| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 41st | Fair |
| Amenities | 32nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2601 School St, Fortuna, CA, 95540, US |
| Region / Metro | Fortuna |
| Year of Construction | 2013 |
| Units | 35 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2601 School St Fortuna CA 35-Unit Multifamily
Steady neighborhood occupancy and a high-cost ownership backdrop point to durable renter demand in Fortuna, according to WDSuite’s CRE market data. These indicators reflect the neighborhood, not this specific property, and suggest potential for stable performance in a suburban setting.
The property sits in a suburban pocket of the Eureka-Arcata metro with a B- neighborhood rating and occupancy that ranks 9th of 59 neighborhoods—top quartile nationally by percentile—signaling generally resilient absorption and lease retention at the neighborhood level. Median contract rents rank 8th of 59 with strong multi‑year growth, indicating pricing power relative to many local peers (figures reflect the neighborhood, not the property).
Daily needs are supported by grocery and pharmacy access that rank 10th and 8th of 59 metro neighborhoods, respectively, while cafes and parks are sparse. This pattern favors convenience-oriented living but limits lifestyle amenities on the doorstep, a factor to consider for leasing strategy and resident retention.
Construction in this neighborhood skews older (average 1971), while this asset’s 2013 vintage positions it as newer than much of the local stock. Newer construction typically competes well for quality-conscious renters; investors should still plan for routine system updates over the hold to preserve competitive positioning.
Within a 3‑mile radius, households grew about 15% over the past five years with population up modestly and average household size trending smaller. Looking ahead, forecasts show a slight population dip but a notable increase in households, which can expand the tenant base and support occupancy stability even as unit mix and leasing plans may need to address changing household composition. Elevated home values and a high value‑to‑income ratio for the neighborhood suggest a high‑cost ownership market that can sustain reliance on rentals, supporting pricing power when managed alongside rent‑to‑income considerations.
Neighborhood safety indicators are mixed. The area ranks 51st of 59 metro neighborhoods for overall crime, placing it below the metro median and around the middle of neighborhoods nationwide by percentile. Recent data show property offenses trending down year over year, while violent offense estimates rose, underscoring the importance of proactive security measures and resident communication.
These metrics are neighborhood-level and can shift over time; investors should benchmark against comparable Eureka‑Arcata submarkets and monitor trend direction when underwriting retention and operating expenses.
This 35‑unit, 2013‑built asset benefits from a neighborhood with top‑quartile occupancy and rent levels that outperform many local peers, supporting a case for stable cash flow. Based on commercial real estate analysis from WDSuite, the combination of newer construction relative to the neighborhood’s older stock and a high‑cost ownership market reinforces the depth of the renter pool and potential pricing power, provided lease management stays aligned with rent‑to‑income thresholds.
Within a 3‑mile radius, recent household growth and forecasts showing more households alongside smaller sizes point to a broader renter pool and steady demand for multifamily units. Amenity access favors grocery and pharmacy convenience over lifestyle options, guiding an operations strategy that emphasizes on‑site features and service quality to drive retention.
- Newer 2013 vintage competes well versus older neighborhood stock; plan for routine system updates over hold
- Neighborhood occupancy ranks 9th of 59, supporting underwriting for stable lease‑up and retention
- High‑cost ownership market bolsters renter dependence, aiding pricing power with careful rent‑to‑income management
- 3‑mile household expansion and smaller household sizes indicate a larger tenant base for multifamily
- Risks: limited lifestyle amenities nearby and mixed safety trends; small‑market liquidity and expense variability warrant conservative underwriting