| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 47th | Good |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 300 E Romie Ln, Salinas, CA, 93901, US |
| Region / Metro | Salinas |
| Year of Construction | 1975 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
300 E Romie Ln Salinas Multifamily Investment
This 24-unit property benefits from neighborhood-level occupancy rates of 98.5%, positioning it in a market with strong tenant retention dynamics according to WDSuite's CRE market data.
Located in a suburban Salinas neighborhood ranking 13th among 95 metro neighborhoods, this area demonstrates solid fundamentals for multifamily investors. The neighborhood maintains a 98.5% occupancy rate, ranking 17th metro-wide and placing in the 92nd national percentile for occupancy stability. With 41.6% of housing units being renter-occupied, the area provides a substantial tenant base that supports consistent demand for rental housing.
Demographics within a 3-mile radius show steady household growth, with an 8.5% increase in households over five years and projections for continued expansion through 2028. The current median household income of $81,510 has grown 48.5% over five years, indicating improving economic conditions that support rent affordability. Home values averaging $813,764 and ranking in the 95th national percentile create a significant ownership cost barrier that reinforces rental demand and tenant retention in the multifamily market.
Built in 1975, this property is newer than the neighborhood average construction year of 1962, potentially reducing near-term capital expenditure needs compared to older area stock. The neighborhood offers solid amenity access with grocery stores, restaurants, and childcare facilities ranking above metro averages, supporting tenant appeal and retention rates that benefit investor returns.
Safety metrics for this neighborhood show moderate performance relative to metro and national standards. The area ranks 74th out of 95 Salinas metro neighborhoods for overall crime, placing it in the 33rd national percentile. Property offense rates and violent crime indicators suggest investors should factor security considerations into tenant retention and property management strategies.
While crime statistics indicate room for improvement compared to top-performing neighborhoods, the area's strong occupancy rates suggest current residents find the location acceptable for their housing needs. Investors may want to evaluate security enhancements as part of value-add initiatives to support competitive positioning in the local rental market.
The employment base in this Salinas submarket is primarily supported by regional employers, though major corporate offices are located at greater distances from the immediate area.
- IBM Silicon Valley Lab — technology offices (37.3 miles)
This 24-unit Salinas property offers investors exposure to a neighborhood with exceptional occupancy stability, ranking in the 92nd national percentile at 98.5%. The substantial renter concentration of 41.6% creates a deep tenant pool, while elevated home values in the 95th national percentile nationwide limit ownership accessibility and sustain rental demand. Demographic trends within a 3-mile radius show household growth of 8.5% over five years, with projections for continued expansion supporting long-term tenant base growth.
Built in 1975, the property is newer than the 1962 neighborhood average, potentially offering reduced maintenance requirements compared to area competitors. However, investors should consider the moderate safety profile ranking 74th among 95 metro neighborhoods and evaluate security improvements as part of value-enhancement strategies.
- Neighborhood occupancy rate of 98.5% ranks in 92nd national percentile
- High home values create ownership barriers that support rental demand
- Growing household base with 8.5% five-year increase and continued projections
- Property vintage newer than neighborhood average reduces capital expenditure risk
- Crime metrics rank below metro median, requiring security evaluation for competitive positioning