| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 84th | Best |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1150 102nd Ave N, Saint Petersburg, FL, 33716, US |
| Region / Metro | Saint Petersburg |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | 2016-12-01 |
| Transaction Price | $44,500,000 |
| Buyer | A V B H BEL AIR LLC |
| Seller | --- |
1150 102nd Ave N Saint Petersburg Multifamily Investment
High renter concentration in the surrounding neighborhood supports a deep tenant base and leasing durability, according to WDSuite’s CRE market data. This commercial real estate analysis points to steady demand drivers rather than short-term momentum.
Located in an Inner Suburb of Saint Petersburg, the neighborhood ranks 102 out of 710 across the Tampa–St. Petersburg–Clearwater metro, indicating it is competitive among metro neighborhoods. Neighborhood occupancy trends are stable, with the local occupancy rate sitting near metro norms and improving over the past five years, which supports cash flow consistency for multifamily assets.
Renter-occupied housing comprises a high share of units locally (top tier in the metro at rank 15 of 710), signaling a large pool of prospective tenants and meaningful depth for lease-up and renewals. Median contract rents and household incomes in the neighborhood sit in higher national percentiles, and a rent-to-income ratio around the lower national percentiles suggests manageable affordability pressure that can aid retention while still allowing for disciplined rent management.
Within a 3-mile radius, population has grown in recent years, households have increased, and average household size has trended smaller. This combination expands the renter pool and supports occupancy stability for professionally managed properties. Forward-looking data suggests additional household growth by 2028, which should further reinforce multifamily demand.
Day-to-day amenities are sufficient for residents, with grocery, pharmacy, and restaurant density around mid-metro levels, though park, café, and childcare density is thinner. For investors conducting multifamily property research, these dynamics point to solid fundamentals driven by employment access and renter demand rather than lifestyle clustering.
Safety indicators are mixed and should be evaluated in context. The neighborhood’s overall crime rank sits near the metro midpoint (350 out of 710), and national comparisons place violent and property offense rates below typical safety percentiles. However, recent data shows notable year-over-year improvement in property offenses, with declines that rank in the stronger percentiles nationally, according to WDSuite’s datasets.
For underwriting, this suggests monitoring trend direction rather than relying on a single-year snapshot, benchmarking against comparable Inner Suburb areas across the Tampa–St. Petersburg–Clearwater metro.
Proximity to major employers supports commuter convenience and a steady renter pipeline, led by electronics manufacturing, financial services, and healthcare/IT distribution employers listed below.
- Jabil Circuit — electronics manufacturing (0.2 miles)
- Jabil Circuit — electronics manufacturing (0.3 miles) — HQ
- Raymond James Financial — financial services (1.8 miles) — HQ
- Tech Data — IT distribution (5.1 miles) — HQ
- Wellcare Health Plans — managed care (13.2 miles) — HQ
1150 102nd Ave N comprises 20 units built in 1973, an older vintage relative to the neighborhood’s newer housing stock. That age profile points to potential value-add and capex planning opportunities to enhance competitiveness against 1990s-and-later product while targeting durable renter demand. The surrounding neighborhood shows a high renter-occupied share and occupancy around metro norms with multi-year improvement, providing a supportive backdrop for lease stability.
Within a 3-mile radius, population has grown, households have risen meaningfully, and smaller average household sizes indicate a larger tenant base over time. Elevated home values in the neighborhood context reinforce reliance on rental housing, while a relatively modest rent-to-income position helps with retention and measured pricing power. According to CRE market data from WDSuite, these factors align with consistent renter demand, though investors should remain attentive to amenity gaps and local safety comparisons when calibrating underwriting and reserves.
- High renter-occupied share and improving neighborhood occupancy support tenant demand and lease stability
- 1973 vintage offers value-add and modernization upside versus newer competitive stock
- 3-mile household growth and smaller household sizes expand the local renter pool
- Elevated ownership costs in the area underpin sustained reliance on rentals, aiding pricing discipline
- Risks: below-average national safety percentiles and thinner park/café amenities warrant conservative underwriting and reserves