| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 59th | Good |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 900 70th St N, Saint Petersburg, FL, 33710, US |
| Region / Metro | Saint Petersburg |
| Year of Construction | 1974 |
| Units | 20 |
| Transaction Date | 2018-10-15 |
| Transaction Price | $1,760,000 |
| Buyer | KAI NALU LLC |
| Seller | BRADENTON LAW LLC |
900 70th St N St. Petersburg Multifamily Opportunity
Inner-suburban positioning with a high-cost ownership market supports steady renter demand and retention potential, according to WDSuite’s CRE market data. Neighborhood-level rents track mid-market while ownership costs trend higher for the metro, creating a practical base for workforce leasing.
Located in Saint Petersburg’s inner suburbs, the neighborhood rates a B and is competitive among Tampa–St. Petersburg–Clearwater neighborhoods (ranked in the stronger 40% of 710). Daily needs are well served with grocery and pharmacy access performing in the top decile nationally, while restaurants are also dense for the area; however, parks and cafés are limited nearby, so lifestyle appeal hinges more on retail convenience than green space or coffee culture.
At the neighborhood level, occupancy trends sit below national norms, suggesting leasing strategies should emphasize value and retention. Median contract rents are higher than many U.S. neighborhoods, yet rent-to-income metrics point to manageable affordability, which can support leasing stability and limit turnover risk for investors focused on consistent cash flow.
Housing tenure skews toward ownership, with a moderate share of renter-occupied units. For multifamily owners, this typically means a defined but reliable tenant pool, with demand anchored by households that prefer professionally managed rentals over homeownership—especially where ownership costs are elevated relative to incomes.
Demographics aggregated within a 3-mile radius indicate mixed near-term signals but constructive medium-term momentum. Recent population change was soft, yet WDSuite’s data shows meaningful projected growth in both households and incomes over the next five years alongside smaller average household size. For multifamily, that combination generally expands the renter pool and supports occupancy stability even as new supply competes for tenants.
The property’s 1974 vintage is older than the area’s average construction year. Investors should plan for ongoing capital expenditures and consider value-add upgrades to improve competitive positioning against newer stock, particularly in kitchens, baths, building systems, and curb appeal.
Safety indicators benchmark below metro averages and sit in lower national percentiles, signaling higher crime exposure than many U.S. neighborhoods. Within the Tampa–St. Petersburg–Clearwater metro’s 710 neighborhoods, this area performs in the weaker half, so operators should account for security, lighting, and tenant communication as part of asset management.
Trend signals are mixed: property offense rates show modest year-over-year improvement, while violent offense metrics have recently moved the other way. For underwriting and operations, a pragmatic approach that includes preventative measures and coordination with local resources can help support resident satisfaction and retention.
Proximity to major corporate employers supports commuter demand and leasing durability, with concentrations in electronics manufacturing, financial services, and healthcare appearing within typical drive times.
- Jabil Circuit — electronics manufacturing (7.5 miles)
- Raymond James Financial — financial services (8.4 miles) — HQ
- Tech Data — technology distribution (9.5 miles) — HQ
- Wellcare Health Plans — healthcare services (20.8 miles) — HQ
This 20-unit, 1974-vintage asset in Saint Petersburg’s inner suburbs offers a practical value-add angle in a neighborhood with strong retail conveniences and an expanding regional employment base. Neighborhood-level rents are relatively elevated versus many U.S. areas, but rent-to-income metrics indicate manageable affordability, supporting retention and steady leasing. According to CRE market data from WDSuite, amenity access is a strength (groceries, pharmacies, and restaurants rate high nationally) while occupancy and safety benchmarks require more hands-on operations.
Looking ahead, 3-mile demographics point to rising household counts, higher incomes, and smaller household sizes, which typically expand the renter pool and support occupancy stability. Given the older vintage, investors should budget for targeted renovations and building-system work to defend rents against newer competition and capture value-add upside.
- Inner-suburban location with strong everyday retail access that supports consistent leasing.
- Manageable rent-to-income context aids tenant retention and reduces turnover risk.
- 3-mile outlook shows growth in households and incomes, expanding the renter pool.
- 1974 vintage offers value-add potential through unit and systems upgrades.
- Key risks: below-average safety benchmarks and softer neighborhood occupancy, requiring proactive operations.