| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 34th | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1450 N 1st St, Salinas, CA, 93906, US |
| Region / Metro | Salinas |
| Year of Construction | 1980 |
| Units | 116 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1450 N 1st St, Salinas CA Multifamily Opportunity
Neighborhood occupancy sits at the top of the Salinas metro, pointing to durable leasing fundamentals, according to WDSuite’s CRE market data. Expect demand supported by a high-cost ownership market and steady renter need rather than outsized volatility.
This Urban Core location in Salinas offers daily convenience that supports renter retention: restaurants and groceries are dense by regional standards, with restaurant and grocery availability in the top quartile nationally. Caf e9 density also ranks in the top quartile nationwide, while parks, pharmacies, and childcare are limited within the immediate neighborhood, suggesting amenities skew toward food and daily retail over green space and services.
Operationally, the neighborhood shows strong income performance and stability signals. Net operating income per unit benchmarks in the top quartile nationally and ranks competitive among Salinas neighborhoods (No. 3 out of 95), and neighborhood occupancy is the highest in the metro (No. 1 of 95) based on CRE market data from WDSuite. These are neighborhood-level indicators, not property-specific results, but they underscore resilient renter demand in this submarket.
Tenure patterns point to a meaningful renter base for multifamily. Within the neighborhood, the share of housing units that are renter-occupied is moderate, while the 3-mile radius shows a larger renter concentration, indicating a deep tenant pool feeding assets along the North First Street corridor. Elevated home values relative to incomes place the area in a high-cost ownership market, which tends to reinforce reliance on multifamily housing and supports lease retention.
Schools in the immediate area rate below national averages, which some workforce renters may accept in exchange for proximity to jobs and services. The average construction year for nearby housing stock skews older; by contrast, a 1980 vintage positions the asset newer than much of the surrounding inventory, typically aiding competitive positioning even as systems may warrant modernization over a hold.
Safety trends are mixed in comparative terms. Overall crime levels track below the national median, while violent offense rates sit around the national midpoint and property offense rates are safer than the national average, based on WDSuite s CRE market data. Within the Salinas metro context, conditions vary by block; prudent asset plans often emphasize lighting, access control, and resident engagement to support retention.
Regional employment access is anchored by large technology employers within commuting range, supporting workforce housing demand and lease stability for North Salinas assets. The employers below illustrate the nearby base.
- IBM Silicon Valley Lab f d corporate offices (34.1 miles)
- Netflix f d corporate offices (41.8 miles) f d HQ
- Ebay f d corporate offices (43.3 miles) f d HQ
1450 N 1st St benefits from neighborhood fundamentals that favor occupancy stability and steady demand. Neighborhood occupancy ranks No. 1 among 95 Salinas neighborhoods, and NOI per unit benchmarks in the top quartile nationally, according to CRE market data from WDSuite. In a high-cost ownership market, renter households form a deep tenant base within a 3-mile radius, and projected growth in population and households indicates a larger pool of renters over the next five years, supporting pricing power when paired with careful lease management.
Built in 1980, the asset is newer than much of the surrounding housing stock, offering competitive positioning versus older properties. Investors should plan for targeted modernization to capture value-add upside while monitoring affordability pressure: rent-to-income levels remain manageable locally, but submarket schools and service gaps, along with variable safety by block, call for thoughtful operations and resident experience.
- Neighborhood occupancy leads the Salinas metro (No. 1 of 95), supporting stable leasing.
- High-cost ownership environment reinforces sustained multifamily demand and lease retention.
- 1980 vintage offers competitive positioning versus older stock, with clear modernization upside.
- 3-mile area shows population and household growth, expanding the tenant base.
- Risks: limited nearby parks/pharmacies, below-average school ratings, and block-level safety variability requiring proactive management.