| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 70th | Poor |
| Amenities | 37th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 450 Entrada Dr, Novato, CA, 94949, US |
| Region / Metro | Novato |
| Year of Construction | 1980 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
450 Entrada Dr, Novato Multifamily Opportunity
Neighborhood occupancy is strong relative to the San Rafael metro, supporting durable rent rolls for a 24‑unit asset, according to WDSuite’s CRE market data. These dynamics, combined with a high-cost ownership market in Marin County, point to steady renter demand at the neighborhood level rather than the property itself.
Situated in an inner-suburban pocket of Novato, the neighborhood shows tight apartment fundamentals with occupancy ranking 8th out of 58 metro neighborhoods — a top‑quartile position nationally. This signals a stable leasing backdrop and fewer prolonged vacancies for well‑positioned units.
The renter-occupied share is 41.3% of housing units in the neighborhood, indicating a meaningful renter base that supports multifamily absorption and retention. Within a 3‑mile radius, household incomes skew high and median contract rents sit in the upper tier for the region, suggesting pricing power can be maintained with prudent lease management and product quality.
Local amenity access is mixed. Grocery access ranks competitively within the metro, while cafes, parks, and pharmacies are thinner in immediate proximity. For investors, this places emphasis on on‑site conveniences and operational execution to sustain leasing momentum versus relying on walkable retail depth.
Three‑mile demographics point to population growth and an increase in households through 2028, expanding the potential renter pool and supporting occupancy stability. Elevated home values in Marin create a high‑cost ownership market, which tends to reinforce reliance on multifamily rentals and can aid lease retention for well‑maintained properties.
Comparable, neighborhood‑level safety statistics are not available in this dataset. Investors typically benchmark Novato and Marin County submarkets against broader regional trends and property‑level history during diligence, focusing on management practices, lighting, access control, and resident experience rather than block‑level figures.
Proximity to the Bay Area’s core employment centers underpins renter demand, with access to major financial services and technology headquarters that broaden the commuter base and support leasing stability. The list below highlights nearby anchors most relevant to workforce draw for this submarket.
- Wells Fargo — banking (20.5 miles) — HQ
- Salesforce.com — enterprise software (20.6 miles) — HQ
- McKesson — healthcare distribution (20.8 miles) — HQ
- PG&E Corp. — utilities (20.8 miles) — HQ
- Charles Schwab — brokerage & financial services (20.9 miles) — HQ
The property’s neighborhood sits in the top tier for occupancy within the San Rafael metro, indicating a supportive leasing environment and reduced downtime between turns. Elevated home values across Marin create a high‑cost ownership market, which can sustain rental demand and aid tenant retention when paired with professional operations, based on CRE market data from WDSuite.
Built in 1980, the asset likely benefits from durable construction but may warrant targeted modernization and capital planning to remain competitive against newer product. Three‑mile demographic trends point to population growth and a larger household base by 2028, expanding the renter pool and supporting long‑term cash‑flow durability.
- Tight neighborhood occupancy supports leasing stability versus metro peers
- High-cost ownership market in Marin reinforces multifamily renter reliance
- 1980 vintage offers value‑add potential via selective renovations and systems upgrades
- 3‑mile population and household expansion suggests a growing tenant base
- Risk: Thinner nearby retail/park amenities heighten the importance of on‑site features and management