| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Good |
| Demographics | 76th | Fair |
| Amenities | 84th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 840 C St, San Rafael, CA, 94901, US |
| Region / Metro | San Rafael |
| Year of Construction | 1999 |
| Units | 31 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
840 C St San Rafael Multifamily Investment
This 31-unit property built in 1999 is positioned in a neighborhood ranking in the top 20% among 58 San Rafael metro neighborhoods. The area demonstrates strong rental market fundamentals with 48% renter-occupied housing and median rents of $2,320, according to CRE market data from WDSuite.
The property sits in a suburban San Rafael neighborhood that ranks 10th among 58 metro neighborhoods, earning an A- overall rating. Built in 1999, this asset aligns with newer construction trends in an area where the average building dates to 1949, potentially reducing near-term capital expenditure requirements compared to older neighborhood stock.
Rental demand fundamentals remain solid with 47.7% of housing units renter-occupied, ranking in the 87th percentile nationally. Neighborhood-level occupancy stands at 90% with median contract rents of $2,320, representing 16.5% growth over five years. The rent-to-income ratio of 0.23 suggests manageable affordability for area renters, though investors should monitor renewal rates given the competitive rental landscape.
Demographics within a 3-mile radius show a stable tenant base with 74,500 residents and median household income of $140,000. Population projections indicate 3.4% growth through 2028, with household formation expected to increase by 32.8%, expanding the potential renter pool. High median home values of $1.56 million reinforce rental demand as elevated ownership costs sustain renter reliance on multifamily housing.
The neighborhood offers strong amenity density that supports tenant retention, ranking in the 92nd percentile nationally for grocery stores and 95th percentile for restaurants. Childcare and pharmacy access also rank favorably, though average school ratings of 2.3 out of 5 may limit appeal to families with school-age children.
The neighborhood demonstrates competitive safety metrics compared to regional benchmarks. Property crime rates rank 35th among 58 San Rafael metro neighborhoods at the 66th percentile nationally, while violent crime ranks 29th at the 59th percentile nationwide. Both property and violent crime showed meaningful year-over-year declines of 25.4% and 36.1% respectively, suggesting improving conditions.
These safety trends support tenant retention and leasing velocity, with crime metrics performing above metro median levels. Investors should continue monitoring local safety initiatives and community policing efforts that may influence long-term neighborhood desirability and rental demand stability.
The San Francisco Bay Area employment base provides diverse workforce housing demand, with major corporate offices within commuting distance supporting rental stability.
- Wells Fargo — financial services (14.2 miles) — HQ
- Ameriprise Financial — financial services (14.2 miles)
- Salesforce.com — technology (14.3 miles) — HQ
- McKesson — healthcare services (14.4 miles) — HQ
- PG&E Corp. — utilities (14.5 miles) — HQ
This 31-unit San Rafael asset offers exposure to a high-performing suburban market with strong rental fundamentals and demographic tailwinds. The 1999 construction year positions the property favorably within a neighborhood where average building vintage dates to 1949, potentially reducing immediate capital requirements while maintaining competitive positioning. Neighborhood-level occupancy of 90% and median rents of $2,320 demonstrate market acceptance, while household income growth of 35.3% over five years supports rental pricing power.
Population growth projections of 3.4% through 2028 and household formation increases of 32.8% indicate expanding rental demand, according to multifamily property research from WDSuite. High median home values of $1.56 million reinforce renter reliance on multifamily options, creating a stable tenant base. However, investors should monitor the rent-to-income ratio and competitive supply given strong regional development activity.
- Neighborhood ranks 10th among 58 San Rafael metro areas with A- rating
- 1999 construction reduces near-term capital expenditure needs
- 32.8% projected household formation growth through 2028
- High home values ($1.56M median) sustain rental demand
- Risk: Monitor competitive supply and affordability pressures in premium market