| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 73rd | Poor |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 285 Woodland Ave, San Rafael, CA, 94901, US |
| Region / Metro | San Rafael |
| Year of Construction | 1989 |
| Units | 20 |
| Transaction Date | 2019-08-12 |
| Transaction Price | $7,100,000 |
| Buyer | PROFESSIONAL INVESTORS 46 LLC |
| Seller | SCHELLER PAUL S |
285 Woodland Ave San Rafael Multifamily Investment
Neighborhood occupancy is strong and supports stable cash flow potential, according to WDSuite s CRE market data. With elevated area home values and steady renter demand, the asset positioned in Marin County benefits from durable fundamentals without relying on aggressive assumptions.
Located in an Inner Suburb pocket of San Rafael (Neighborhood Rating: B), the property sits in a submarket where neighborhood occupancy trends rank among the top tier nationally and above the metro median, based on CRE market data from WDSuite. Elevated ownership costs in the area (home values in the upper national percentiles) tend to sustain reliance on multifamily rentals, which supports pricing power and lease retention for well-run assets.
Daily-needs access is a strength: cafes, groceries, and restaurants index well above national norms (each in the 80s by percentile), indicating convenience that typically helps leasing and renewal rates. By contrast, the neighborhood trails on park and pharmacy density, which investors should weigh when assessing amenity strategy and resident experience.
The renter concentration is roughly half of housing units renter-occupied at the neighborhood level, indicating depth in the tenant base and demand stability. Median contract rents rank in the upper national percentiles while rent-to-income levels track on the lower side nationally, a combination that can support collections and retention when managed proactively.
Within a 3-mile radius, demographics point to a large, high-income catchment with modest recent population change and a projected increase in both population and households by 2028. This outlook suggests a larger tenant base and supports occupancy stability, even as household sizes shift slightly. Average school ratings are around 3 out of 5, which is serviceable for workforce and family renter segments.
Vintage context matters: the property s 1989 construction is newer than the neighborhood s older housing stock (average vintage early 1950s), offering relative competitiveness versus legacy assets while still benefiting from targeted modernization and system updates as part of a value-add plan.
Safety compares around the metro average, with neighborhood standing competitive among San Rafael areas. Nationally, violent and property offense rates benchmark above the median for safety (higher percentiles indicate safer conditions), which supports leasing confidence and resident retention.
Recent trends show modest increases year over year particularly in property offenses so prudent security measures and lighting/camera upgrades may be warranted in capex planning. As always, investors should evaluate multi-year trends across the broader submarket rather than block-level interpretations.
Proximity to major corporate employment centers supports renter demand and commute convenience, with concentration in finance and healthcare. The following employers anchor the broader labor base mentioned here.
- Wells Fargo banking (13.7 miles) HQ
- Ameriprise Financial financial services (13.8 miles)
- Salesforce.com enterprise software (13.9 miles) HQ
- McKesson healthcare distribution (14.0 miles) HQ
- Pfizer pharmaceuticals (14.0 miles)
This 20-unit asset, built in 1989 with average unit sizes near 858 square feet, aligns with durable Marin County fundamentals: high neighborhood occupancy, strong incomes, and elevated ownership costs that reinforce renter reliance on multifamily housing. According to CRE market data from WDSuite, the neighborhood performs above the metro median on occupancy, with rents positioned in the upper national percentiles and rent-to-income levels that support collections and renewal strategies.
The vintage is newer than much of the local housing stock, offering competitive positioning versus older alternatives while leaving room for targeted upgrades that can enhance tenant experience and drive NOI. Within a 3-mile radius, households and population are projected to grow through 2028, which supports a larger tenant base and helps sustain occupancy and leasing velocity over the hold period. Key risks include limited nearby parks/pharmacies and recent upticks in property offenses, both of which can be mitigated through amenity planning and security investments.
- High neighborhood occupancy and strong incomes underpin demand and retention
- Elevated home values reinforce reliance on rentals, supporting pricing power
- 1989 vintage is competitive versus older stock, with value-add upgrade potential
- 3-mile household and population growth outlook supports a larger renter pool
- Risks: sparse parks/pharmacies and recent property offense upticks warrant amenity and security planning