| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Poor |
| Demographics | 36th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6190 62nd Ave N, Pinellas Park, FL, 33781, US |
| Region / Metro | Pinellas Park |
| Year of Construction | 1972 |
| Units | 79 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6190 62nd Ave N Pinellas Park Multifamily Value-Add
Amenity-dense inner suburb with steady 3-mile household growth supports renter demand, according to WDSuite’s CRE market data.
Located in Pinellas Park within the Tampa–St. Petersburg–Clearwater metro, the neighborhood rates B- and sits within an inner-suburb context. Amenity access is a clear strength: neighborhood counts for restaurants, cafés, groceries, and pharmacies rank in the upper tier nationally, supporting daily convenience and helping multifamily communities compete for tenants.
Within a 3-mile radius, demographics indicate a large and diverse resident base with modest population and household growth and rising incomes, expanding the potential renter pool over the next several years. These dynamics typically support occupancy stability and leasing velocity for well-positioned assets.
Renter-occupied housing comprises a smaller share of total units within 3 miles relative to many urban cores, suggesting an owner-leaning area. For investors, this points to a moderate but durable tenant base where well-maintained apartments can win on convenience, price-to-quality, and proximity to jobs.
Vintage across the neighborhood skews mid-1970s on average, and the subject property’s 1972 construction positions it slightly older than nearby stock—often translating to targeted value-add upside through interior renovations, system updates, and curb-appeal improvements to sharpen competitive positioning.
Two considerations for underwriting: park access is limited within the immediate neighborhood, and the neighborhood’s occupancy performance trends toward the lower end among metro peers. Both factors elevate the importance of on-site amenities, maintenance standards, and effective leasing to capture demand generated by the strong retail and service footprint and nearby employment nodes.
Safety outcomes in this neighborhood track below many U.S. neighborhoods, and relative to the Tampa–St. Petersburg–Clearwater metro they trend toward the higher-crime end (ranked 495 out of 710 metro neighborhoods). Nationally, safety percentiles in the lower ranges indicate conditions that warrant prudent operating practices.
Recent data also show a year-over-year uptick in property-related incidents. For investors, this typically calls for thoughtful security measures, lighting and access controls, and active coordination with local resources to support resident retention and asset performance over the hold period.
The area benefits from proximity to major corporate employers that support a broad workforce tenant base and convenient commutes for residents, including Jabil Circuit, Raymond James Financial, Tech Data, and Wellcare Health Plans.
- Jabil Circuit — electronics manufacturing (4.7 miles)
- Raymond James Financial — financial services (5.1 miles) — HQ
- Jabil Circuit — electronics manufacturing (5.2 miles) — HQ
- Tech Data — IT distribution (6.2 miles) — HQ
- Wellcare Health Plans — healthcare services (17.5 miles) — HQ
This 79-unit, 1972-vintage community sits in an inner-suburb node with strong retail and service density that helps draw and retain renters. According to CRE market data from WDSuite, neighborhood amenities rank competitively at the national level, while 3-mile demographics point to an expanding household base and rising incomes—both supportive of a larger tenant pool and steady leasing for well-maintained units. The vintage suggests practical value-add potential through interior updates and building systems planning to strengthen rentability versus newer product.
Key underwriting considerations include neighborhood occupancy that trends toward the lower end among metro peers and safety metrics that warrant active property management. Offsetting factors are the deep nearby employment base and dense daily-needs retail, which can bolster leasing velocity and retention when paired with disciplined operations and targeted capital improvements.
- Amenity-rich inner suburb supports renter demand and day-to-day convenience
- 3-mile radius shows growing households and rising incomes, expanding the renter pool
- 1972 vintage offers actionable value-add through interiors and systems upgrades
- Proximity to major employers underpins leasing and retention potential
- Risk: neighborhood occupancy and safety trends require hands-on management and prudent capital planning