| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 59th | Poor |
| Amenities | 54th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10 North Ave, San Rafael, CA, 94903, US |
| Region / Metro | San Rafael |
| Year of Construction | 1988 |
| Units | 98 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
10 North Ave San Rafael Multifamily Investment
This 98-unit property benefits from neighborhood occupancy rates reaching 97.7%, significantly above metro averages according to CRE market data from WDSuite.
Located in San Rafael's Inner Suburb neighborhood, this area ranks in the top quartile nationally for housing metrics among 58 metro neighborhoods. The neighborhood demonstrates strong fundamentals with 59% of housing units occupied by renters, creating a substantial rental demand base for multifamily investors.
Demographic data aggregated within a 3-mile radius shows a median household income of $132,409, with 27.4% of households earning above $200,000 annually. Population growth of 7.9% over the past five years has expanded the potential renter pool, while forecasted growth of 3.3% through 2028 suggests continued demand stability. The area's median contract rent of $2,539 reflects pricing power, though rent-to-income ratios warrant monitoring for lease retention considerations.
The property's 1988 construction year aligns closely with the neighborhood average of 1987, positioning it within established building stock. This vintage presents potential value-add opportunities through strategic renovations while maintaining competitive positioning. Local amenities include moderate restaurant and cafe density, with parks and childcare facilities supporting tenant appeal and retention potential.
Safety metrics position this neighborhood competitively within the San Rafael metro area. Property offense rates rank in the upper half among 58 metro neighborhoods at the 68th percentile nationally, while violent crime rates maintain similar standing at the 55th percentile nationwide. Both categories show improving trends, with property offenses declining 13.8% and violent offenses down 25.1% year-over-year.
These crime trends compare favorably to many urban multifamily markets and support the area's appeal for quality tenants seeking stable residential environments. The improving safety profile may contribute to tenant retention and competitive positioning within the broader San Rafael rental market.
The San Francisco Bay Area employment corridor provides diverse corporate anchor tenants within commuting distance, supporting workforce housing demand for this Inner Suburb location.
- Wells Fargo — financial services (17.2 miles) — HQ
- Ameriprise Financial — financial services (17.2 miles)
- Salesforce.com — technology (17.3 miles) — HQ
- PG&E Corp. — utilities (17.4 miles) — HQ
- McKesson — healthcare distribution (17.5 miles) — HQ
This 98-unit property capitalizes on strong neighborhood fundamentals in San Rafael's rental market. The area's 97.7% occupancy rate significantly exceeds metro averages, indicating robust demand absorption and tenant retention potential. With 59% of local housing units renter-occupied and continued population growth expanding the renter pool, the location supports stable leasing velocity.
The 1988 construction vintage presents strategic value-add opportunities through unit renovations and common area improvements. According to multifamily property research from WDSuite, the neighborhood's housing metrics rank in the top quartile nationally, while demographic trends show household formation and income growth supporting rental demand through 2028.
- Neighborhood occupancy rates of 97.7% demonstrate strong rental demand absorption
- 1988 vintage offers value-add renovation upside within established building stock
- Population growth of 7.9% over five years with continued expansion forecasted through 2028
- Access to major Bay Area employment centers within 17-20 mile commute radius
- Monitor rent-to-income ratios for lease renewal strategies in higher-cost Marin market