| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 49th | Good |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 420 Reservation Rd, Marina, CA, 93933, US |
| Region / Metro | Marina |
| Year of Construction | 1973 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
420 Reservation Rd Marina, CA Multifamily Opportunity
Positioned in Marina’s Urban Core, the asset benefits from a deep renter base and stable neighborhood occupancy, according to WDSuite’s CRE market data.
The property sits in a neighborhood rated A- and ranked 20 of 95 within the Salinas metro—placing it in the top quartile locally. For investors, that translates to established fundamentals and steady renter demand rather than an emerging story still proving out.
Daily-needs retail is a strength: grocery and pharmacy density ranks near the top of the metro and score in high national percentiles, while parks and restaurants are similarly well represented. Cafés and formal childcare centers are less dense, which may modestly limit lifestyle convenience but does not detract from core housing demand.
Neighborhood occupancy is around the metro median, with a high share of renter-occupied housing units. That renter concentration indicates a broad tenant base and supports leasing durability for a 38‑unit property. Elevated home values relative to national benchmarks suggest a high-cost ownership market, which typically sustains reliance on multifamily rentals and can aid retention.
Within a 3‑mile radius, population and household counts have increased and are projected to continue growing over the next five years, pointing to a larger tenant base ahead. Median and mean household incomes have risen, and projected gains, alongside forecast rent growth, imply manageable affordability pressures and support for stable pricing, based on commercial real estate analysis from WDSuite.
Vintage matters: built in 1973 versus a neighborhood average closer to the late 1970s, the asset is slightly older than nearby stock. Investors should underwrite ongoing capital planning and selective renovations to remain competitive, with potential value‑add upside in unit and systems modernization.
Safety indicators are competitive on a national basis, with the neighborhood landing above the U.S. midpoint overall. Recent trends show property offenses declining notably year over year and violent offense rates easing as well, according to WDSuite’s CRE market data. While conditions vary by block and subarea, the directional trend supports a stable operating backdrop for multifamily.
Compared with other neighborhoods in the Salinas, CA metro (95 total), the area sits around the middle of the pack, but the recent improvement trajectory is a constructive signal for tenant retention and leasing.
Regional employment access spans major tech and corporate nodes within commute range, supporting renter demand from professionals with flexibility to live along the Monterey Bay corridor. The following employers anchor that base:
- IBM Silicon Valley Lab — technology R&D (35.6 miles)
- Netflix — streaming & media (41.2 miles) — HQ
- eBay — e-commerce (43.2 miles) — HQ
This 38‑unit, 1973-vintage property benefits from an A‑ neighborhood profile, strong daily-needs retail access, and a high share of renter-occupied housing nearby. Neighborhood occupancy sits near the metro median, and elevated ownership costs in Monterey County reinforce reliance on rentals—favorable for lease retention and steady absorption. According to CRE market data from WDSuite, recent safety trends have improved, and national percentile standings for amenities further support renter appeal.
The asset’s slightly older vintage points to clear value‑add pathways—interior upgrades and building systems modernization—to sharpen competitiveness versus late‑1970s peers. Within a 3‑mile radius, population and households are projected to grow, expanding the tenant base and supporting long‑term occupancy stability and pricing power, while rent-to-income readings suggest room for disciplined revenue management.
- A‑ neighborhood, top quartile among 95 metro areas, with strong daily-needs amenities
- High renter-occupied share signals depth of demand for multifamily
- 1973 vintage offers value‑add potential through unit and systems upgrades
- 3‑mile demographics show growth in population and households supporting occupancy
- Risks: aging asset capex needs and only median neighborhood occupancy; lifestyle amenities like cafés are less dense