| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Poor |
| Demographics | 57th | Fair |
| Amenities | 35th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1447 Herbert Ave, South Lake Tahoe, CA, 96150, US |
| Region / Metro | South Lake Tahoe |
| Year of Construction | 2009 |
| Units | 33 |
| Transaction Date | 2006-12-29 |
| Transaction Price | $650,000 |
| Buyer | TAHOE SENIOR HOUSING II LP |
| Seller | AMERICAN BAPTIST HOMES OF THE WEST |
1447 Herbert Ave, South Lake Tahoe Multifamily
Newer 2009 vintage in a high-cost ownership market suggests durable renter demand and competitive positioning, according to WDSuite s CRE market data. Neighborhood occupancy trends warrant underwriting discipline, but renter depth in the broader 3-mile radius supports leasing stability.
Situated in South Lake Tahoe within the Sacramento metro, the neighborhood holds a B- rating and ranks 329 out of 561 metro neighborhoods, placing it around the metro median. Amenity access is above the metro median (rank 278 of 561) with parks particularly competitive among Sacramento neighborhoods (rank 220 of 561; top quartile nationally). Caf s are also competitive locally (rank 123 of 561; high national percentile), while restaurants, groceries, and pharmacies are sparser within the immediate neighborhood, an underwriting consideration for resident convenience.
School options average 3.0 out of 5 (rank 122 of 561; above the metro median nationally), which can aid family retention. Median home values sit in a high-cost ownership market (88th percentile nationally), and the value-to-income ratio is among the highest nationally (98th percentile), factors that typically sustain multifamily demand by reinforcing reliance on rental housing rather than ownership.
Tenure patterns differ by geography: within the neighborhood, the share of housing units that are renter-occupied is modest (about three in ten, rank 276 of 561), implying a thinner immediate renter concentration. However, demographics aggregated within a 3-mile radius indicate a larger renter base (about six in ten units renter-occupied) and recent growth in households, which supports a broader tenant pool for leasing.
Construction stock nearby skews older (average year 1967), while this asset s 2009 vintage offers relative competitiveness versus older comparables. Neighborhood occupancy (57.4%, rank 537 of 561; low national percentile) is below metro norms and should be factored into underwriting for seasonality and leasing cadence; balanced against this, rent-to-income levels in the neighborhood are moderate (around 20%), which can help with retention and pricing power management.
Safety data for this neighborhood are limited in the current release, and WDSuite s CRE market data do not publish a comparable rank or percentile for crime at this time. Investors typically benchmark safety at the neighborhood and submarket levels using local law enforcement and municipal sources, then compare trends against regional peers to inform leasing assumptions and operating protocols.
Given the absence of a metro rank, a practical approach is to evaluate recent area trends, property-level incident history, and management practices, and to compare against nearby Sacramento metro neighborhoods for context.
Regional employment access is anchored by distribution and foodservice, which can support workforce renter demand through commute-oriented leasing.
- Sysco Food Service foodservice distribution (37.6 miles)
The 33-unit property at 1447 Herbert Ave benefits from a 2009 construction year in a submarket dominated by older stock, positioning it competitively on finishes, systems, and curb appeal while still offering potential for targeted upgrades over time. High home values and an elevated value-to-income ratio in the neighborhood underpin renter reliance on multifamily housing, and demographics within a 3-mile radius indicate a larger renter pool with household gains that support occupancy stability and leasing velocity.
According to CRE market data from WDSuite, neighborhood occupancy is lower than metro norms, so underwriting should calibrate lease-up cadence and renewal expectations accordingly. At the same time, moderate rent-to-income levels and projected income growth in the 3-mile radius suggest room for disciplined revenue management. Overall, the investment case combines newer vintage, high-cost ownership context, and a broader-area renter base, with lease-up pacing and amenity access as the key watch items.
- 2009 vintage relative to older neighborhood stock supports competitive positioning and selective value-add
- High-cost ownership market sustains renter demand and aids retention potential
- Broader 3-mile area shows a larger renter base and household growth, supporting leasing
- Moderate rent-to-income dynamics enable disciplined pricing and renewal strategies
- Risks: below-metro neighborhood occupancy and limited immediate retail require conservative lease-up assumptions