| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 88th | Best |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 310 1st St, San Rafael, CA, 94901, US |
| Region / Metro | San Rafael |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
310 1st St San Rafael Multifamily Investment
Positioned in an Urban Core neighborhood with strong renter demand and high occupancy, the asset benefits from a deep tenant base and a high-cost ownership market, according to WDSuite’s CRE market data. Expect durable leasing fundamentals supported by amenity density and proximity to major employment nodes.
The immediate neighborhood ranks A within San Rafael (4 of 58 neighborhoods), signaling solid fundamentals for multifamily investors. Amenity access is a differentiator: restaurant density sits in the upper tier nationally, with grocery, cafes, and parks also testing high percentiles. One gap to note is limited pharmacy presence within the neighborhood footprint.
Occupancy in the neighborhood is strong (above the 80th national percentile), which supports revenue stability and reduces lease-up risk. Renter-occupied housing accounts for a majority share locally (among the higher concentrations in the metro), indicating a sizable tenant pool for a 20-unit asset.
Ownership costs are elevated (home values and value-to-income ratios near the top of national distributions), which tends to sustain reliance on multifamily rentals and can enhance pricing power. At the same time, neighborhood rent-to-income metrics imply manageable affordability pressure relative to national norms, a positive for retention and renewals.
Within a 3-mile radius, recent patterns show a stable population with increases in households and income levels, pointing to a larger tenant base over time and support for mid-market product. Forward-looking indicators suggest additional household growth through 2028, which typically reinforces occupancy stability and steady renter demand, based on CRE market data from WDSuite.
Vintage context: the neighborhood’s average construction year skews early-20th century, while the subject’s 1973 vintage is materially newer than much of the local stock. That positioning can be competitively favorable versus older buildings, though investors should still plan for systems modernization and targeted common-area updates as part of capital planning.
Safety indicators compare favorably to national benchmarks: violent and property offense rates align with higher national percentiles, suggesting comparatively safer conditions versus many U.S. neighborhoods. Trends are mixed, however—recent data show declines in violent incidents alongside a rise in property-related offenses. Investors should calibrate security measures and asset management practices accordingly.
At the metro level, safety outcomes vary by corridor and block, so localized diligence is recommended. Use recent trend data and on-the-ground observations to validate operating assumptions, especially for parking areas, package handling, and access control.
Proximity to San Francisco’s core employers underpins commuter demand and supports lease retention for workforce and professional renters. Notable nearby anchors include banking, technology, healthcare distribution, utilities, and financial services.
- Wells Fargo — banking (14.2 miles) — HQ
- Salesforce.com — cloud software (14.4 miles) — HQ
- McKesson — healthcare distribution (14.5 miles) — HQ
- PG&E Corp. — utilities (14.5 miles) — HQ
- Charles Schwab — brokerage & financial services (14.7 miles) — HQ
310 1st St offers durable multifamily demand drivers: an Urban Core location with high occupancy, a renter-heavy housing mix, and amenity-rich surroundings that enhance leasing velocity and renewal odds. The ownership market’s elevated home values reinforce renter reliance on multifamily housing, while neighborhood rent-to-income dynamics indicate manageable affordability pressure that can support sustained collections and steadier turnover. According to commercial real estate analysis from WDSuite, neighborhood operating metrics and amenity access compare well to national benchmarks.
Built in 1973, the property is newer than much of the local housing stock, positioning it competitively versus prewar assets. That said, investors should budget for modernization of building systems and market-ready interior upgrades to capture value relative to newer comparables. Mixed safety trends—improving violent offense rates but rising property offenses—warrant pragmatic security and asset management to protect NOI.
- Strong neighborhood occupancy and renter concentration support stable leasing
- High-cost ownership market reinforces depth of multifamily renter demand
- Amenity-rich Urban Core location aids retention and pricing power
- 1973 vintage offers competitive position versus older stock, with value-add via modernization
- Risk: mixed safety trends and limited local pharmacy access call for targeted operations