| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 60th | Good |
| Amenities | 56th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3980 64th St N, Saint Petersburg, FL, 33709, US |
| Region / Metro | Saint Petersburg |
| Year of Construction | 1973 |
| Units | 88 |
| Transaction Date | 2021-12-23 |
| Transaction Price | $12,525,000 |
| Buyer | BAYSIDE TERRACE SENIOR LIVING LLC |
| Seller | GAHC4 BAYSIDE FL SH LLC |
3980 64th St N Saint Petersburg Multifamily Investment
Neighborhood occupancy is strong and stable, supporting an 88-unit asset’s leasing prospects, according to WDSuite’s CRE market data. This inner-suburb location offers resilient renter demand alongside room for operational value creation.
Located in Saint Petersburg’s inner suburbs, the property sits in a neighborhood rated A- and competitive among Tampa-St. Petersburg-Clearwater neighborhoods (ranked 136 of 710). According to WDSuite’s commercial real estate analysis, neighborhood occupancy trends are in the top quartile nationally, a constructive signal for income stability at comparable assets.
Local livability signals skew positive for everyday conveniences: pharmacy access ranks in the upper tier nationally, and park access is also strong, supporting resident retention. Dining density is above national midpoints, while cafes and full-service groceries are less concentrated within the immediate area—operators typically offset this with resident services or partnerships.
School quality benchmarks trend modestly above national midpoints, with average ratings around 3 out of 5, which can support longer stays among household renters. Median home values sit above national norms, which often reinforces reliance on multifamily rentals—an advantage for lease retention and pricing power when managed carefully.
Within a 3-mile radius, demographic data indicate a growing household base and a gradual reduction in average household size over time, pointing to a larger tenant base even when population growth is mixed. Renter-occupied share is roughly one-quarter of housing units within this 3-mile area, signaling a meaningful but not saturated renter concentration that supports demand depth without over-reliance on transient tenancy.
Safety trends are mixed but improving. Based on WDSuite data, the neighborhood’s recent year-over-year declines in both violent and property offenses outperformed many areas nationally, suggesting a constructive trajectory. Current safety levels remain below national midpoints, so investors commonly underwrite pragmatic measures such as lighting, access control, and partnerships with local patrols to support resident confidence and retention.
Proximity to diversified employment nodes underpins renter demand, with major employers in electronics manufacturing, finance, IT distribution, and managed care within commuting range.
- Jabil Circuit — electronics manufacturing (5.8 miles)
- Raymond James Financial — financial services (6.5 miles) — HQ
- Tech Data — IT distribution (7.6 miles) — HQ
- Wellcare Health Plans — managed care (18.9 miles) — HQ
- Cardinal Health — healthcare distribution (22.9 miles)
This Saint Petersburg asset benefits from strong neighborhood occupancy—ranked in the upper tiers nationally—alongside an A- neighborhood rating and proximity to diversified employers that help sustain leasing velocity. Homeownership costs trend elevated relative to national benchmarks, which supports multifamily reliance and can enhance pricing power when balanced with sound lease management and resident experience.
Within a 3-mile radius, WDSuite’s data show growth in households and rising incomes projected through the mid-term, pointing to an expanding renter pool and supportive fundamentals for stabilized multifamily operations. According to CRE market data from WDSuite, rents in the area track above national midpoints while rent-to-income metrics remain manageable, a combination that supports occupancy stability and disciplined rent growth potential.
- Neighborhood occupancy trends in the top quartile nationally support income stability
- Elevated ownership costs in the area reinforce renter reliance and support retention
- 3-mile household growth and rising incomes expand the renter base
- Proximity to major employers supports leasing velocity and reduces turnover risk
- Risk: safety metrics remain below national midpoints; prudent security and underwriting are advisable