| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 63rd | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 327 34th Ave N, Saint Petersburg, FL, 33704, US |
| Region / Metro | Saint Petersburg |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
327 34th Ave N, St. Petersburg Multifamily Investment
Neighborhood fundamentals point to steady renter demand and competitive amenities, based on CRE market data from WDSuite, with metrics referenced at the neighborhood level rather than this specific property.
Situated in an inner-suburb pocket of Saint Petersburg, the neighborhood rates well overall (A) and is competitive among Tampa–St. Petersburg–Clearwater neighborhoods (ranked 49 out of 710). According to WDSuite’s CRE market data, local livability is supported by strong everyday services: restaurants and parks score in the mid-90s nationally by percentile, pharmacies and childcare access also track high, and grocery access is above many U.S. neighborhoods. Cafe density is limited, but day-to-day conveniences are a clear strength.
Renter concentration is elevated for the metro (the share of housing units that are renter-occupied sits in a high national percentile), signaling depth in the tenant base. Neighborhood occupancy trends have been softer versus national norms, so underwriting should prioritize leasing execution and retention. School quality averages near slightly above national benchmarks, which can support broader demand for multifamily housing.
Within a 3-mile radius, population has expanded in recent years and households have increased, with WDSuite data indicating further growth ahead alongside smaller average household sizes. For investors, that combination generally translates to a larger tenant base and sustained demand for rental units, even as unit mix and amenity positioning should reflect more one- to two-person households.
Ownership costs in the area are comparatively high relative to incomes by national percentile, and home values trend above many U.S. neighborhoods, which tends to reinforce reliance on rental housing. That backdrop can aid pricing power and lease-up velocity for well-positioned multifamily assets, while still requiring careful attention to rent-to-income levels for retention.
Safety compares as mixed. Versus the Tampa–St. Petersburg–Clearwater metro, the neighborhood’s crime standing is around the middle of the pack (ranked 399 out of 710 neighborhoods). Nationally, safety percentiles indicate below-average standing, particularly for property offenses; however, WDSuite data shows a sharp year-over-year decline in property offense estimates, suggesting improvement in trend even if the level remains elevated.
Investors should interpret this as a leasing and retention consideration rather than a deal-breaker: monitor ongoing trend lines, emphasize on-site security best practices, and calibrate marketing to highlight proximity advantages and amenity access that support resident satisfaction.
The nearby employment base blends electronics manufacturing, financial services, and healthcare administration—sectors that support steady renter demand and commute convenience for workforce housing. The employers below are representative of the area’s drivers and are listed by proximity.
- Jabil Circuit — electronics manufacturing offices (4.1 miles)
- Raymond James Financial — financial services (6.0 miles) — HQ
- Tech Data — technology distribution (9.0 miles) — HQ
- Wellcare Health Plans — healthcare administration (16.7 miles) — HQ
- Cardinal Health — healthcare distribution (17.9 miles)
Built in 1972, the property offers classic-vintage characteristics that can support a value-add strategy through targeted renovations and systems updates. The surrounding neighborhood is competitive within the Tampa–St. Petersburg–Clearwater metro and shows strong amenity access, while homeownership costs track high by national percentile—factors that typically sustain multifamily demand. According to CRE market data from WDSuite, neighborhood occupancy runs below national norms, so returns will hinge on diligent leasing, unit positioning, and tenant retention.
Within a 3-mile radius, households have increased and are projected to continue rising as average household size trends smaller—expanding the renter pool and supporting occupancy stability for appropriately sized units. Rent-to-income dynamics suggest affordability pressure in parts of the renter base, warranting careful rent setting and renewal management to balance pricing power with retention.
- 1972 vintage points to renovation and operational upside for a value-add plan
- Competitive neighborhood within the metro and strong day-to-day amenities support leasing
- Elevated ownership costs reinforce reliance on rentals, aiding demand and pricing power
- 3-mile household growth and smaller household sizes expand the tenant base
- Risk: neighborhood occupancy trails national norms; underwrite leasing execution and retention focus