| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 59th | Good |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1040 Riker St, Salinas, CA, 93901, US |
| Region / Metro | Salinas |
| Year of Construction | 1977 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1040 Riker St, Salinas CA Multifamily Investment
Neighborhood fundamentals point to steady renter demand and above-median occupancy stability for the area, according to WDSuite’s CRE market data, with high-cost ownership dynamics supporting multifamily retention.
The property sits in an Inner Suburb of Salinas ranked in the top quartile among 95 metro neighborhoods (Neighborhood Rating: A). Local renters benefit from day-to-day convenience: neighborhood amenity access is competitive, with strong density of restaurants, groceries, and pharmacies compared with national peers, while cafes are also plentiful. Childcare and parks are comparatively limited, which may matter for family-oriented leasing strategies.
Multifamily performance indicators are constructive. Neighborhood occupancy is measured at 94.1% (for the neighborhood, not the property), above the national middle of the range, and the area records one of the strongest average NOI per unit profiles in the metro (ranked 1st of 95; high national standing). These signals suggest resilient demand and pricing power potential versus older or less amenitized submarkets, based on CRE market data from WDSuite.
Tenure patterns favor a deep renter pool: an estimated 57.5% of housing units in the neighborhood are renter-occupied, indicating a broad base of prospective tenants and support for lease-up and renewal activity. Within a 3-mile radius, population and households have expanded over the past five years, with additional growth projected, pointing to a larger tenant base and support for occupancy stability.
Ownership costs are elevated locally relative to income (high home values and value-to-income levels), which typically sustains reliance on rental housing and can reinforce lease retention. School quality in the neighborhood trends below national norms on average, which investors should consider when targeting family renters or planning unit mix.
Safety indicators for the neighborhood are mixed and sit below national averages overall. Relative to the 95 neighborhoods in the Salinas metro, safety ranks in the lower half, and national comparisons place the area below the middle of the pack. Recent year changes show property and violent offense rates trending higher versus national trends, underscoring the need for prudent on-site security practices and tenant-experience management. Use these figures as neighborhood context rather than block-level guidance.
Regional employers within commuting range help underpin renter demand through diversified tech employment. The nearby base includes IBM Silicon Valley Lab and Netflix, supporting workforce stability for residents with longer-distance commutes.
- IBM Silicon Valley Lab — enterprise software R&D (37.1 miles)
- Netflix — streaming & media (44.4 miles) — HQ
This 80-unit asset is positioned in a top-quartile Salinas neighborhood where renter concentration is high and amenity access is strong relative to national norms. Neighborhood occupancy is above the national middle of the range, and the area posts metro-leading average NOI per unit, indicating durable renter demand and potential for stable cash flow execution, according to CRE market data from WDSuite.
Within a 3-mile radius, population and household counts have grown and are projected to continue expanding, which supports a larger tenant base and leasing resilience. Elevated ownership costs in the neighborhood context reinforce reliance on rental housing, which can aid retention and pricing discipline, while below-average school ratings and mixed safety readings warrant active management and amenity programming to support family renters and resident experience.
- Top-quartile neighborhood in Salinas with strong amenity access supporting daily convenience
- Above-median neighborhood occupancy and metro-leading average NOI per unit support cash flow durability
- 3-mile population and household growth point to a larger renter base and leasing stability
- High-cost ownership market reinforces multifamily demand and retention potential
- Risks: below-average school ratings, mixed safety trends, and limited parks/childcare require focused asset management