| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 80th | Fair |
| Amenities | 29th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 130 Cielo Ln, Novato, CA, 94949, US |
| Region / Metro | Novato |
| Year of Construction | 1998 |
| Units | 88 |
| Transaction Date | 2010-05-28 |
| Transaction Price | $16,055,000 |
| Buyer | Davlyn Investments, Inc. |
| Seller | Thomas L Frankel Properties |
130 Cielo Ln, Novato Multifamily Investment in Marin
Neighborhood occupancy ranks first among 58 in the San Rafael metro, supporting lease stability for an 88-unit asset, based on CRE market data from WDSuite.
Located in suburban Novato within the San Rafael metro, the neighborhood posts a C+ rating yet shows strong multifamily fundamentals: neighborhood occupancy is the metro’s highest (1 of 58), signaling durable renter demand and low downtime risk for stabilized assets.
The property’s 1998 vintage is newer than the neighborhood’s average construction year (1980). That positioning helps competitiveness versus older stock while still warranting routine capital planning for systems and common-area refreshes that support rent optimization.
Within a 3-mile radius, demographics indicate a sizable and expanding tenant base with rising household counts and incomes, pointing to continued renter pool expansion. Approximately 37% of neighborhood housing units are renter-occupied, suggesting sufficient depth for leasing and renewals without overreliance on in-migration.
Amenity density is modest (few cafes and pharmacies by metro standards), but restaurant access is competitive among San Rafael neighborhoods and average school ratings trend strong for the metro—helpful for family-oriented appeal. Elevated ownership costs in Marin County and high neighborhood home values reinforce reliance on multifamily housing, which can aid lease retention and pricing power when paired with disciplined operations.
Safety indicators compare favorably nationally, with violent offense measures in the top quartile across U.S. neighborhoods and improving year over year—supportive of resident retention and leasing stability.
Property offense levels track better than the national average but have shown a recent uptick, a common suburban pattern to monitor. Investors typically mitigate with lighting, access control, and engagement; the overall trend remains competitive by national benchmarks while aligning with normal variability for the San Rafael region.
Access to major Bay Area employers underpins professional renter demand and commute convenience. Key nearby employment nodes include Wells Fargo, Ameriprise Financial, Salesforce, PG&E, and McKesson.
- Wells Fargo — financial services (19.6 miles) — HQ
- Ameriprise Financial — financial services (19.6 miles)
- Salesforce.com — software & cloud (19.7 miles) — HQ
- PG&E Corp. — utilities (19.9 miles) — HQ
- McKesson — healthcare distribution (19.9 miles) — HQ
This 88-unit, 1998-vintage asset benefits from a high-demand Novato location where the neighborhood’s occupancy ranks first among 58 metro neighborhoods. Elevated ownership costs and strong incomes in Marin support sustained reliance on rental housing, while 3‑mile demographics point to growth in households—drivers that can reinforce occupancy stability and renewal performance over time, according to CRE market data from WDSuite.
The vintage is newer than the area’s average stock, providing a competitive edge versus older communities and a practical path for targeted value-add through systems upkeep and common-area updates. Amenity density is modest and property crime bears monitoring, but safety trends are favorable nationally and proximity to major Bay Area employers supports a resilient professional renter base.
- Neighborhood occupancy leads the San Rafael metro, supporting stable leasing
- 1998 construction competes well against older local stock with selective upgrade upside
- Elevated home values reinforce renter reliance, aiding retention and pricing power
- 3-mile population and household growth expands the tenant base
- Risks: modest amenity density and recent property-crime uptick warrant ongoing monitoring