| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 52nd | Poor |
| Amenities | 57th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1500 S Novato Blvd, Novato, CA, 94947, US |
| Region / Metro | Novato |
| Year of Construction | 1985 |
| Units | 99 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1500 S Novato Blvd Novato Multifamily Opportunity
Neighborhood occupancy trends are competitive among San Rafael’s 58 neighborhoods, supported by a high-cost ownership market that sustains renter demand, according to WDSuite’s CRE market data.
Located in Novato’s inner suburban fabric of the San Rafael, CA metro, the area scores above the metro median (ranked 27 of 58 neighborhoods) for overall amenities. Grocery access is a relative strength with density in the 97th percentile nationally, while restaurants track around the 70th percentile. Parks and childcare access also test well (both near the upper quartile nationally), though café and pharmacy density are limited, which may modestly affect walk-to convenience.
For multifamily demand, the neighborhood’s renter-occupied share is approximately half of housing units (ranked 10 of 58), indicating a deep tenant base and durable leasing backdrop. Neighborhood occupancy is 95.8% (ranked 18 of 58), competitive among San Rafael neighborhoods and above national norms, which supports income stability for well-operated assets.
Ownership remains a high-cost proposition here. Home values sit in the 94th percentile nationally and the value-to-income ratio tracks in the 95th percentile, reinforcing renter reliance on multifamily housing and supporting pricing power. Median contract rents benchmark high nationally (95th percentile), while a rent-to-income ratio of 0.29 suggests some affordability pressure that owners should manage thoughtfully at renewal to support retention.
Demographic statistics aggregated within a 3-mile radius show slight population contraction over the last five years with forecasts that are broadly stable ahead. At the same time, household counts are projected to rise, pointing to smaller household sizes and a larger tenant base over time. Incomes have grown materially and are projected to continue rising, which typically supports rent levels and occupancy among quality assets, based on CRE market data from WDSuite.
School ratings in the neighborhood trend below the national average (37th percentile), which may influence family-oriented leasing strategy. The property’s 1985 vintage is newer than the area’s average construction year (1977), offering competitive positioning versus older stock; investors should still plan for selective modernization of aging systems and common areas to optimize rents.
Comparable safety benchmarks for this specific neighborhood are not available in WDSuite’s dataset for the San Rafael, CA metro. Investors typically evaluate safety using a mosaic of sources — city and county reports, trend data at the neighborhood level, and on-the-ground observations — to understand how conditions may influence leasing and retention.
Given the lack of ranked or percentile crime metrics here, prudent underwriting would pair third-party crime trend reviews with management feedback and property-level incident history to contextualize resident expectations and operating practices without over-relying on block-level anecdotes.
Within a commutable distance to San Francisco’s core, major financial services and utilities headquarters provide a diversified white-collar employment base that can support renter demand and retention for Novato workforce and professional tenants. The employers below reflect the most relevant nearby anchors.
- Wells Fargo — banking HQ (22.8 miles) — HQ
- Salesforce.com — software HQ (22.9 miles) — HQ
- PG&E Corp. — utilities HQ (23.0 miles) — HQ
- McKesson — healthcare distribution HQ (23.1 miles) — HQ
- Charles Schwab — financial services HQ (23.2 miles) — HQ
This 99-unit, 1985-vintage Novato asset benefits from competitive neighborhood occupancy and a high-cost ownership market that sustains multifamily demand. Newer-than-area-average vintage supports positioning versus older stock, while select modernization can unlock value-add upside. According to CRE market data from WDSuite, rents benchmark high nationally and occupancy in the neighborhood is competitive among San Rafael submarkets, supporting cash flow durability with prudent lease management.
Within a 3-mile radius, incomes have risen and are projected to remain strong, while household counts are expected to grow despite flat-to-slightly lower population — a pattern consistent with smaller household sizes and a gradually expanding renter pool. Proximity to major Bay Area employers within a commutable range underpins a stable white-collar tenant base, though investors should consider localized school ratings and day-to-day amenity trade-offs in pricing and marketing.
- Competitive neighborhood occupancy with strong renter-occupied housing share supports income stability
- High-cost ownership market reinforces rental demand and pricing power potential
- 1985 vintage offers relative competitiveness versus older stock with targeted modernization upside
- Rising incomes and commutable access to major Bay Area employers support leasing depth
- Risks: below-average school ratings, limited café/pharmacy density, and modest population contraction may influence leasing strategy