| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 60th | Good |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2717 Seville Blvd, Clearwater, FL, 33764, US |
| Region / Metro | Clearwater |
| Year of Construction | 2009 |
| Units | 20 |
| Transaction Date | 1993-11-09 |
| Transaction Price | $1,080,000 |
| Buyer | BAYSIDE ARBORS XII LLC |
| Seller | BAYSIDE ARBORS LTD |
2717 Seville Blvd Clearwater 20-Unit Multifamily
2009 vintage in an inner-suburb location positions this asset competitively versus older neighborhood stock, with a deep renter-occupied base supporting lease-up and retention, according to WDSuite’s CRE market data.
Located in Clearwater’s inner suburbs, the property benefits from strong daily-needs access. Neighborhood amenity density is competitive, with grocery, restaurant, and cafe concentrations comparing favorably to many areas in the Tampa–St. Petersburg–Clearwater metro, while park, pharmacy, and childcare options are more limited nearby.
At the neighborhood level (not the property), renter-occupied housing is elevated, indicating a larger multifamily tenant pool that can support demand depth and leasing velocity. However, overall neighborhood occupancy trends are below the metro median, so underwriting should assume more measured absorption and thoughtful renewal management rather than outsized pricing power.
The average neighborhood construction year skews older (1970s), and this property’s 2009 delivery provides relative competitiveness on unit finishes and systems versus much of the surrounding stock, while still warranting routine updates over the hold period to sustain positioning.
Within a 3-mile radius, recent population growth and an increase in households point to a larger tenant base and continued demand for rental units. Forecasts through 2028 indicate further household expansion and smaller average household sizes, which typically support occupancy stability for studios and one-bedrooms. Neighborhood income performance and NOI-per-unit metrics track in the top quartile nationally, based on commercial real estate analysis from WDSuite, reinforcing the area’s ability to sustain market-rate operations.
Ownership costs in the immediate area are relatively accessible compared with higher-cost coastal submarkets, which can introduce some competition with entry-level ownership. Investors should balance this with the convenience-driven appeal of professionally managed rentals near major employment nodes, which can aid retention.
Safety indicators for the neighborhood (not the property) trend below both metro and national averages. Among 710 metro neighborhoods, this area ranks in the lower tier, and nationally it falls well below the higher safety percentiles. Recent year-over-year estimates indicate increases in both property and violent offenses at the neighborhood level.
For investors, this typically warrants prudent assumptions around security lighting, access controls, and tenant screening to support resident experience and retention. Monitoring trend direction and comparing with nearby inner-suburb peers can help calibrate operating practices over the hold.
Proximity to major corporate offices supports a steady workforce renter base and commute convenience, notably at Tech Data, Raymond James Financial, Jabil Circuit, and Wellcare Health Plans.
- Tech Data — technology distribution (2.7 miles) — HQ
- Raymond James Financial — financial services (5.8 miles) — HQ
- Jabil Circuit — electronics manufacturing (7.6 miles) — HQ
- Wellcare Health Plans — healthcare services (11.9 miles) — HQ
This 20-unit asset, built in 2009, offers a relative age advantage versus the neighborhood’s predominantly 1970s-era stock—supporting competitive positioning with moderate capital planning for modernization. Neighborhood data points to a sizable renter-occupied base and strong amenity access, while metro-level occupancy at the neighborhood scale is softer, suggesting disciplined leasing and renewals are important to sustain performance. Based on CRE market data from WDSuite, nearby NOI benchmarks rank strong nationally, and the 3-mile demographic radius shows recent and projected household growth that supports a larger tenant base and long-term demand for rental units.
Counterweights include below-average neighborhood safety trends, rent-to-income pressures typical of the area, and some competition from relatively accessible ownership options. The employment base anchored by nearby corporate headquarters can help underpin leasing stability and retention when paired with responsive management and asset-specific upgrades.
- 2009 vintage offers competitive positioning versus older neighborhood stock with manageable value-add and systems updates.
- Elevated renter-occupied share supports a deeper tenant base and leasing velocity at the neighborhood level.
- 3-mile household growth and smaller average household sizes bolster demand for smaller units and support occupancy stability.
- Nearby corporate HQs (technology, finance, healthcare) reinforce workforce housing demand and retention potential.
- Key risks: softer neighborhood occupancy, below-average safety signals, and potential competition from entry-level ownership—underwrite leasing and capex accordingly.