| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 61st | Good |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 Burlington Ave N, Saint Petersburg, FL, 33705, US |
| Region / Metro | Saint Petersburg |
| Year of Construction | 1983 |
| Units | 115 |
| Transaction Date | 2022-12-23 |
| Transaction Price | $8,250,000 |
| Buyer | BURLINGTON TOWER APARTMENTS LP |
| Seller | SUNCOAST CHRISTIAN HOUSING INC |
1000 Burlington Ave N Saint Petersburg Multifamily Investment
Positioned near downtown amenities with a renter-leaning housing mix, this asset benefits from strong daily-needs access and a high-cost ownership market, according to WDSuite’s CRE market data. Neighborhood occupancy has been softer, so performance hinges on leasing execution and retention.
The immediate area offers dense food and grocery options that support renter convenience. Restaurant density ranks among the highest nationally and grocery access is also strong, while cafes are comparatively plentiful. However, childcare, parks, and pharmacies are sparse in the neighborhood, which may influence resident expectations and service offerings.
WDSuite indicates the neighborhood has a majority share of renter-occupied housing units, signaling a deeper tenant base and steady multifamily demand. By contrast, demographics aggregated within a 3-mile radius show a more balanced tenure mix and modest household sizes, which can favor smaller-format units and efficient layouts.
Home values sit on the higher side for the region and rank well nationally, reinforcing reliance on multifamily rentals and supporting pricing power when operations are well-managed. At the same time, neighborhood-level occupancy has trended softer in recent years, suggesting competitive leasing conditions and the need for focused marketing, renewals, and amenity alignment.
Looking ahead, WDSuite’s data within a 3-mile radius points to population stability and a projected increase in households by 2028, expanding the renter pool and supporting occupancy stability for well-positioned properties. The property’s 1983 vintage is slightly newer than the neighborhood average, which can aid competitive positioning versus older stock, though investors should plan for modernization of aging systems as part of capital planning.
Safety metrics are mixed and warrant underwriting diligence. The neighborhood’s crime rank is below the metro median among 710 Tampa–St. Petersburg–Clearwater neighborhoods, and national comparisons place it in a lower safety percentile. Recent year-over-year crime rate increases in the area further suggest investors should evaluate on-site security measures, lighting, and resident communication as part of operational planning.
Proximity to regional corporate employers supports commuter demand and retention for workforce-oriented units. Nearby anchors include Jabil, Raymond James Financial, Tech Data, Wellcare Health Plans, and Cardinal Health.
- Jabil Circuit — electronics manufacturing (6.5 miles) — HQ
- Raymond James Financial — financial services (7.9 miles) — HQ
- Tech Data — technology distribution (10.6 miles) — HQ
- Wellcare Health Plans — healthcare (18.9 miles) — HQ
- Cardinal Health — healthcare distribution (19.2 miles)
This 115-unit, 1983-vintage community sits near a dense amenity base and a renter-leaning neighborhood, with home values elevated relative to incomes—factors that reinforce multifamily demand and potential pricing power when operations are disciplined. Based on CRE market data from WDSuite, neighborhood occupancy has been softer, so returns are likely to rely on leasing execution, renewals, and targeted upgrades that sharpen value relative to older comparables.
Demographics aggregated within a 3-mile radius show stable population trends and a projected increase in households by 2028, expanding the renter pool and supporting leasing durability. The property’s slightly newer vintage versus the local average provides competitive positioning, though investors should plan for modernization and system updates typical for assets of this era.
- Dense restaurant and grocery access supports renter convenience and leasing velocity.
- Renter-occupied concentration in the neighborhood indicates depth of tenant demand.
- Elevated ownership costs bolster reliance on rentals, aiding pricing power when well-operated.
- 1983 vintage offers a competitive edge versus older stock with targeted modernization.
- Risk: Softer neighborhood occupancy and safety metrics require careful leasing, security, and retention strategies.