| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 59th | Good |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 150 Eastlake Club Dr, Oldsmar, FL, 34677, US |
| Region / Metro | Oldsmar |
| Year of Construction | 1997 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | $16,500,000 |
| Buyer | PINELLAS COUNTY HSNG AUTHORITY |
| Seller | EAST LAKE CLUB C |
150 Eastlake Club Dr, Oldsmar Multifamily Investment
Renter demand is supported by convenience retail and steady household formation in the inner-suburban corridor, according to WDSuite’s CRE market data. Expect owner-leaning neighborhood dynamics to favor stable tenancy over rapid turnover.
Located in Oldsmar within the Tampa–St. Petersburg–Clearwater metro, the neighborhood carries a B+ rating and ranks 232 out of 710 metro neighborhoods — competitive among Tampa–St. Petersburg–Clearwater neighborhoods. Connectivity to daily needs is a clear strength: grocery, pharmacy, and dining options score in the upper national percentiles, while formal parks and childcare centers are less prevalent inside the immediate neighborhood footprint.
The property s 1997 vintage is newer than the neighborhood s average construction year (1981), suggesting relative competitiveness versus older stock and potentially lighter near-term capital needs, while still allowing targeted renovations for modernization as part of a value-add plan.
Renter-occupied share at the neighborhood level is in the mid-20% range, indicating an owner-leaning area that can support durable multifamily tenancy but may require sharper positioning against ownership alternatives. Neighborhood rents benchmark as competitive in the metro (ranked above the metro median), and rent-to-income ratios trend on the lower side nationally, which can support retention and occupancy management.
Within a 3-mile radius, households have inched higher despite a slight population contraction, pointing to smaller household sizes and a stable or expanding tenant base. Income levels have risen materially and are projected to continue climbing, while the forecast shows additional household growth alongside moderate rent gains through 2028 — dynamics that support leasing stability rather than outsized volatility, based on CRE market data from WDSuite.
Safety comparisons indicate the neighborhood sits below the national median, with recent year volatility in reported incident rates. Relative to the metro, its crime rank places it below the metro median among 710 neighborhoods, signaling that safety performance trails stronger submarkets but should be assessed in the context of broader inner-suburban patterns and ongoing local enforcement initiatives.
For investors, this underscores the importance of on-site security best practices, lighting, and access controls to support resident satisfaction and retention, while monitoring trajectory rather than any single-year swing.
The employment base features nearby corporate offices across technology distribution, managed healthcare, financial services, and advanced electronics manufacturing — a mix that supports commuter convenience and a broad renter pool.
- Tech Data — technology distribution (9.2 miles) — HQ
- Wellcare Health Plans — managed healthcare (9.4 miles) — HQ
- Raymond James Financial — financial services (11.5 miles) — HQ
- Jabil Circuit — electronics manufacturing (13.1 miles) — HQ
This 48-unit asset, built in 1997, is relatively newer than nearby housing stock, offering competitive positioning against older properties with potential to pursue selective upgrades for yield. Neighborhood rents are competitive in the metro, and lower rent-to-income levels suggest manageable affordability pressure that can underpin retention and occupancy stability. Within a 3-mile radius, household counts are up and projected to expand further even as population growth stays modest, translating to a broader tenant base over the medium term.
Amenity access for daily needs is strong (groceries, pharmacies, and restaurants), and commute options to diverse employers add depth to the renter pool. At the same time, the area’s owner-leaning tenure mix means multifamily assets should be positioned carefully against comparatively accessible ownership options. According to CRE market data from WDSuite, forward-looking rent trends in the area are constructive, aligning with steady leasing fundamentals rather than outsized volatility.
- 1997 vintage provides relative competitiveness versus older neighborhood stock with targeted value-add potential
- Competitive neighborhood rent positioning and lower rent-to-income ratios support retention
- Household growth within a 3-mile radius expands the tenant base and supports occupancy stability
- Proximity to major employers across tech, healthcare, finance, and electronics supports steady demand
- Risks: below-metro safety ranking and an owner-leaning area require careful leasing strategy and asset positioning