| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 84th | Best |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1300 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 | AVBH BEL AIR LLC |
| Seller | NORTHLAND SUNBELT LLC |
1300 102nd Ave N St. Petersburg Multifamily Investment
Renter demand is supported by a high renter-occupied housing share in the surrounding neighborhood and a homeownership market with elevated values, according to WDSuite’s CRE market data. Occupancy trends are steady, suggesting stable cash flow potential with careful asset management.
Located in an Inner Suburb of the Tampa–St. Petersburg–Clearwater metro, the neighborhood scores an A and ranks 102 out of 710 metro neighborhoods—placing it in the top quartile locally. That positioning signals competitive fundamentals for multifamily relative to many parts of the metro.
Renter concentration is high, with a large share of housing units renter-occupied. For investors, that depth of the tenant base supports leasing velocity and renewal potential. Neighborhood occupancy has been near metro norms and improved over the last five years, reinforcing demand resilience rather than outlier volatility.
Within a 3-mile radius, the population has expanded alongside a notable increase in households, while average household size has trended smaller—conditions that typically expand the renter pool and support occupancy stability. Median household incomes have risen, and rent levels in the neighborhood benchmark as manageable relative to incomes, which can aid retention and measured rent growth.
Local convenience is serviceable: grocery and pharmacy access indexes around the metro middle, while restaurants are moderate and cafes and parks are limited. Elevated neighborhood home values compared with national norms indicate a high-cost ownership market, which often sustains reliance on rental housing and supports pricing power for well-maintained properties.
Vintage context matters: the submarket’s average construction year trends newer than 1990s, while this asset was built in 1973. That age profile points to potential capital planning needs but also creates clear value-add pathways through targeted renovations and system upgrades to compete with newer stock.
Safety indicators for the neighborhood are mixed relative to national benchmarks, with overall levels below national safety averages. However, recent trend data shows a meaningful year-over-year decline in property offenses, indicating improving conditions rather than deterioration.
Compared with other parts of the Tampa–St. Petersburg–Clearwater metro (710 neighborhoods), the area performs below the metro median on safety, but the direction of change is favorable. Investors should underwrite with conservative assumptions, incorporate routine security and lighting upgrades, and monitor submarket trends as improvements continue.
The immediate area draws on a diversified employment base anchored by electronics manufacturing services, financial services, IT distribution, and managed healthcare—supporting commuter convenience and renter retention for workforce-oriented multifamily.
- Jabil Circuit — electronics manufacturing services (0.3 miles)
- Jabil Circuit — electronics manufacturing services (0.4 miles) — HQ
- Raymond James Financial — financial services (1.8 miles) — HQ
- Tech Data — IT distribution (5.0 miles) — HQ
- Wellcare Health Plans — managed healthcare (13.2 miles) — HQ
This 20-unit, 1973-vintage property sits in an A-rated neighborhood that ranks within the top quartile among 710 metro neighborhoods—an indicator of competitive submarket fundamentals. High renter-occupied housing share and steady neighborhood occupancy point to a deep tenant base and stable leasing, while elevated home values support sustained reliance on rentals. According to CRE market data from WDSuite, household growth within a 3-mile radius and smaller average household sizes expand the renter pool, reinforcing demand for well-managed multifamily assets.
The asset’s older vintage suggests thoughtful capital planning can unlock value-add upside—modernizing interiors and core systems to position competitively against newer stock. Local amenities are adequate but not destination-level; underwriting should focus on durable employment access and rent-to-income dynamics that support retention and measured rent growth.
- Top-quartile neighborhood standing within the metro supports steady multifamily demand
- High renter-occupied housing share indicates depth of tenant base and renewal potential
- 1973 vintage provides value-add potential through renovations and system upgrades
- Proximity to major employers underpins leasing stability and retention
- Risks: older physical plant may require capex; safety indicators trail metro and national averages; amenity density is modest