Pulse on Clearwater multifamily market?

3 Replies

Hi everyone,

I'm looking at a small multifamily property just east of downtown Clearwater, and I am hoping to get some feedback on the local market from anyone familiar with the area (demographics, forecasts, etc.). I'm based in Orlando, and my knowledge of that area is more in the Tampa/St. Pete markets.

From what I can tell, it appears that neighborhoods can change relatively quickly from nice to not-so-nice. There is one new multifamily complex (The Nolen) that I know of that is still in lease-up, but I'm wondering if anyone has any insights or opinions on what they think the local area is like: are people moving in to downtown Clearwater area, companies moving in or out/number of jobs increasing or decreasing, etc.

Any insight would be tremendously helpful.

Ben

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Almost anywhere in Tampa Bay is 🔥 right now. Multifamily is extremely hot and the deals almost aren’t making sense for the experienced investors or anyone for that matter. There are a ton of resources online to search demographics, crime rates, growth, etc. I personally wouldn’t buy a property without driving around the neighborhood or seeing photos/videos for that reason of how streets can change quickly. We see a bunch of fund $ or foreign investors pushing prices higher and higher I mean there are people buying at 85-90% which is absolutely crazy.

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