| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 70th | Poor |
| Amenities | 37th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 475 Ignacio Blvd, Novato, CA, 94949, US |
| Region / Metro | Novato |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
475 Ignacio Blvd Novato Multifamily Investment
Neighborhood occupancy trends are strong and ownership costs are elevated, signaling durable renter demand in this Marin County inner suburb, according to WDSuite’s CRE market data.
Located in an inner-suburban pocket of Novato within the San Rafael metro, the neighborhood posts a C+ rating and sits mid-pack locally. The area’s housing stock skews slightly older than the metro average, while the property’s 1973 vintage suggests potential for targeted renovations to stay competitive against 1980s-era product common nearby.
Operationally, the neighborhood’s occupancy is reported at 98.1% (8 of 58 by metro rank), placing it in the top quartile among San Rafael neighborhoods and in a high national percentile. For investors, that points to stable lease-up and lower downtime risk. Renter-occupied share is 41.3% (rank 16 of 58), indicating a meaningful tenant base that supports multifamily demand without overreliance on any single cohort.
Daily needs are reasonably served: restaurants and groceries are competitive among San Rafael neighborhoods (ranks 19 and 22 of 58), and childcare access trends above the metro median (rank 28). Cafés, parks, and pharmacies are thinner in the immediate blocks, so residents may rely on short drives for certain errands—typical for inner suburbs in Marin.
Within a 3-mile radius, population has grown in recent years and is projected to continue expanding, with households also expected to increase. High household incomes and a low rent-to-income ratio of roughly 0.18 in the neighborhood support payment capacity and lease retention. Elevated home values (near the top of national comparisons) reinforce reliance on rental housing, which can sustain demand for well-managed units.
Neighborhood-level crime benchmarks for this area are not available in the current dataset. Investors typically compare local trends with city and county reporting and engage property management for on-the-ground context to gauge resident experience and operating implications.
Regional employment depth is anchored by large finance, technology, energy-utility, healthcare distribution, and pharmaceutical employers within roughly 20–21 miles, supporting commuter convenience and a broad renter base.
- Wells Fargo — banking (20.4 miles) — HQ
- Salesforce.com — software (20.5 miles) — HQ
- Pfizer — pharmaceuticals (20.6 miles)
- PG&E Corp. — energy utility (20.6 miles) — HQ
- McKesson — healthcare distribution (20.7 miles) — HQ
This 20-unit, 1973-vintage asset offers value-add potential in a Marin County inner suburb where elevated ownership costs and high incomes underpin steady renter demand. Neighborhood occupancy ranks 8 of 58 locally, pointing to attractive stability, while renter concentration provides a meaningful tenant base without signaling oversaturation. According to CRE market data from WDSuite, home values rank near the top nationally, a backdrop that can support pricing power for well-maintained units.
Demographic indicators within a 3-mile radius show recent population growth with further gains forecast, alongside rising household counts—factors that typically expand the renter pool and support occupancy resilience. The older construction relative to nearby 1980s stock suggests clear opportunities for targeted CapEx and interior refresh to improve competitive positioning and NOI.
- Occupancy strength: top-quartile local rank supports lease-up stability
- High-cost ownership market reinforces multifamily demand and retention
- 1973 vintage allows targeted renovations and value-add execution
- 3-mile population and household growth expand the tenant base
- Risks: older systems and thinner immediate amenities may require CapEx and management focus