost ownership market that tends to sustain reliance on multifamily rentals; at the same time, neighborhood rent-to-income readings are low nationally, which can aid retention and reduce affordability pressure for existing tenants, based on CRE market data from WDSuite.
Safety indicators are mixed. The neighborhood ranks 524th out of 710 Tampa–St. Petersburg–Clearwater neighborhoods for crime, placing it below the metro median. Nationally, overall safety sits below the midpoint (around the lower third), with property offenses weaker than violent offense comparisons. Recent estimates also point to a year-over-year uptick in reported incidents.
For investors, the implication is straightforward: budget for active property management and routine security measures (lighting, access controls, and visibility) to support tenant comfort and retention. These steps are common for inner-suburban assets and can help mitigate leasing friction even where broader area statistics are in flux, per WDSuite’s CRE market data.
The employment base features major corporate offices within typical commuting distance, supporting workforce housing demand and resident retention. Nearby anchors include Tech Data, Raymond James Financial, Jabil, and WellCare Health Plans.
- Tech Data — technology distribution (5.7 miles) — HQ
- Raymond James Financial — financial services (8.8 miles) — HQ
- Jabil Circuit — electronics manufacturing (10.6 miles) — HQ
- Wellcare Health Plans — healthcare services (12.4 miles) — HQ
This 116-unit, 2002-vintage community offers a relative age advantage over an older neighborhood housing base, creating competitive positioning with potential for targeted value-add. Neighborhood fundamentals point to sustained renter demand: renter-occupied share is above many U.S. areas, amenity access is strong for groceries and parks, and ownership costs trend elevated versus incomes—factors that typically reinforce multifamily reliance and leasing durability. According to CRE market data from WDSuite, rent levels remain manageable relative to incomes locally, which can support retention while allowing disciplined rent management.
Forward-looking dynamics are constructive. Within a 3-mile radius, population and households are projected to grow, expanding the tenant base. Pairing these trends with proximity to large employment nodes across Clearwater and the broader Tampa Bay area, the asset is positioned to capture steady demand. Key risks include below-median safety readings and the operational focus required for a two-decade-old property, both manageable with proactive asset management and capital planning.
- 2002 construction versus older local stock supports competitive positioning and selective value-add
- Renter concentration and strong everyday amenities underpin depth of tenant demand
- Elevated ownership costs and manageable rent-to-income support leasing durability
- Nearby corporate anchors bolster workforce housing demand within commuting range
- Risks: below-median safety metrics and ongoing CapEx for a 2002 asset require active management