| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 67th | Poor |
| Amenities | 51st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1725 Novato Blvd, Novato, CA, 94947, US |
| Region / Metro | Novato |
| Year of Construction | 1977 |
| Units | 30 |
| Transaction Date | 2002-03-23 |
| Transaction Price | $1,440,000 |
| Buyer | SCHALLER LEE W |
| Seller | LEGRAS W DEAN |
1725 Novato Blvd Multifamily Investment Opportunity
This 30-unit property benefits from strong neighborhood fundamentals, with 32.6% rental occupancy and high-income demographics supporting tenant demand in Marin County's stable housing market.
Located in Novato's inner suburb environment, this property sits within a neighborhood ranking 34th among 58 metro neighborhoods, earning a B- rating. The area demonstrates strong housing fundamentals with an 80th national percentile ranking, while maintaining competitive positioning above metro median levels. Demographics within a 3-mile radius show substantial household wealth, with median income of $123,167 and 28.6% of households earning over $200,000 annually.
The neighborhood's rental market shows 32.6% of housing units are renter-occupied, creating a meaningful tenant base for multifamily properties. Current occupancy rates of 91.5% reflect stable demand, though this represents a 6.7 percentage point decline over five years that warrants monitoring for lease management considerations. Median contract rents of $2,453 have grown 34.7% over five years, demonstrating pricing power despite some affordability pressure indicated by rent-to-income ratios.
Built in 1977, this property's vintage aligns with neighborhood averages and may present value-add renovation opportunities for investors seeking to modernize units and capture rent premiums. The area benefits from solid amenity access, ranking in the top quintile nationally for childcare and grocery store density per square mile, supporting tenant retention through convenience factors. Forward-looking demographics project continued household formation and income growth, with median household income forecast to reach $147,509 by 2028.
Property crime rates in this neighborhood rank 15th among 58 metro neighborhoods, placing it in the 79th national percentile for safety - indicating above-average security conditions compared to neighborhoods nationwide. Violent crime rates show more moderate positioning at the 64th national percentile, with recent year-over-year increases requiring attention though overall levels remain manageable for multifamily operations.
The neighborhood's safety profile supports stable tenant retention and leasing activity, with crime statistics generally favorable relative to metro and national benchmarks. Investors should monitor recent crime trend changes as part of ongoing property management and tenant screening protocols.
The property benefits from proximity to major Bay Area corporate centers, with several Fortune 500 headquarters and offices within commuting distance supporting professional tenant demand.
- Wells Fargo — financial services headquarters (23.8 miles)
- Ameriprise Financial — financial services (23.8 miles)
- Salesforce.com — technology headquarters (23.9 miles)
- PG&E Corp. — utilities headquarters (24.0 miles)
- McKesson — healthcare distribution headquarters (24.0 miles)
This 30-unit property offers investors exposure to Marin County's affluent rental market, supported by high household incomes and stable occupancy fundamentals. According to CRE market data from WDSuite, the neighborhood maintains 91.5% occupancy with strong rent growth of 34.7% over five years, reflecting sustained tenant demand despite some recent softening. The property's 1977 construction presents value-add opportunities through unit renovations and common area improvements.
Demographic projections show continued household income growth and renter pool expansion within the 3-mile radius, supporting long-term occupancy stability. The neighborhood's 80th national percentile housing ranking and proximity to major Bay Area employment centers reinforce its investment appeal for workforce housing. However, recent occupancy declines and elevated rent-to-income ratios require careful lease management and competitive positioning strategies.
- Strong household income demographics with 28.6% earning over $200,000 annually
- Neighborhood ranks 80th national percentile for housing fundamentals
- Value-add potential through 1977 vintage property improvements
- Proximity to major Bay Area corporate headquarters supports tenant demand
- Risk consideration: Recent occupancy softening and affordability pressure require active management