Finding Target Neighborhood for Multifamily in Tampa

6 Replies

Hi guys!

I'm wondering how people decided what neighborhood(s) to invest in and how I can figure that out long distance. I'm going to be new to Tampa area but I won't be moving there until September. I've been devouring article after article about multi family units and the more I read, the more I realize that is the area I want to focus on. I'm going to be using my VA Loan and would like to start the pre approval process right about now. I'm going to be working in Ruskin, FL. Should I rent for a few months so I can have time to get to know the neighborhoods and areas? Thoughts, ideas, advice?

Thanks!

Check out podcast 52, it has some great content on market analysis. I hope that helps, best of luck!!

Hi,

There are not many multis in the south county area (south of Brandon). There is very little industry in Ruskin at this time but that will be the direction of the urban sprawl. The Little Harbor area has been dominated by Chinese and Canadian $. What buisness are you in? I know the area well and I am also looking for multis. I have seen the most Oppurtunity for multi family in Tampa proper. Best of luck!

Lot of new construction going on southbound 41 & 301

@Kerry Hennessy I work for Amazon so I'll be transferring there when their new site is built. Searches in or near Ruskin never yield results but for Tampa I get pages and pages of different styles, prices and locations. And of course the properties always look fantastic online! Another option is to get in touch w/ an agent, give them my parameters and spend a week down there looking at properties. Then I could also attend a TREIA meeting and start to meet people.

@Joseph Caracappa Thanks for the info.

Because of the way it developed (denser, geared towards part time resident retirees, etc) Pinellas County has significantly more smaller apartment properties than Hillsborough. Hillsborough's explosive growth periods occurred in the era of the large/institutional-owned era of complexes, post 1965. There are small MF properties in Hills, but not nearly in the numbers there are in Pinellas. You might want to consider S Pinellas County. It is no further from South Bay than the more densely populated areas of Hillsborough/Tampa.

Eric Odum is right. There are some good multis in Pinellas. If you are use your VA you could go up to 4 units. St Pete would put you around 40 minutes or so to work. I just drove to Ruskin on Thursday from central Clearwater and it was a 50 minute drive at pre rush hour.

Thanks for the input. I'll expand my search into S. Pinellas county as well.

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