| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 52nd | Poor |
| Amenities | 57th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 325 Rowland Blvd, Novato, CA, 94947, US |
| Region / Metro | Novato |
| Year of Construction | 1973 |
| Units | 32 |
| Transaction Date | 2002-05-21 |
| Transaction Price | $1,100,000 |
| Buyer | 325 ROWLAND BLVD LLC |
| Seller | KUCERA GILBERT J |
325 Rowland Blvd Novato Multifamily Value-Add Opportunity
1973 garden-style asset in an inner-suburban pocket where neighborhood occupancy remains competitive and high-cost ownership supports renter demand, according to WDSuite’s CRE market data.
Located in Novato’s Inner Suburb near San Rafael (metro sample of 58 neighborhoods), the immediate area shows steady renter demand signals. Neighborhood occupancy sits in a competitive range (ranked 18 of 58), suggesting stable lease-up and retention relative to many San Rafael peers. The property’s 1973 vintage is older than the neighborhood’s average construction year of 1977, which points to potential value-add and capital planning opportunities to sharpen competitive positioning.
Livability is anchored by strong daily-needs access: grocery store density ranks 1 of 58 and is in the top quartile nationally, while parks and childcare access track well above national averages (both near the upper percentiles). Café and pharmacy counts are limited locally, which may modestly reduce walkable variety but does not materially detract from core convenience for residents.
Tenure and pricing dynamics support multifamily demand. The neighborhood’s renter-occupied share is high (ranked 10 of 58), indicating a deep tenant base. Elevated home values (94th percentile nationally) characterize a high-cost ownership market, which tends to reinforce reliance on rental housing and can support lease retention. Despite rents ranking high within the metro and nationally, the rent-to-income ratio tracks low versus national norms, implying less affordability pressure on renters and aiding stability.
Within a 3-mile radius, demographics show mixed but investable signals. Population has edged down over the past five years, yet incomes have risen meaningfully and the share of higher-earning households has grown, expanding the capacity to support market-rate units. Forward-looking estimates indicate households are projected to increase even as population trends remain flat to slightly down, which typically reflects smaller household sizes and can expand the renter pool. School quality in the neighborhood rates below national averages, which is a consideration for family-oriented demand but not a primary constraint for workforce-oriented leasing.
Neighborhood-level crime metrics are not available in WDSuite for this area at this time. Investors typically benchmark safety by comparing neighborhood trends with city and county reporting and by reviewing multi-year patterns rather than single-year snapshots. Given the lack of ranked data, a prudent approach includes on-the-ground diligence and consultation of official local sources to contextualize resident experience and property-level security needs.
Regional employment centers within commuting distance include finance, technology, energy, and healthcare anchors, which can support a diverse renter base and steady renewals. The list below reflects large corporate offices reachable from Novato that underpin demand for professional and workforce housing.
- Wells Fargo — banking (22.2 miles) — HQ
- Ameriprise Financial — financial services (22.2 miles)
- Salesforce.com — cloud software (22.3 miles) — HQ
- Pfizer — pharmaceuticals (22.4 miles)
- PG&E Corp. — energy utility (22.4 miles) — HQ
325 Rowland Blvd offers 32 units with an average unit size near 736 sq. ft., positioned in a neighborhood showing competitive occupancy versus the San Rafael metro. Elevated ownership costs in Marin County, combined with a high neighborhood renter-occupied share, point to durable multifamily demand and support for retention. The 1973 vintage suggests clear value-add potential through targeted renovations and systems upgrades to enhance rent positioning against newer stock.
Within a 3-mile radius, incomes have strengthened and households are projected to increase even as population growth remains muted—conditions that often expand the renter pool and support occupancy stability. Based on commercial real estate analysis from WDSuite, rents are high relative to national norms but are balanced by income capacity and competitive neighborhood occupancy, framing a thesis centered on stable demand with upside through modernization.
- Competitive neighborhood occupancy supports stable lease-up and renewals.
- High-cost ownership market reinforces reliance on rentals and tenant retention.
- 1973 vintage creates value-add and capital planning avenues to lift NOI.
- Strengthening incomes within 3 miles bolster capacity to support market-rate rents.
- Risks: modest population contraction, limited café/pharmacy mix, and older systems requiring investment.