| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 29th | Poor |
| Demographics | 36th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6440 62nd Ave N, Pinellas Park, FL, 33781, US |
| Region / Metro | Pinellas Park |
| Year of Construction | 1985 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6440 62nd Ave N Pinellas Park Multifamily Investment
Positioned in an inner-suburb location with strong daily-needs access, this 27-unit asset benefits from steady renter demand and modernization potential, according to WDSuite’s CRE market data. Neighborhood occupancy trends are softer, so performance will hinge on effective leasing, competitive finishes, and operational execution.
This inner-suburb setting in Pinellas County offers everyday convenience that supports leasing: dense restaurant, cafe, grocery, and pharmacy options place the neighborhood in high national percentiles for amenities, while the lack of nearby parks may limit outdoor recreation appeal. The neighborhood carries a B- rating and sits mid-pack within the Tampa–St. Petersburg–Clearwater metro, suggesting balanced but competitive fundamentals for multifamily.
For investors, the rent context is workable. Neighborhood contract rents sit around the middle of national distributions and have risen over the past five years, while the rent-to-income ratio remains comparatively modest. In a high-cost ownership market this would typically reinforce pricing power; here, ownership costs are more accessible relative to many U.S. neighborhoods, which can create some competition with renting and places a premium on property upgrades and service to drive retention.
Demographic indicators aggregated within a 3-mile radius point to a larger tenant base over time. Population and households have edged up in recent years and are forecast to grow further, with incomes also projected to rise. This combination supports renter pool expansion and can underpin occupancy stability as new households form and more renters enter the market.
The asset’s 1985 vintage is newer than the neighborhood’s average building era (1970s), offering relative competitiveness versus older stock while still leaving room for targeted renovations and systems updates to capture value-add upside. With neighborhood-level occupancy softer than national norms, disciplined leasing strategy and amenity-forward upgrades are likely to matter more than usual.
Neighborhood safety metrics trend below national averages, and the area ranks in the higher-crime half among 710 metro neighborhoods. Recent estimates indicate property offenses have increased year over year, while violent offense rates remain lower than property offenses but still below national safety percentiles. For underwriting, this argues for pragmatic measures such as lighting, access control, and resident engagement to support retention and mitigate risk, rather than assuming block-level outcomes.
Nearby corporate employment centers provide a diverse white-collar demand base and convenient commutes, supporting leasing depth and retention for workforce and professional tenants. Notable employers include Jabil Circuit, Raymond James Financial, Tech Data, and Wellcare Health Plans.
- Jabil Circuit — corporate offices (5.0 miles)
- Raymond James Financial — corporate offices (5.4 miles) — HQ
- Tech Data — corporate offices (6.2 miles) — HQ
- Wellcare Health Plans — corporate offices (17.8 miles) — HQ
6440 62nd Ave N is a 27-unit 1985-vintage asset positioned in a convenience-rich inner suburb. Dense daily-needs retail supports renter appeal, while neighborhood occupancy trends run softer than national norms—making leasing execution and thoughtful upgrades central to performance. According to CRE market data from WDSuite, the surrounding 3-mile area shows rising incomes and a growing household base, with contract rents projected to continue advancing, which can support pricing and absorption for well-managed assets.
The vintage offers a practical value-add path—competitive versus older local stock yet old enough to benefit from interior refreshes and select systems modernization. Ownership is comparatively accessible in this neighborhood, so differentiating on finishes, service, and security can help sustain retention and limit competition from entry-level for-sale options.
- Amenity-dense inner-suburb location supports renter demand and everyday convenience.
- 1985 vintage presents value-add upside versus older neighborhood stock.
- 3-mile demographics show population and income growth that can expand the renter base.
- Rents and rent-to-income levels suggest room for competitive positioning with upgrades.
- Risks: softer neighborhood occupancy and below-average safety metrics require strong operations, security, and leasing focus.