| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 22nd | Poor |
| Amenities | 87th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 240 Canal St, San Rafael, CA, 94901, US |
| Region / Metro | San Rafael |
| Year of Construction | 1972 |
| Units | 74 |
| Transaction Date | 2012-10-10 |
| Transaction Price | $7,250,000 |
| Buyer | OPPORTUNITY PARTNERS LLC |
| Seller | SOSNOWSKI & ASSOCIATES INC |
240 Canal St, San Rafael Multifamily Investment
Neighborhood occupancy is among the strongest in the metro, supporting leasing stability and retention, according to WDSuite’s CRE market data. This Marin County location combines renter depth with amenity access, positioning a 74-unit asset for steady performance.
Located in San Rafael’s Urban Core, the neighborhood posts an occupancy rate near the top of the metro (ranked 5 out of 58 neighborhoods and in the 94th percentile nationally), indicating durable demand and limited downtime risk based on CRE market data from WDSuite. Renter-occupied concentration is high at the neighborhood level (83.3% of housing units), which supports a deep tenant base for multifamily.
Daily needs are well covered: grocery, restaurant, and pharmacy density rank competitively among the 58 metro neighborhoods (for example, groceries rank 3rd and restaurants 6th), and amenities sit in the top quartile nationally. This breadth of services can enhance leasing velocity and resident retention without relying on long commutes.
Home values in the neighborhood sit at elevated levels relative to incomes (value-to-income ranks 17th of 58 and in the 98th percentile nationally), creating a high-cost ownership market that tends to sustain reliance on rentals. Neighborhood median contract rents are also on the higher side in the metro and top decile nationally, reinforcing the need for attentive lease management and product differentiation.
Within a 3-mile radius, demographics indicate a stable to modestly shifting tenant base: households have edged up even as population softened recently, reflecting smaller household sizes. Forecasts point to incremental population growth and an increase in households over the next five years, which should modestly expand the renter pool and support occupancy.
Safety signals are mixed but broadly constructive in comparative terms. The neighborhood’s overall crime standing is above the national midpoint (around the 60th percentile nationwide) and sits mid-pack within the metro. Violent-offense estimates compare favorably — around the 70th percentile nationally — which can support resident comfort and leasing stability.
Property-offense levels benchmark well versus national peers (roughly the 84th percentile, safer relative to many neighborhoods). However, recent year-over-year estimates indicate a notable uptick in property offenses; investors should monitor trend direction and engage in standard risk mitigation (lighting, access control, package management) in coordination with professional management.
Proximity to major San Francisco–area employers supports commute convenience and broad white-collar renter demand. Key nearby employment nodes include financial services, technology, energy/utilities, and healthcare.
- Wells Fargo — banking & financial services (13.21 miles) — HQ
- Ameriprise Financial — financial services (13.23 miles)
- Salesforce.com — cloud software (13.36 miles) — HQ
- Pfizer — pharmaceuticals (13.46 miles)
- PG&E Corp. — energy & utilities (13.48 miles) — HQ
240 Canal St offers 74 units in Marin County with neighborhood fundamentals that favor sustained occupancy and a deep renter base. Occupancy ranks 5th among 58 metro neighborhoods and in the top decile nationally, while renter-occupied concentration is elevated, pointing to strong multifamily demand and potential leasing resilience through cycles. According to CRE market data from WDSuite, amenity access ranks competitively within the metro and nationally, supporting retention and renter appeal.
The ownership market is high-cost relative to incomes, which typically reinforces reliance on rentals and supports pricing power for well-managed assets. That said, higher rent levels and a relatively elevated rent-to-income profile introduce affordability pressure that warrants vigilant lease management. Recent property-offense trends should be monitored, though comparative benchmarks remain favorable versus many U.S. neighborhoods.
- Metro-top-tier occupancy and high renter concentration support demand stability
- Strong amenity access (groceries, restaurants, pharmacies) aids retention
- High-cost ownership market sustains renter reliance and potential pricing power
- Manage to affordability: higher rents and rent-to-income require careful renewals
- Monitor security: recent property-offense uptick despite favorable national benchmarks