| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 77th | Best |
| Amenities | 33rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 134 Seal Ct, Marina, CA, 93933, US |
| Region / Metro | Marina |
| Year of Construction | 1998 |
| Units | 88 |
| Transaction Date | 2010-05-01 |
| Transaction Price | $16,000,000 |
| Buyer | Davlyn Investments |
| Seller | Oak Grove Apartments LLC |
134 Seal Ct, Marina CA Multifamily Investment
Stabilized renter demand and a high-cost ownership market support consistent leasing at this 1998-built, 88-unit asset, according to WDSuite’s CRE market data. Neighborhood fundamentals indicate competitive occupancy and a deep tenant base relative to the Salinas metro.
Marina’s inner-suburban location combines coastal lifestyle appeal with everyday convenience, translating to steady renter interest for professionally managed communities. The neighborhood holds an A- rating and ranks 19th among 95 Salinas metro neighborhoods, making it competitive among Salinas neighborhoods for investors evaluating relative strength.
Occupancy in the neighborhood is strong and has improved over the last five years, placing the area above the metro median for stability. A majority of housing units are renter-occupied (neighborhood renter concentration), which points to a broad tenant base and supports leasing durability for multifamily assets. Median contract rents in the neighborhood have risen meaningfully over the past five years, reinforcing pricing power when assets are well-maintained and appropriately positioned.
Livability indicators are mixed but investable: grocery access is better than the metro median, and park access performs in a high national percentile, while cafes, childcare, and pharmacies are thinner in the immediate area. For investors, this suggests residents rely on nearby corridors for services, but outdoor amenities and daily-needs retail still underpin retention.
Home values in the neighborhood sit in a high national percentile, indicative of a high-cost ownership market. This dynamic generally sustains renter reliance on multifamily housing and can support lease retention, while the rent-to-income profile warrants standard lease management and renewal strategies to monitor affordability pressure over time.
Within a 3-mile radius, population and household counts have grown and are projected to continue rising, while average household size trends modestly lower over time. These shifts expand the potential renter pool and support occupancy stability for well-located, professionally managed properties.
Vintage context: the property’s 1998 construction is newer than the neighborhood’s average vintage (1980). That positioning helps competitiveness versus older stock, though investors should plan for typical mid-life capital items and selective modernization to meet current renter expectations.
Safety metrics compare favorably to many peer areas, with the neighborhood ranking above the metro median among 95 Salinas neighborhoods and trending better than mid-pack nationally. Recent year-over-year declines in both property and violent offense estimates, as reported by WDSuite, point to improving conditions. As always, investors should assess property-level security measures and subarea patterns rather than relying on block-level assumptions.
The Marina area participates in a broader Central Coast–to–Silicon Valley commute shed, with access to large technology and software employers that help deepen the renter pool and support retention for workforce and professional tenants. Key nearby employers include IBM, Netflix, eBay, and Adobe Systems.
- IBM Silicon Valley Lab — software & research (34.5 miles)
- Netflix — streaming media (39.8 miles) — HQ
- Ebay — e-commerce (41.8 miles) — HQ
- Adobe Systems — software (44.0 miles)
This 88-unit, 1998-vintage property in Marina benefits from neighborhood-level occupancy that is competitive among Salinas submarkets and supported by a majority share of renter-occupied housing units. High ownership costs in the area reinforce renter reliance on multifamily, while 3-mile radius demographics indicate population and household growth that expand the tenant base and support steady lease-up and renewal performance. Based on CRE market data from WDSuite, neighborhood rent trends and NOI-per-unit positioning compare well versus many peers, favoring well-operated assets.
The 1998 construction is newer than the neighborhood average, aiding competitive positioning against older stock; investors should still plan for targeted system updates and cosmetic modernization to capture value-add upside. Amenity density is modest in the immediate area, but grocery access and strong park availability help underpin livability and retention, with additional services accessible in nearby corridors.
- Competitive neighborhood occupancy and majority renter-occupied housing support demand stability
- High-cost ownership market sustains renter reliance and pricing power for well-positioned assets
- 3-mile population and household growth expand the tenant base and support renewals
- 1998 vintage offers relative competitiveness; selective capex/modernization can unlock value-add upside
- Risks: thinner immediate amenity density and affordability pressure require active leasing and renewal management