| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 50th | Good |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3040 Sunset Ave, Marina, CA, 93933, US |
| Region / Metro | Marina |
| Year of Construction | 1980 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3040 Sunset Ave Marina CA Multifamily Investment
Neighborhood-level occupancy is fully stabilized and renter demand is supported by a deep tenant base and elevated ownership costs, according to WDSuite’s CRE market data.
Rated A- and ranked 23 out of 95 Salinas metro neighborhoods, this area sits in the top quartile locally, signaling competitive fundamentals for multifamily. Neighborhood occupancy is reported at 100% (neighborhood metric, not property-specific), which points to strong leasing velocity and renewal propensity in the immediate area based on CRE market data from WDSuite.
Within a 3-mile radius, demographics indicate a growing renter pool: population and household counts have increased over the past five years, with additional gains projected over the next five. A renter-occupied share of roughly two-thirds of housing units within this radius suggests meaningful depth for multifamily demand, supporting occupancy stability and ongoing leasing activity.
Local amenity access is mixed. Grocery coverage ranks near the top of the metro and compares strongly nationwide, aiding daily convenience for residents. However, the immediate neighborhood reports limited parks, pharmacies, and cafes, which may shift some lifestyle spending to nearby districts. Average school ratings in the area trend below national norms; investors targeting family renters may account for this in marketing and retention strategies.
Home values in the neighborhood are elevated relative to national benchmarks, and rent levels are competitive for the region. In practice, a high-cost ownership market often sustains reliance on rental housing and can support lease retention, while a moderate rent-to-income profile at the neighborhood level can help manage affordability pressure and reduce turnover risk.
Safety indicators are mixed but generally around national mid-range. Compared with 95 neighborhoods in the Salinas metro, this area trends near the metro middle-to-lower tier for safety, while nationally it sits close to the midpoint for property offenses and somewhat below the midpoint for violent incidents. For investors, the key takeaway is that recent data shows property offenses declining year over year, suggesting incremental improvement. As always, safety conditions can vary by block; underwriting should consider on-the-ground checks and recent trendlines.
Regional employment nodes within commuting range include technology and e‑commerce employers that broaden the professional renter base and support leasing stability. Listed below are representative anchors by proximity.
- IBM Silicon Valley Lab — enterprise software R&D (35.7 miles)
- Netflix — streaming media (40.9 miles) — HQ
- eBay — e‑commerce (43.0 miles) — HQ
This Marina submarket shows durable renter demand and occupancy stability at the neighborhood level, supported by a high renter concentration within 3 miles and elevated ownership costs that reinforce reliance on multifamily housing. According to CRE market data from WDSuite, the neighborhood ranks in the top quartile locally with full neighborhood-level occupancy, signaling resilient leasing conditions compared with many Salinas peers.
Forward-looking demographic trends within 3 miles point to continued growth in households and income, expanding the tenant base and supporting pricing power, while a moderate rent-to-income profile can aid retention management. Investors should weigh the amenity mix—strong grocery access but fewer nearby parks/cafes—and below-average school ratings when planning positioning and resident experience.
- Top-quartile neighborhood fundamentals in the Salinas metro support leasing stability
- High renter concentration within 3 miles indicates depth of tenant demand
- Elevated ownership costs bolster reliance on rentals and lease retention
- Household and income growth nearby support long-term multifamily demand
- Risks: fewer nearby parks/cafes and below-average school ratings may require targeted positioning