| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Poor |
| Demographics | 57th | Fair |
| Amenities | 35th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3431 Spruce Ave, South Lake Tahoe, CA, 96150, US |
| Region / Metro | South Lake Tahoe |
| Year of Construction | 1994 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3431 Spruce Ave, South Lake Tahoe Multifamily Investment
Positioned in a high-cost ownership market with steady renter demand drivers, the asset benefits from neighborhood amenities and a renter base supported by hospitality and local services, according to WDSuite’s CRE market data. Neighborhood statistics reflect area-level dynamics rather than property performance, offering context for occupancy stability and lease retention strategies.
The immediate neighborhood carries a B- rating and sits mid-pack within the Sacramento–Roseville–Folsom metro (329 of 561 neighborhoods). Cafes and parks score well relative to national peers (both in the upper percentiles), suggesting livability strengths that help with leasing and retention, while limited grocery and pharmacy options within the neighborhood point to convenience gaps investors should factor into positioning and resident services.
Rents in the neighborhood trend above national levels (near the upper quartile nationally), while the rent-to-income profile skews toward lower affordability pressure versus many U.S. neighborhoods. Home values are elevated and the value-to-income ratio ranks near the top nationally, which typically sustains reliance on rentals and supports pricing power for well-managed assets.
Vintage matters: the property’s 1994 construction is newer than the neighborhood’s average 1967 stock. This can be a competitive edge versus older comparables, though investors should still plan for system modernization and selective capital improvements to meet current renter expectations.
Tenure indicators diverge by lens: at the neighborhood level, renter-occupied share is around the metro median, while demographic data aggregated within a 3-mile radius shows a higher renter concentration. For investors, this suggests a suitably deep tenant base locally, with the broader catchment reinforcing demand for multifamily units.
Demographic trends within a 3-mile radius point to modest population movement recently but an increase in households and families alongside a projected population growth outlook over the next five years. Smaller household sizes and rising incomes in the forecast imply continued renter pool expansion, which can support occupancy stability and measured rent growth for quality product.
Comparable crime benchmarks are not fully available for this neighborhood in WDSuite’s dataset, so property-level diligence and broader metro comparisons are prudent. Investors typically evaluate safety by looking at multi-year trends and how the area stacks up against the Sacramento–Roseville–Folsom region rather than relying on block-level snapshots.
Given the limited verified data at the neighborhood level, a practical approach is to triangulate police reports, resident feedback, and insurer or lender assessments to understand trend direction and any implications for leasing velocity, retention, and operating costs.
The local employment base features regional distribution and logistics that support service and hospitality workers, contributing to renter demand via commute-accessible jobs. Notable nearby employer includes:
- Sysco Food Service — food distribution (37.4 miles)
3431 Spruce Ave offers a 28-unit footprint built in 1994, newer than much of the surrounding housing stock. The submarket exhibits a high-cost ownership landscape with home values and value-to-income metrics near the top nationally, supporting sustained reliance on rentals and giving well-operated multifamily assets room to maintain pricing. Within a 3-mile radius, households have been increasing and are projected to grow further, pointing to a larger tenant base and demand support for stabilized occupancy over the medium term.
According to CRE market data from WDSuite, neighborhood-level rents trend above national norms while rent-to-income appears comparatively manageable for many residents, aiding retention. Amenity access to cafes and parks is a relative strength, though limited grocery and pharmacy presence and neighborhood occupancy that trails most metro peers warrant conservative underwriting and targeted asset management.
- 1994 vintage offers a competitive edge versus older local stock, with selective modernization enhancing positioning.
- High-cost ownership market reinforces renter reliance, supporting demand depth and pricing power.
- 3-mile household growth and smaller household sizes support a larger renter pool and occupancy stability.
- Amenity strengths (cafes, parks) aid leasing; limited grocery/pharmacy access is a positioning consideration.
- Risk factors: neighborhood occupancy ranks low within the metro and employment exposure to tourism/services can add cyclicality.