Q1-Q2 2026 Hillsborough County Multifamily Sales Report | Verdad CRE



Verdad Commercial Real Estate ServicesMarket Intelligence
Q1–Q2 2026  •  January – June
Hillsborough County
Multifamily Sales Report
Hillsborough County, Florida
19
Qualified Sales
783
Units Sold
$133.3M
Total Volume
$215K
Median $/Unit
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Executive Summary

Hillsborough County recorded 19 qualified multifamily sales at or above $750,000 during the first half of 2026, totaling $133,280,300 across 783 units. Activity accelerated through the period, with 7 sales closing in Q1 against 12 in Q2 and quarterly volume rising from $44.6M to $88.7M. The period’s largest transaction was 17220 Heart of Palms Dr in Tampa, a 379-unit community built in 2002 that traded on June 3, 2026 for $67,500,000, or $178,100 per unit. Two institutional transactions of $10 million or more accounted for $103.9M, roughly 78% of total dollar volume. Excluding those two deals, the remaining 17 sales totaled $29.38M at a median price of $1,020,000 and a median of $221,250 per unit. Small multifamily continued to price at a premium, with 2-4 unit assets averaging $330,647 per unit versus $155,824 for 5+ unit product. Qualified sales reflect arm’s-length transactions as designated by the Hillsborough County Property Appraiser, deduplicated by parcel and filtered to improved multifamily assets priced at $750,000 or above.

Key Market Metrics
$133.28M
Total Volume
$1,285,000
Median Sale Price
$215,000
Median $/Unit
$248
Median $/SF
Monthly Activity
Month Sales Total Volume Avg Price Avg $/Unit Avg $/SF
January 1 $1.94M $1,937,500 $484,375 $1,000
February 2 $2.07M $1,034,250 $161,925 $216
March 3 $4.20M $1,398,333 $335,833 $431
April 2 $3.91M $1,955,000 $255,625 $276
May 5 $12.80M $2,560,280 $260,232 $349
June 4 $4.47M $1,116,975 $279,244 $246
Transaction pace built steadily across the half, with May recording both the highest sale count and the largest ex-institutional volume at $12.80M across 5 closings. Monthly figures exclude the two institutional transactions so the underlying market trend is not masked by single large trades.
Sales by Property Type
Type Sales Total Vol Avg $/Unit
Duplex / Triplex / Fourplex 12 $13.13M $330,647
Apartments (10–49 Units) 5 $16.25M $155,470
Apartments (50+ Units) 2 $103.90M $156,708
Sales by Submarket
Submarket Sales Volume Avg $/Unit
Tampa 14 $92.04M $283,849
Temple Terrace 1 $36.40M $135,316
Plant City 1 $1.50M $500,000
Thonotosassa 1 $1.29M $128,850
Brandon 1 $1.29M $128,500
Apollo Beach 1 $768K $191,975

Complete Sales Log
Date Address City Sale Price Units $/Unit $/SF Yr
01/02/26 1902 Watrous Ave Tampa $1,937,500 4 $484,375 $1,000.26 1945
02/04/26 4913 E Temple Heights Rd Tampa $780,000 4 $195,000 $240.15 1982
02/18/26 10605 Walker Rd Thonotosassa $1,288,500 10 $128,850 $191.37 1981
03/12/26 3303 W Barcelona St Tampa $1,020,000 3 $340,000 $361.19 1924
03/12/26 5158 C P Keen Rd Plant City $1,500,000 3 $500,000 $683.99 1959
03/17/26 11720 N 15th St Tampa $1,675,000 10 $167,500 $248.41 1961
03/30/26 11500 Summit West Blvd Temple Terrace $36,400,000 269 $135,316 $130.07 1972
04/03/26 3921 W State St Tampa $760,000 2 $380,000 $415.07 2023
04/15/26 8731 N 50th St Tampa $3,150,000 24 $131,250 $137.10 1983
05/04/26 213 W Warren Ave Tampa $948,700 4 $237,175 $299.09 1928
05/06/26 1405 S Lorenzo Ave Tampa $8,850,000 40 $221,250 $312.85 1960
05/14/26 803 E Palm Ave Tampa $867,700 3 $289,233 $501.56 1902
05/19/26 1510 S Habana Ave Tampa $850,000 2 $425,000 $446.43 1948
05/26/26 1201 Mook St Brandon $1,285,000 10 $128,500 $183.99 1970
06/03/26 17220 Heart of Palms Dr Tampa $67,500,000 379 $178,100 $147.80 2002
06/05/26 2114 Dekle Ave Tampa $860,000 4 $215,000 $188.18 1937
06/05/26 2116 Dekle Ave Tampa $840,000 4 $210,000 $183.81 1937
06/05/26 1806 W Morrison Ave Tampa $2,000,000 4 $500,000 $434.78 1922
06/29/26 1037 Apollo Beach Blvd Apollo Beach $767,900 4 $191,975 $176.98 1986
Institutional transactions of $10M or above are included in the log. Total SF reflects heated living area as recorded by the County Property Appraiser; price per square foot is calculated on that basis.

Full Report Access
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  • All 19 qualified multifamily transactions with units, $/unit, and $/SF
  • Quarter-over-quarter comparison and monthly activity detail
  • Sales by property type, submarket, and building vintage
  • Price per unit distribution and size-class pricing (2-4 unit vs 5+ unit)
  • Top 10 transactions, methodology, and full disclaimer

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