| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 64th | Good |
| Amenities | 12th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10601 4th St N, Saint Petersburg, FL, 33716, US |
| Region / Metro | Saint Petersburg |
| Year of Construction | 1985 |
| Units | 84 |
| Transaction Date | 2011-06-02 |
| Transaction Price | $19,500,000 |
| Buyer | SIENNA BAY GARDENS ASSOCIATES LP |
| Seller | DT SIENNA BAY LLC |
10601 4th St N St. Petersburg 84-Unit Multifamily
Renter concentration is strong and proximity to major employers supports steady leasing, according to WDSuite’s CRE market data. Occupancy in the surrounding neighborhood trails the metro median, suggesting operational upside for a well-executed value-add plan.
Located in an inner-suburban pocket of Saint Petersburg, the property sits near major employment corridors while daily-needs retail inside the immediate neighborhood is limited. Dining access trends better than other amenities, with restaurants comparatively available versus many U.S. neighborhoods, but groceries, parks, and pharmacies are sparse nearby—implying residents may rely on short drives for errands.
Neighborhood-level occupancy runs below the metro median (ranked 479 among 710 metro neighborhoods), pointing to a competitive leasing environment. However, the share of renter-occupied housing units is high at the neighborhood level (60.6%, ranked 47 of 710), indicating a deep tenant base that can support demand for multifamily assets.
Within a 3-mile radius, population has grown in recent years and households have expanded at a faster pace, while average household size is trending smaller. This pattern typically broadens the renter pool and supports occupancy stability for well-located properties.
Construction in the neighborhood skews to the late-1980s on average; with a 1985 vintage, this asset may require targeted capital planning and presents value-add potential to modernize finishes and systems. From an ownership-cost perspective, the surrounding area reflects a more accessible ownership market, which can introduce some competition with renting, but income growth and expanding households support sustained rental demand.
Taken together, the location offers commuter convenience to regional job centers with a serviceable amenity base and demographics that favor a stable tenant pipeline. For investors prioritizing commercial real estate analysis, the balance of renter concentration and household growth trends is the key demand signal.
Neighborhood safety trends are comparatively favorable within the Tampa–St. Petersburg–Clearwater metro, with the area positioned in the top quartile among 710 metro neighborhoods by crime rank (129th). Nationally, the neighborhood sits around the midrange, reflecting moderate relative safety.
Recent year-over-year estimates indicate meaningful declines in both property and violent offense rates in the neighborhood, a constructive trend for resident retention and leasing confidence. As always, investors should evaluate property-level measures and submarket trends alongside neighborhood data when underwriting.
The immediate area is anchored by corporate offices that draw a large professional workforce, supporting renter demand through commute convenience. Notable nearby employers include Jabil Circuit, Raymond James Financial, Tech Data, and Wellcare Health Plans.
- Jabil Circuit — electronics manufacturing corporate offices (0.6 miles) — HQ
- Raymond James Financial — financial services (2.2 miles) — HQ
- Tech Data — IT distribution (5.4 miles) — HQ
- Wellcare Health Plans — managed care/healthcare services (12.5 miles) — HQ
This 84-unit property, built in 1985, offers a classic mid-80s vintage profile suited to selective renovations that can enhance rentability and reduce near-term maintenance risk. Renter-occupied housing is prevalent at the neighborhood level, supporting a broad tenant base, while the surrounding neighborhood’s occupancy sits below the metro median—creating room for operational improvement through upgrades and disciplined leasing. Based on CRE market data from WDSuite, proximity to major employers helps underpin demand even as the immediate amenity mix is limited.
Within 3 miles, recent population growth, a faster increase in total households, and smaller average household sizes point to renter pool expansion that can support occupancy stability. Investors should account for some competition from accessible ownership options in underwriting and recognize the neighborhood’s competitive crime positioning within the metro as a supporting factor for retention.
- 1985 vintage with clear value-add and capital planning angles to modernize and differentiate
- High neighborhood renter-occupied share indicates depth of tenant base
- Employer adjacency (Jabil, Raymond James, Tech Data) supports steady leasing
- Household growth and shrinking household size within 3 miles signal renter pool expansion
- Risks: below-metro occupancy, limited immediate amenities, and some competition from ownership options