| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 93rd | Best |
| Demographics | 62nd | Poor |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 300 Merrydale Rd, San Rafael, CA, 94903, US |
| Region / Metro | San Rafael |
| Year of Construction | 1974 |
| Units | 28 |
| Transaction Date | 1998-07-14 |
| Transaction Price | $1,199,647 |
| Buyer | KENNEDY WAYNE T |
| Seller | COLLIN GREGORY D |
300 Merrydale Rd San Rafael Multifamily Investment
This 28-unit property benefits from exceptional neighborhood occupancy rates at 100% and strong rental demand fundamentals. Commercial real estate analysis indicates the area ranks in the top tier among 58 metro neighborhoods for net operating income per unit performance.
This San Rafael neighborhood demonstrates strong multifamily fundamentals with 100% occupancy rates, ranking 1st among 58 metro neighborhoods and in the 100th national percentile. The area maintains a robust rental market with 69.1% of housing units occupied by renters, ranking 2nd metro-wide and in the 97th national percentile nationally, indicating sustained tenant demand.
Built in 1974, this property represents older vintage stock in a neighborhood where the average construction year is 1986. This vintage profile suggests potential value-add opportunities through strategic capital improvements and unit upgrades to capture higher rents in this premium Marin County market.
Demographics within a 3-mile radius show a stable tenant base with median household income of $138,186 and population holding steady around 58,662 residents. The area benefits from high home values with a median of $1.0 million, which reinforces rental demand as elevated ownership costs sustain renter reliance on multifamily housing. Contract rents average $2,500, though rent-to-income ratios warrant careful lease management considerations.
The neighborhood offers strong amenity access with 2.61 grocery stores per square mile (87th national percentile) and 2.61 parks per square mile (96th national percentile), supporting tenant retention. Childcare density ranks 1st metro-wide, appealing to family renters in this Urban Core location.
The neighborhood demonstrates favorable safety metrics with violent crime rates of 1.58 per 100,000 residents, ranking 4th among 58 metro neighborhoods and in the 95th national percentile. Property crime rates of 10.93 per 100,000 residents rank 4th metro-wide and in the 89th national percentile nationally, indicating strong relative safety performance.
Recent trends show violent crime declining by 2.7% year-over-year, while property crime increased modestly by 0.4%. Overall crime patterns remain well below regional averages, supporting tenant retention and property values in this Marin County location.
The San Francisco Bay Area employment base provides diverse corporate anchors within commuting distance, supporting workforce housing demand for this San Rafael property.
- Wells Fargo — financial services (16.0 miles) — HQ
- Ameriprise Financial — financial services (16.0 miles)
- Salesforce.com — technology (16.1 miles) — HQ
- McKesson — healthcare services (16.2 miles) — HQ
- PG&E Corp. — utilities (16.3 miles) — HQ
This 28-unit San Rafael property presents compelling fundamentals anchored by exceptional neighborhood occupancy at 100% and strong rental demand metrics. According to CRE market data from WDSuite, the area achieves top-tier net operating income performance ranking 1st among 58 metro neighborhoods. The 1974 construction year offers value-add potential through strategic renovations in a market where elevated home values sustain rental demand.
Demographics within a 3-mile radius show household income growth of 30.5% over five years, supporting rent growth potential, while projected household formation of 28.8% through 2028 indicates expanding renter pools. The neighborhood's Urban Core classification and 69.1% rental tenure provide stable demand fundamentals in this premium Marin County location.
- Exceptional occupancy performance at 100% neighborhood-wide, ranking 1st among 58 metro areas
- Strong rental demand with 69.1% renter-occupied units, 97th national percentile
- Value-add opportunity through 1974 vintage property improvements in premium market
- Projected 28.8% household growth through 2028 supporting tenant demand expansion
- Risk consideration: High rent-to-income ratios require careful lease management and renewal strategies