| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 58th | Good |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 301 Seacrest Dr, Largo, FL, 33771, US |
| Region / Metro | Largo |
| Year of Construction | 1973 |
| Units | 110 |
| Transaction Date | 2019-06-27 |
| Transaction Price | $13,400,000 |
| Buyer | Cornerstone Pointe, LP |
| Seller | Millbrook Ltd |
301 Seacrest Dr, Largo FL Multifamily Investment
Neighborhood occupancy sits near 93% and has trended upward, supporting leasing stability according to WDSuite’s CRE market data. This location offers steady renter demand in an inner-suburban setting with room for value-add execution.
The property is situated in an Inner Suburb of the Tampa–St. Petersburg–Clearwater metro with a neighborhood rating of B and performance above the metro median (ranked 320 among 710 metro neighborhoods), based on CRE market data from WDSuite. The area’s occupancy is 93.1% at the neighborhood level and has improved over the last five years, indicating durable baseline demand for apartments rather than property-specific performance.
Day-to-day amenities skew toward food and beverage options: cafes and restaurants score strong nationally (both in the 90th+ percentiles), while groceries are also well represented (around the 79th percentile). However, park, childcare, and pharmacy presence is limited in the immediate neighborhood dataset, which investors should weigh against resident preferences for on-site and nearby services.
At the neighborhood level, median contract rent trends are positioned around the upper-third nationally with five-year growth, while occupancy has held in the low-90s. Renter concentration is elevated (about 57% of housing units are renter-occupied), placing the neighborhood in the top decile among the metro’s 710 neighborhoods—an indicator of a deep tenant base and consistent leasing velocity. Rent-to-income levels benchmark as relatively manageable locally, which supports retention and reduces turnover risk, though it may temper near-term pricing power.
Demographic statistics aggregated within a 3-mile radius show essentially flat population alongside an increase in households and a gradual decline in average household size—signals that typically expand the renter pool and support occupancy stability. Income levels have risen over recent years, and forward-looking projections indicate more households by 2028, which can sustain multifamily absorption even if population growth is modest.
Neighborhood safety indicators compare favorably at the national level. Violent-offense rates benchmark in the low-incident range (roughly the 71st percentile for safety nationwide), placing the area within the top quartile nationally, while property-offense measures are modestly better than the national median (about the mid-50s percentile), according to WDSuite’s data. Year-over-year, violent incidents have declined materially, suggesting an improving trend rather than a block-level guarantee.
Within the Tampa–St. Petersburg–Clearwater context, these readings point to conditions that are competitive among peer neighborhoods and supportive of resident retention. As always, investors should pair these metro- and national-level comparisons with standard property-level diligence and management practices.
The employment base nearby blends technology distribution, financial services, electronics manufacturing, and healthcare, supporting a diversified renter pipeline and commute convenience to major employers listed below.
- Tech Data — technology distribution (2.7 miles) — HQ
- Raymond James Financial — financial services (5.6 miles) — HQ
- Jabil Circuit — electronics manufacturing (7.3 miles) — HQ
- Wellcare Health Plans — health insurance (14.6 miles) — HQ
- Cardinal Health — medical distribution (24.1 miles)
Built in 1973, this 110-unit asset is slightly older than the neighborhood’s average vintage, creating clear value-add and capital planning angles to sharpen competitive positioning against 1980s-era stock. At the neighborhood level, occupancy around 93% and an elevated share of renter-occupied housing units point to a durable tenant base and steady leasing. Nearby amenities favor restaurants and cafes, and a diversified employment base within short driving distance supports weekday demand and lease retention. Home values in the surrounding area are lower relative to the national median, which can introduce some competition from ownership; however, rent-to-income levels indicate room for sustainable rents and stable collections.
Demographic indicators within a 3-mile radius show households increasing and average household size edging down, which typically expands the renter pool and supports occupancy stability. According to commercial real estate analysis from WDSuite, neighborhood rent benchmarks sit in the upper-third nationally while remaining generally manageable for local incomes—an attractive setup for sustained performance with targeted renovations and operating execution.
- Occupancy stability at the neighborhood level and an above-median metro ranking support consistent leasing.
- Strong renter concentration signals depth of demand and a larger tenant base for renewals and lease-ups.
- 1973 vintage offers value-add upside through interior and system upgrades to compete with newer stock.
- Diversified nearby employers (tech distribution, finance, electronics, healthcare) underpin weekday housing demand.
- Risks: older systems may require near-term CapEx; lower local ownership costs can compete with rental pricing power.