| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 62nd | Poor |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 33 San Pablo Ave, San Rafael, CA, 94903, US |
| Region / Metro | San Rafael |
| Year of Construction | 2012 |
| Units | 82 |
| Transaction Date | 2012-06-15 |
| Transaction Price | $36,400,000 |
| Buyer | The Praedium Group LLC |
| Seller | Sequoia Heights Cap Ptrs Llc |
33 San Pablo Ave San Rafael Multifamily Investment
Neighborhood occupancy is strong and ownership costs are elevated, supporting renter demand and pricing resilience according to WDSuite's CRE market data. Position within Marin County provides durable fundamentals and potential for stable operations.
Situated in a suburban pocket of San Rafael (Neighborhood rating: B; 25 of 58 in the metro), this area is competitive among San Rafael neighborhoods and demonstrates durable rental performance. Neighborhood occupancy is high relative to the metro (ranked 4 of 58; top quartile nationally), indicating steady demand at the neighborhood level rather than the property specifically.
The property’s 2012 construction is newer than the neighborhood’s average vintage (1989). That tilt toward newer stock can aid leasing versus older comparables, though investors should plan for mid-life system upkeep and targeted modernization to sustain competitiveness over the hold.
Amenity access supports daily convenience: park availability is strong (upper-national percentile), groceries are above average, and cafes are comparatively available for a suburban location. Pharmacy access is limited nearby. School ratings in the neighborhood track below national norms, which may temper some family-driven demand and should be considered in marketing and tenant mix strategies.
Tenure patterns suggest a solid renter base: at the neighborhood level, renter-occupied housing units account for roughly around one-third of stock, supporting steady but not saturated demand; within a 3-mile radius, renter-occupied share is closer to the mid-40s, expanding the audience for an 82-unit asset. Elevated home values (near the top nationally) reinforce reliance on rental housing and can support retention, while a rent-to-income profile around the metro median points to manageable affordability pressure from an investor’s lease management perspective. Demographic data within a 3-mile radius shows recent softness but a forward view of modest population growth and more households over time, supporting occupancy stability and a larger tenant base.
Safety indicators are below the metro average (ranked 49 of 58) and track weaker than national midpoints. That said, property offense rates have improved meaningfully year over year, placing the area among stronger national improvers, while violent offense measures remain comparatively weak. Underwriting should assume prudent security practices and operational oversight.
Commutable access to major corporate offices underpins renter demand and lease retention, particularly among finance, technology, energy, and healthcare professionals. Nearby anchors include Wells Fargo, Salesforce, McKesson, PG&E, and Charles Schwab.
- Wells Fargo — corporate offices (15.5 miles) — HQ
- Salesforce.com — technology (15.6 miles) — HQ
- McKesson — healthcare distribution (15.8 miles) — HQ
- PG&E Corp. — energy utility offices (15.8 miles) — HQ
- Charles Schwab — financial services (15.9 miles) — HQ
33 San Pablo Ave is an 82-unit, 2012-vintage asset positioned in a high-cost ownership market in Marin County. Neighborhood occupancy is strong versus the metro and sits in the top quartile nationally, supporting an investment case anchored in stable demand and disciplined rent growth rather than lease-up upside. According to commercial real estate analysis from WDSuite, neighborhood rents are near the top nationally while rent-to-income metrics trend around the metro median, a mix that supports pricing power with measured retention risk.
The asset’s newer construction relative to local stock can sustain competitiveness, though mid-life capital planning (systems, common areas, and selective unit updates) should be assumed. Within a 3-mile radius, high household incomes and a projected increase in households point to a larger tenant base over time, reinforcing occupancy stability despite mixed signals on schools and safety that warrant conservative underwriting and proactive operations.
- High neighborhood occupancy (top quartile nationally) supports stable cash flow
- 2012 vintage offers competitive positioning with manageable mid-life capex
- Elevated home values reinforce rental reliance and pricing power
- 3-mile radius shows high incomes and growing household counts, expanding the renter pool
- Risks: below-average safety and school ratings; limited pharmacy access—plan for prudent operations and targeted marketing