| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 60th | Good |
| Amenities | 54th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3855 9th Ave N, Saint Petersburg, FL, 33713, US |
| Region / Metro | Saint Petersburg |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | 2008-07-16 |
| Transaction Price | $2,550,000 |
| Buyer | WH LAKESIDE VILLA LLC |
| Seller | LAKESIDE APARTMENTS LLC |
3855 9th Ave N, Saint Petersburg Multifamily Investment
Stabilized renter demand is supported by neighborhood incomes and mid-tier rent levels, according to WDSuite’s CRE market data. The submarket’s fundamentals point to steady leasing with room for value-add upside at the property level.
Located in an Inner Suburb of Saint Petersburg within the Tampa–St. Petersburg–Clearwater metro, the neighborhood is competitive among metro peers (ranked 233 out of 710 neighborhoods), indicating balanced livability and access for workforce renters. Parks, childcare, and grocery access test well versus national benchmarks, while cafes and pharmacies are thinner locally, shaping daily convenience and car reliance.
Amenity depth skews toward essentials: parks and childcare options perform in the top quartile nationally, and grocery access sits well above the national middle. By contrast, limited cafe and pharmacy density suggests fewer lifestyle and healthcare retail choices nearby, which may modestly temper walkable appeal but keeps focus on practical services valued by long-term renters.
Neighborhood rent levels sit above national medians (mid‑70s percentile), while the rent‑to‑income ratio tracks on the lower side nationally, a mix that can support leasing resilience and reduce near‑term turnover risk. At the neighborhood level, occupancy is moderate and has softened slightly over the last five years; operators should emphasize retention programs and targeted renewals to sustain performance. These patterns align with WDSuite’s commercial real estate analysis for similar inner‑suburban nodes in the region.
Within a 3‑mile radius, the share of housing units that are renter‑occupied is roughly one‑third, indicating a sizable—though not dominant—tenant base for multifamily. Recent years show a small population dip alongside household growth, pointing to smaller household sizes and a gradual shift toward rental demand. Projections call for meaningful increases in households by 2028 with rising incomes, expanding the renter pool and supporting occupancy and rent growth potential relative to metro trends.
For family‑oriented renters, average school ratings in the area trail national norms, which can affect unit mix strategy and marketing to households with school‑age children. Elevated home values relative to national averages reinforce reliance on multifamily housing, helping support lease retention and pricing power for well‑managed assets.
Safety metrics trend weaker than both metro and national norms. The neighborhood ranks 557 out of 710 neighborhoods in the Tampa–St. Petersburg–Clearwater metro, placing it below the metro median on safety. Nationally, the area sits in lower percentiles for both violent and property offenses, signaling a need for prudent security planning and resident experience initiatives.
On trend, violent‑offense rates show a slight year‑over‑year improvement, while property‑offense rates have moved up recently. Investors should underwrite for appropriate lighting, access control, and community standards, and consider partnerships with local resources to support resident confidence without relying on block‑level assumptions.
Proximity to major employers—including Jabil Circuit, Raymond James Financial, Tech Data, and WellCare—supports a diverse white‑collar and skilled manufacturing workforce, underpinning renter demand and commute convenience for residents.
- Jabil Circuit — electronics manufacturing (5.9 miles)
- Jabil Circuit — electronics manufacturing (6.4 miles) — HQ
- Raymond James Financial — financial services (7.3 miles) — HQ
- Tech Data — IT distribution (9.5 miles) — HQ
- Wellcare Health Plans — managed health care (19.3 miles) — HQ
3855 9th Ave N offers a 24‑unit, 1972‑vintage asset in an inner‑suburban location where essential amenities perform well and home values trend above national norms. According to CRE market data from WDSuite, neighborhood rents benchmark above national medians while rent‑to‑income levels remain comparatively manageable—conditions that can support occupancy stability when paired with attentive operations.
The 1972 vintage suggests clear value‑add and capital planning opportunities—targeted interior updates, common‑area improvements, and system modernization can enhance competitiveness against newer stock while preserving a workforce‑oriented price point. Household growth and rising incomes within a 3‑mile radius point to renter pool expansion, supported by proximity to major employment nodes. Key risks include below‑average safety metrics and mixed school performance; underwriting should incorporate security investments and retention strategies.
- Inner‑suburban location with parks, childcare, and grocery access outperforming national norms
- Rent levels above national medians with comparatively moderate rent‑to‑income, supporting leasing durability
- 1972 vintage presents value‑add upside via targeted renovations and system upgrades
- Diverse employment base nearby (electronics, finance, IT distribution, healthcare) underpins renter demand
- Risks: below‑average safety metrics and softer neighborhood occupancy trends warrant active management