| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 67th | Poor |
| Amenities | 51st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1811 Novato Blvd, Novato, CA, 94947, US |
| Region / Metro | Novato |
| Year of Construction | 1976 |
| Units | 70 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1811 Novato Blvd Multifamily Investment Opportunity
This 70-unit property benefits from strong neighborhood-level NOI performance ranking in the top 95th percentile nationally. According to CRE market data from WDSuite, the area maintains above-average occupancy rates with 91.5% occupancy supporting stable rental demand.
This Novato inner suburb neighborhood ranks 34th among 58 San Rafael metro neighborhoods with a B- rating, positioning it above the metro median. The area demonstrates solid fundamentals with a 95th percentile national ranking for NOI per unit performance at $15,352 average, indicating strong rental income potential for multifamily investors.
Demographics within a 3-mile radius show a mature, stable tenant base with median household income of $122,424 and 27.7% of housing units occupied by renters. The neighborhood maintains 91.5% occupancy rates, though this represents a modest 6.7 percentage point decline over five years. Median contract rents of $2,453 rank in the 96th percentile nationally, reflecting the area's premium positioning within the broader Bay Area rental market.
Built in 1976, this property aligns with the neighborhood's average construction year of 1981, suggesting consistent building stock without significant capital expenditure pressures from vintage mismatches. The area offers solid amenity access with grocery stores ranking in the 80th percentile nationally for density, supporting tenant retention through convenient daily needs access.
Home values averaging $950,264 with 41% five-year appreciation reinforce rental demand by maintaining elevated ownership costs that keep households in the rental market. The rent-to-income ratio of 0.28 suggests manageable affordability for the local income base, supporting lease retention and renewal stability.
The neighborhood demonstrates moderate safety performance relative to the San Rafael metro area. Property crime rates rank 15th among 58 metro neighborhoods, placing it in the top quartile locally and 79th percentile nationally. This indicates below-average property crime compared to neighborhoods nationwide.
Violent crime rates show 25th ranking among metro neighborhoods, positioning above the metro median with a 64th percentile national ranking. While recent violent crime trends show increases, the absolute rates remain moderate compared to national urban averages, supporting the area's appeal to quality tenants seeking stable residential environments.
The San Francisco Bay Area employment base provides diverse corporate anchors within commuting distance, supporting workforce housing demand for this Novato location.
- Wells Fargo — financial services (23.9 miles) — HQ
- Ameriprise Financial — financial services (23.9 miles)
- Salesforce.com — technology (24.0 miles) — HQ
- PG&E Corp. — utilities (24.2 miles) — HQ
- McKesson — healthcare services (24.2 miles) — HQ
This 70-unit Novato property presents a compelling value proposition anchored by exceptional NOI performance and stable occupancy fundamentals. The neighborhood's 95th percentile national ranking for NOI per unit at $15,352 average demonstrates strong income-generating potential, while 91.5% occupancy rates exceed many Bay Area submarkets facing greater vacancy pressures.
Built in 1976, the property offers potential value-add opportunities through selective unit improvements and common area enhancements that could capture additional rent premiums in this high-value market. Demographics within a 3-mile radius support long-term demand with household income growth of 25.2% over five years and elevated home values reinforcing rental market participation. According to multifamily property research from WDSuite, the combination of strong NOI metrics and stable occupancy trends positions this asset favorably within the competitive North Bay rental landscape.
- Exceptional NOI performance ranking 95th percentile nationally at $15,352 average per unit
- Above-average occupancy at 91.5% supporting stable cash flow generation
- Premium rent positioning with median contract rents ranking 96th percentile nationally
- Value-add potential through 1976 vintage allowing strategic capital improvements
- Risk consideration: Recent occupancy decline of 6.7 percentage points requires monitoring of market absorption trends