| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 53rd | Fair |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4725 39th Ave N, Saint Petersburg, FL, 33714, US |
| Region / Metro | Saint Petersburg |
| Year of Construction | 1973 |
| Units | 22 |
| Transaction Date | 2006-03-30 |
| Transaction Price | $1,069,200 |
| Buyer | PALATINO PROPERTIES LLC |
| Seller | 585 NORTH AVENUE CORP |
4725 39th Ave N Saint Petersburg 22‑Unit Value‑Add Multifamily
Neighborhood occupancy sits in the mid‑90s, supporting income stability relative to metro peers, according to WDSuite’s CRE market data. With a 1973 vintage and modest unit sizes, the asset aligns with value‑add or targeted modernization plays.
Set within an inner‑suburb pocket of Saint Petersburg, the neighborhood shows above metro median renter‑occupied concentration and competitive occupancy versus Tampa–St. Petersburg–Clearwater peers (710 neighborhoods measured). These are neighborhood‑level dynamics, not property performance, but they point to a steady multifamily tenant base and support for lease retention.
Daily‑needs access is a relative strength: grocery and pharmacy density register in the top quartile nationally, while restaurant coverage is also strong. By contrast, cafes and parks are limited nearby, which may temper some lifestyle appeal but doesn’t typically impair workforce housing demand. Average school ratings trend slightly above national midlines (roughly 3 out of 5), reinforcing broad family appeal without commanding premium pricing.
Within a 3‑mile radius, the population has expanded modestly and households have grown, with projections calling for additional household gains alongside smaller average household size over the next five years. For investors, that combination usually signals a larger tenant pool and support for occupancy stability. Median contract rents have risen historically and are projected to continue climbing, a backdrop that can aid revenue management while still requiring attention to affordability and lease renewal strategies as part of thoughtful commercial real estate analysis.
The asset’s 1973 construction is slightly newer than the neighborhood’s average vintage (late 1960s). For underwriting, this often translates to ongoing capital planning for aging systems but also identifiable renovation upside versus older competing stock.
Safety metrics for the neighborhood sit below the metro median among 710 Tampa–St. Petersburg–Clearwater neighborhoods and trend weaker versus many areas nationally. However, recent data indicates property crime has declined year over year, suggesting improving conditions even as violent‑crime readings remain comparatively elevated. These are neighborhood‑level summaries intended to provide context rather than block‑level conclusions.
Nearby corporate nodes broaden the renter base and support retention, with large employers in corporate services and technology within commuting distance. The bullets reflect proximate offices and headquarters most relevant to workforce housing demand.
- Jabil Circuit — corporate offices (4.6 miles)
- Jabil Circuit — corporate offices (5.2 miles) — HQ
- Raymond James Financial — corporate offices (5.8 miles) — HQ
- Tech Data — corporate offices (7.6 miles) — HQ
- Wellcare Health Plans — corporate offices (18.0 miles) — HQ
This 22‑unit property offers a practical value‑add angle backed by neighborhood fundamentals that favor renter demand. Neighborhood occupancy is strong and competitive among Tampa–St. Petersburg–Clearwater neighborhoods, which can help stabilize collections through cycles, according to CRE market data from WDSuite. Within a 3‑mile radius, modest population growth and a projected increase in households point to a gradually expanding renter pool, while shrinking average household size tends to support demand for smaller, well‑managed units.
Built in 1973, the asset likely warrants targeted capital planning for building systems and interiors. That vintage can be advantageous versus older stock: selective renovations, common‑area upgrades, and curb‑appeal improvements may improve positioning against nearby Class B/C competitors. Rents have moved upward locally and are projected to continue rising, supporting revenue management, though investors should monitor affordability to mitigate turnover risk and preserve renewal velocity.
- Neighborhood occupancy is strong versus metro peers, supporting income stability
- 1973 vintage enables value‑add through system upgrades and interior refreshes
- 3‑mile household growth and smaller household size expand the tenant base
- Daily‑needs access (grocery/pharmacy) supports resident retention for workforce housing
- Risk: safety metrics lag stronger submarkets; prudent screening and community programming recommended