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Multifamily Weekly
Hillsborough County
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Tuesday, November 3, 2026 |
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12211 N 59th St Sells At $108,000 A Unit
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12211 N 59th St in Temple Terrace, 25 units, sold Sept. 2 for $2.7 million, or $108,000 a unit. U.S. Century Bank recorded a mortgage on it Oct. 27. A two bedroom around Temple Terrace and USF asks $1,485. |
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| Property |
Units |
Price |
Price / unit |
12211 N 59th St
Temple Terrace / USF · September 2026 |
25 |
$2.70M |
$108K |
8731 N 50th St
Temple Terrace / USF · April 2026 |
24 |
$3.15M |
$131K |
10605 Walker Rd
Thonotosassa · February 2026 |
10 |
$1.29M |
$129K |
Preserve at Tampa Palms
New Tampa · June 2026 |
378 |
$67.50M |
$179K |
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| 2BR Asking Rents By Submarket |
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| Submarket |
Avg 2BR |
| Tampa Urban Core |
$2,066 |
| South Tampa |
$2,161 |
| Westshore |
$2,110 |
| Brandon / Riverview |
$1,610 |
| Carrollwood / Northdale |
$1,929 |
| Temple Terrace / USF |
$1,485 |
| Plant City |
$1,574 |
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| 10,770 |
| affordable housing units planned, underway or completed in the City of Tampa, past the 10,000 goal, with almost half built or under construction (St Pete Catalyst, Oct 29) |
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| $21M |
| Tampa's share of the Rays stadium community benefits deal, $1.25 million of it for housing, after a 4-3 vote exempting the $2.3 billion project from the city ordinance (Tampa Bay Business & Wealth, Oct 29) |
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| 15,100 |
| jobs added in Hillsborough, Pasco and Hernando in the year to September, 93% of the region's gain (Tampa Bay Business & Wealth, Oct 28) |
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| In The News: Hillsborough County |
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Tampa surpasses 10,000 goal for affordable housing units
St Pete Catalyst · Oct 29
The city says 10,770 affordable units are planned, underway or completed against Mayor Castor's 10,000 goal, almost half of them built or under construction, with more than 1,100 units planned at the Army/Navy site in North Downtown, over 700 of them income-restricted. Every one of those units competes with a Class C two bedroom.
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Tampa Council Exempts Rays' $2.3B Stadium Project From Community Benefits Rules
Tampa Bay Business & Wealth · Oct 29
Council voted 4-3 Oct. 29 to exempt the Drew Park stadium district from the community benefits ordinance and approved a $21 million agreement, $1.25 million of it for housing. The first phase of the district includes no affordable housing. The construction payroll on 100 acres at Dale Mabry rents nearby for years.
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Tampa Accounts for 93% of Tampa Bay's Estimated Job Gains
Tampa Bay Business & Wealth · Oct 28
The Tampa division added 15,100 payroll jobs in the year to September, 1.4% growth, against 1,100 in Pinellas. Unemployment in the division rose to 4.5% from 4.3%. Job growth is what fills a Brandon two bedroom at $1,610.
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My Take On Hillsborough
Hillsborough apartment sales held flat from the second quarter to the third, about 50 deals each once the four institutional trades are set aside, but the dollars behind the small deals fell by a third, $36.5 million to $23.9 million. Deals that pencil are still getting done. What changed is how they close. Cash went from 26% of purchases in the second quarter to 48% in the third, and bridge and hard-money lenders went from 10 deals to 3. On buildings of ten units and up, one of the quarter's four buyers used a bank at closing. With the 10-year above 5% and prices holding, that is an effective lending freeze on anything that needs a commercial loan to pencil. The buyer with cash is setting the price, and a seller waiting for a financed buyer is waiting on rates.
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Value changes every year. Your plan should too.
Owners who get a BOV every one to two years make the hold, refinance, sell and estate decisions on current numbers instead of the price they paid. A Broker Opinion of Value from Verdad CRE puts a current market value on your building and the return on the equity in it. Confidential and at no cost.
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