| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 93rd | Best |
| Demographics | 62nd | Poor |
| Amenities | 62nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 42 Los Ranchitos Rd, San Rafael, CA, 94903, US |
| Region / Metro | San Rafael |
| Year of Construction | 1974 |
| Units | 37 |
| Transaction Date | 1994-01-24 |
| Transaction Price | $2,300,000 |
| Buyer | STATE STREET BANK & TRUST COMPANY |
| Seller | STANDARD TRUST DEED SERVICE COMPANY |
42 Los Ranchitos Rd, San Rafael CA — Multifamily Investment Outlook
Neighborhood-level occupancy is fully stabilized and renter concentration is high, pointing to durable tenant demand, according to WDSuite s CRE market data. These are neighborhood indicators rather than property-specific performance, but they suggest steady leasing dynamics for this submarket.
The property sits in San Rafael s Urban Core, where neighborhood metrics indicate strong renter demand and full occupancy conditions among nearby multifamily stock. The share of housing units that are renter-occupied is elevated (69.1% at the neighborhood level), signaling a deep tenant base that can support leasing and renewal velocity. Median contract rents in the neighborhood benchmark high versus U.S. peers, underscoring pricing power but requiring attentive lease management to balance affordability pressure.
Amenity access is mixed: grocery and parks density are competitive among San Rafael neighborhoods (both ranked within the top 11 of 58) and sit in the upper national percentiles, while walk-to cafes and pharmacies are limited within the neighborhood footprint. Childcare access is a standout, ranking 1st of 58 locally and at the top of national comparisons, which can help retention for family renters.
Within a 3-mile radius, demographic data show high household incomes today and projections for population growth alongside a notable increase in households by 2028. This points to a larger tenant base over time and supports occupancy stability, even as some segments may face rent-to-income pressure. Elevated home values in the neighborhood (high relative to national benchmarks) indicate a high-cost ownership market, which tends to reinforce reliance on multifamily rentals and can aid lease retention.
Vintage positioning matters: built in 1974, the asset is older than the neighborhood s average construction year. That profile typically calls for targeted capital planning and offers potential value-add upside through unit modernization and system upgrades, particularly given the neighborhood s historically strong NOI per unit performance and full occupancy environment reported at the neighborhood level.
Safety indicators are mixed when viewed locally versus nationally. The neighborhood s overall crime rank suggests higher reported incidents relative to parts of the San Rafael metro (rank 7 out of 58 indicates elevated crime within the metro comparison), yet national percentiles point to comparatively favorable conditions: violent offense measures are in the top quartile nationally (around the 95th percentile), and property offense indicators also sit well above national medians. Recent data also show a modest year-over-year decline in violent offenses at the neighborhood level. These are neighborhood-wide readings, not property-specific.
Proximity to major finance, technology, and healthcare employers expands the commuter tenant pool and can support retention through stable, high-wage employment. Notable nearby employers include Wells Fargo, Ameriprise Financial, Salesforce, Pfizer, and McKesson.
- Wells Fargo financial services (15.4 miles) HQ
- Ameriprise Financial financial services (15.5 miles)
- Salesforce.com software & cloud (15.6 miles) HQ
- Pfizer pharmaceuticals (15.7 miles)
- McKesson healthcare & distribution (15.7 miles) HQ
This 37-unit, 1974-vintage asset benefits from a neighborhood backdrop of full occupancy, a high share of renter-occupied housing units, and strong national standing for income and amenity access. Elevated neighborhood home values indicate a high-cost ownership market, which can bolster multifamily demand and support lease retention. According to CRE market data from WDSuite, neighborhood rent levels benchmark high nationally, reinforcing the case for disciplined pricing strategy and professional lease management.
The asset s older vintage highlights value-add potential via unit upgrades and building systems modernization, while the 3-mile demographic outlook points to population and household expansion, implying a broader renter pool over the medium term. Investors should underwrite for operating resilience and affordability pressure in a high-rent context, while leveraging proximity to major Bay Area employers to support demand.
- Neighborhood-level occupancy is fully stabilized, supporting leasing durability
- High renter-occupied share indicates depth of tenant demand
- High-cost ownership market favors multifamily retention and pricing power
- 1974 vintage presents value-add potential through renovations and system upgrades
- Risks: affordability pressure at higher rent levels and localized safety rank relative to metro