| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 53rd | Fair |
| Amenities | 51st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6700 102nd Ave N, Pinellas Park, FL, 33782, US |
| Region / Metro | Pinellas Park |
| Year of Construction | 1981 |
| Units | 104 |
| Transaction Date | 2018-12-11 |
| Transaction Price | $1,600,000 |
| Buyer | HOUSING FINANCE AUTHORITY OF PINELLAS CO |
| Seller | OCEANSIDE HOUSING PARTNERS LP |
6700 102nd Ave N, Pinellas Park Multifamily Investment
Neighborhood occupancy trends are above the metro median, supporting steady renter demand at this inner-suburb location, according to WDSuite s CRE market data. Owner-leaning tenure nearby suggests a defined renter pool with potential pricing discipline rather than oversupply-driven leasing.
Positioned in Pinellas Park within the Tampa St. Petersburg Clearwater metro, the neighborhood rates B+ and is competitive among metro neighborhoods, indicating balanced fundamentals for workforce-oriented multifamily. Grocery and pharmacy access test well versus national peers (both in higher national percentiles), while cafes and restaurants provide everyday convenience. Limited parks and childcare options may constrain lifestyle appeal for some residents, which can influence unit mix strategy.
Neighborhood occupancy is above the metro median, a constructive signal for leasing stability. Median asking rents in the area sit above many U.S. neighborhoods, and the rent-to-income profile indicates manageable affordability pressure, supporting retention and measured rent growth management. Home values sit in a mid-range for the region, which points to a high-cost ownership market in certain segments but not one that fully crowds out rental demand.
Within a 3-mile radius, demographics show a largely stable population in recent years with projections indicating population and household growth ahead, implying a larger tenant base and continued renter pool expansion. The share of housing units that are renter-occupied in the immediate neighborhood is below half, suggesting an owner-leaning area; for investors, this typically means demand concentrates in well-located, professionally managed communities rather than being diffused across abundant rental stock.
The average construction vintage nearby is late-1970s. The subject s 1981 vintage is slightly newer than the neighborhood s average, signaling potential value-add through targeted interior and common-area updates while maintaining competitive positioning against older stock; capital planning should account for aging systems and selective modernization. School ratings in the area trend below national norms, which can affect family-focused leasing but may be less material for smaller-unit demand anchored by employment access.
Safety indicators for the neighborhood track below national averages, reflecting higher crime exposure than many U.S. neighborhoods. However, recent data points to year-over-year declines in both property and violent offenses, suggesting improving conditions. Within the Tampa St. Petersburg Clearwater metro (710 neighborhoods), the area sits below the metro average for safety, so underwriting should incorporate prudent security measures and loss expectations while recognizing the improving trend.
Proximity to major corporate employers underpins weekday demand and commute convenience for renters. Key nearby anchors include Tech Data, Raymond James Financial, and Jabil Circuit, which support a stable white-collar employment base for the submarket.
- Tech Data technology distribution (4.0 miles) HQ
- Raymond James Financial financial services (4.2 miles) HQ
- Jabil Circuit electronics manufacturing (4.8 miles)
- Jabil Circuit electronics manufacturing (5.1 miles) HQ
This 104-unit, 1981-vintage community sits in a competitive inner-suburb location where neighborhood occupancy trends run above the metro median, supporting stable leasing. The area s owner-leaning renter concentration indicates a defined tenant base rather than oversupplied rental stock, while everyday amenities and proximity to major employers bolster retention dynamics. Based on commercial real estate analysis from WDSuite, rents and rent-to-income levels suggest manageable affordability pressure, offering room for disciplined revenue management.
The vintage positions the asset for selective value-add modernizing interiors and common areas to stay ahead of nearby late-1970s product. Within a 3-mile radius, forecasts call for population and household growth, which would expand the tenant pool and support occupancy. Investors should underwrite typical risks for the submarket, including below-average school ratings and safety metrics that, while improving, still trail national benchmarks.
- Above-metro neighborhood occupancy supports leasing stability and cash flow durability.
- 1981 vintage offers clear value-add potential through targeted upgrades and system modernization.
- Amenity access and proximity to major employers underpin renter retention and demand.
- Manageable rent-to-income profile supports pricing power without overextending affordability.
- Risks: below-average school ratings and safety metrics below national norms, mitigated by recent improvement trends.