| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 70th | Poor |
| Amenities | 37th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 445 Ignacio Blvd, Novato, CA, 94949, US |
| Region / Metro | Novato |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
445 Ignacio Blvd Novato Value-Add Multifamily
Neighborhood occupancy remains strong and renter demand is supported by high-cost homeownership in Marin County, according to WDSuite’s CRE market data.
Situated in Novato’s inner-suburban setting within the San Rafael, CA metro, the neighborhood posts a 98.1% occupancy rate at the neighborhood level (not the property), ranking 8 of 58 — competitive among San Rafael neighborhoods and in the top quartile nationally by percentile. This level of stability can support consistent leasing for a 20-unit asset when paired with disciplined operations.
Amenity access skews toward daily-needs convenience: grocery options are competitive among San Rafael neighborhoods (22 of 58; 68th percentile nationally), and restaurant density is similarly competitive (19 of 58; 75th percentile nationally). Cafe and park density are thinner locally, so residents may rely on nearby submarkets for leisure options. Childcare availability trends above the metro median (28 of 58; 80th percentile nationally), which can aid retention for family renters.
Ownership costs are elevated for the neighborhood (home values near the top of national percentiles), which tends to reinforce renter reliance on multifamily housing and can support pricing power and lease retention. At the same time, the neighborhood’s rent-to-income ratio of 0.18 indicates manageable rent burdens in context, an important consideration for renewal strategy and revenue stability.
Tenure dynamics suggest a balanced, investable renter base: approximately 41.3% of housing units are renter-occupied at the neighborhood level, providing depth without excessive turnover risk. Within a 3-mile radius, WDSuite indicates recent population growth with further renter pool expansion projected through 2028 as households increase, which supports demand for well-maintained, professionally managed units.
Comparable neighborhood-level crime benchmarks are not available in this dataset for the San Rafael metro cut, so investors should underwrite using broader city and county trend references and property-level loss histories. Where detailed rankings or percentiles are missing, a practical approach is to triangulate with regional data and on-the-ground observations to gauge tenant retention and insurance implications.
Regional employment is anchored by major corporate offices in the greater San Francisco area, offering a diversified white-collar base that supports commuter demand and lease stability for Novato properties. The list below highlights nearby employers relevant to professional and healthcare services concentrated along established commute corridors.
- Wells Fargo — banking (20.3 miles) — HQ
- Ameriprise Financial — financial services (20.3 miles)
- Salesforce.com — software (20.4 miles) — HQ
- Pfizer — pharmaceuticals (20.6 miles)
- PG&E Corp. — utilities (20.6 miles) — HQ
Built in 1973, this 20-unit asset offers classic value-add potential in a neighborhood showing strong occupancy and high-cost homeownership dynamics that tend to sustain rental demand. Based on CRE market data from WDSuite, the neighborhood’s occupancy stands high relative to the metro, while elevated home values in Marin County support a steady tenant base and measured pricing power.
Demographic statistics within a 3-mile radius show recent population growth and an increase in households, with WDSuite’s forward view indicating continued renter pool expansion alongside projected rent gains. These trends, combined with competitive daily-needs amenities, create a supportive backdrop for thoughtful renovations and asset management that prioritize retention and operational efficiency.
- Strong neighborhood occupancy and high-cost ownership market underpin demand and lease stability.
- 1973 vintage presents value-add and systems modernization opportunities to drive NOI.
- 3-mile radius shows population and household growth, supporting a larger tenant base and potential rent growth.
- Competitive access to grocery and restaurants supports livability and retention, even with thinner park/cafe density locally.
- Risks: older building capital needs and reliance on regional commuting; underwrite capex, insurance, and lease-up timelines accordingly.