| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Poor |
| Demographics | 67th | Best |
| Amenities | 54th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7525 83rd St, Seminole, FL, 33777, US |
| Region / Metro | Seminole |
| Year of Construction | 1986 |
| Units | 58 |
| Transaction Date | 2023-11-17 |
| Transaction Price | $17,500,000 |
| Buyer | PARK PORTFOLIO OWNER LLC |
| Seller | PINELLAS 56 LLC |
7525 83rd St Seminole Multifamily Investment Opportunity
Positioned in an inner-suburb pocket of Seminole with steady renter demand and solid neighborhood fundamentals, this asset benefits from income depth and improving amenities, according to WDSuite’s CRE market data.
Seminole’s inner-suburb setting offers daily convenience for residents. Grocery and pharmacy access ranks competitive among Tampa–St. Petersburg–Clearwater neighborhoods (206 out of 710 for overall amenities) with above-average counts of childcare, grocery, and pharmacy options relative to many U.S. neighborhoods. School quality trends positively as well, with the average rating landing in the top quartile nationally, supporting family-oriented renter appeal.
At the neighborhood level, occupancy has been softer than the national median in recent years, which places a premium on effective leasing and renewals. Median household incomes sit above most U.S. neighborhoods, and rent-to-income levels remain manageable, which can help support retention and pricing across typical renewal cycles. According to CRE market data from WDSuite, median home values are higher than many areas nationally while ownership remains attainable for some households; this mix sustains rental reliance for many residents while introducing some competition from ownership alternatives.
Within a 3-mile radius, demographics indicate a balanced age distribution and stable household sizes. While recent population trends have been mixed, projections point to population growth and an increase in households through the next five years, expanding the local renter pool and reinforcing occupancy stability for well-positioned properties.
Vintage and positioning matter: built in 1986 versus a neighborhood average vintage from the late 1970s, the property is newer than much of the surrounding stock. That typically supports competitive leasing versus older assets and may limit near-term capital needs, though investors should still plan for system modernization and select renovations to sustain renter appeal and rent growth over the hold.
Safety indicators are generally above the metro average when compared across 710 Tampa–St. Petersburg–Clearwater neighborhoods, with violent incident levels around the national middle. Recent trends show a notable decline in violent offenses year over year, which is a constructive signal for long-term renter retention and leasing stability.
Property crime sits closer to national mid-range levels. For underwriting, a prudent approach is to reflect stable-to-improving conditions while monitoring submarket-specific trends over time rather than block-level variance.
Proximity to major corporate offices underpins a diversified employment base and supports renter demand through commute convenience. Key nearby employers include Tech Data, Raymond James Financial, Jabil Circuit, and Wellcare Health Plans.
- Tech Data — corporate offices (6.0 miles) — HQ
- Raymond James Financial — corporate offices (6.1 miles) — HQ
- Jabil Circuit — corporate offices (6.3 miles)
- Jabil Circuit — corporate offices (6.7 miles) — HQ
- Wellcare Health Plans — corporate offices (18.2 miles) — HQ
This 58-unit, 1986-vintage asset in Seminole aligns with steady renter demand drivers and a broad employment base. The property’s slightly newer vintage relative to nearby stock supports competitive positioning versus older assets, with targeted modernization likely sufficient to maintain appeal. Neighborhood schools test well, amenities are convenient, and household incomes are comparatively strong—factors that can aid renewal velocity even as neighborhood-level occupancy has tracked below national medians.
Within a 3-mile radius, projections point to population growth and more households over the next five years, indicating a larger tenant base and potential support for occupancy stability. Based on commercial real estate analysis using WDSuite’s CRE market data, ownership remains attainable for some households locally, which introduces competition at certain price points; however, elevated convenience, school quality, and proximity to anchor employers collectively reinforce multifamily demand.
- Slightly newer 1986 vintage versus area stock supports competitive leasing with targeted updates
- Strong school quality and amenity access bolster family-oriented renter retention
- Diversified employment nearby (Tech, finance, healthcare) supports steady tenant demand
- 3-mile demographics project population and household growth, expanding the renter base
- Risk: neighborhood occupancy below national medians and attainable homeownership can increase leasing competition