| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 25th | Poor |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 306 Soledad St, Salinas, CA, 93901, US |
| Region / Metro | Salinas |
| Year of Construction | 2006 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
306 Soledad St, Salinas CA Multifamily Investment
Newer construction relative to the local stock and a deep renter-occupied base support steady multifamily demand in Salinas, according to WDSuite’s CRE market data. Positioned near daily-needs amenities, the asset benefits from broad tenant reach informed by ongoing multifamily property research trends.
This Urban Core neighborhood offers strong daily convenience: cafes, groceries, and restaurants rank competitive among Salinas neighborhoods (top 7–8 positions out of 95), and are top quartile nationally for density. Limited park and pharmacy access locally suggests residents rely more on nearby commercial corridors for services.
The neighborhood’s housing is materially older than the subject’s 2006 vintage (local average year built is 1953; rank 77 of 95), which positions the property as relatively competitive versus much of the existing stock. That newer profile can reduce near-term obsolescence risk, while still requiring normal system upgrades over the hold.
Occupancy in the neighborhood is around the metro middle (rank 57 of 95), and the share of renter-occupied housing is high (rank 9 of 95), indicating a sizable tenant base and leasing depth for small to mid-size assets. At the same time, a rent-to-income profile near the lower national percentile signals some affordability pressure, making disciplined lease management important.
Within a 3-mile radius, WDSuite data shows recent population and household growth with further increases projected, supporting a larger tenant pool and ongoing demand for rental units. Household incomes have trended upward, and home values remain elevated relative to incomes (high national percentile for value-to-income), a combination that reinforces reliance on rental housing and can aid retention—an insight grounded in commercial real estate analysis.
Safety trends are mixed. The neighborhood falls below the U.S. middle on national safety percentiles and ranks 75th out of 95 Salinas metro neighborhoods, indicating comparatively higher crime than many areas of the metro. Recent year-over-year readings show upticks in both property and violent offenses, so underwriting should include prudent security and operating contingencies.
For investors, the takeaway is relative, not absolute: the area’s safety profile is weaker than metro averages but can be mitigated by professional management, lighting and access control, and resident engagement common to workforce housing strategies.
- IBM Silicon Valley Lab — technology R&D (36.4 miles)
- Netflix — streaming & media (43.9 miles) — HQ
Regional tech employers within commuting range contribute to broader job diversity that supports renter demand and retention at workforce-oriented assets.
Built in 2006 with 20 units averaging 612 sq. ft., the property stands newer than much of the surrounding housing stock, giving it a competitive position versus older assets while leaving room for targeted modernization over time. Neighborhood occupancy sits near the metro midpoint, and the renter-occupied share is high—factors that typically support leasing stability and depth. Elevated home values relative to incomes point to a high-cost ownership market, which can reinforce renter reliance on multifamily housing.
Within a 3-mile radius, WDSuite indicates population growth and a meaningful increase in households, with further expansion projected—supportive of a larger tenant base and sustained demand. According to CRE market data from WDSuite, rents and incomes have trended higher locally, though rent-to-income readings suggest some affordability pressure; investors should plan for thoughtful renewals and expense control to sustain NOI.
- 2006 vintage offers relative competitiveness versus older neighborhood stock with selective value-add potential
- High renter-occupied share supports demand depth and leasing resiliency
- Elevated ownership costs in the area reinforce reliance on rental housing and tenant retention
- 3-mile population and household growth expand the tenant base and support occupancy
- Risk: below-average safety and affordability pressure warrant proactive management and operating reserves