| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 25th | Poor |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 336 California St, Salinas, CA, 93901, US |
| Region / Metro | Salinas |
| Year of Construction | 1975 |
| Units | 23 |
| Transaction Date | 1998-12-17 |
| Transaction Price | $1,295,000 |
| Buyer | VILLALPANDO JOHN D |
| Seller | SLAUGHTER TERRY W |
336 California St, Salinas Multifamily Investment Thesis
Urban-core setting with strong renter concentration and amenity density suggests durable tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy trends sit near the metro middle, pointing to stable but competitive leasing conditions.
Located in Salinas s Urban Core, the property benefits from dense everyday amenities cafes, groceries, and restaurants are abundant, placing the area competitive among Salinas neighborhoods (18th of 95) for overall amenity access. This concentration supports day-to-day convenience and helps sustain renter interest relative to less-amenitized submarkets.
The neighborhood s housing stock skews older than the subject, with an average construction year around the early 1950s; at 1975, the asset is newer than much of the surrounding inventory, which can be a competitive edge versus older vintage properties while still warranting selective system upgrades or modernization to meet current renter expectations.
Renter-occupied housing share is high locally, signaling a deep tenant base and consistent multifamily demand. Neighborhood occupancy trends track around the metro median, suggesting steady leasing yet room for operational improvements through unit turns, targeted renovations, and disciplined revenue management.
Within a 3-mile radius, demographics indicate modest population growth and an expanding household base, supporting a larger tenant pool over time. Elevated ownership costs in the metro context reinforce reliance on rental housing, which can aid retention and pricing power, while rent-to-income dynamics warrant attentive lease management to balance renewal velocity with affordability pressure.
Safety indicators for the neighborhood trail national averages, and the area ranks in the lower half among 95 Salinas metro neighborhoods. Recent year-over-year readings indicate a noticeable uptick in property and violent offense estimates, signaling that owners should emphasize lighting, access control, and community standards as part of asset management.
Investors should benchmark performance against similar Urban Core locations across the region and track trend direction rather than single-year figures. Positioning the asset with appropriate security measures and resident engagement can help support retention and leasing stability despite below-average comparative safety metrics.
Regional employers within commuting reach can broaden the renter pool and support retention, notably technology and R&D offices referenced below.
- IBM Silicon Valley Lab technology/R&D (36.5 miles)
- Netflix streaming/media (44.0 miles) HQ
This 23-unit, 1975-vintage asset sits in an amenity-dense Urban Core pocket where renter-occupied housing is prevalent, underpinning depth of demand. Based on CRE market data from WDSuite, neighborhood occupancy trends align near the metro midpoint, implying steady operations with potential upside from targeted renovations and active revenue management. The vintage, newer than the neighborhood average, offers a relative edge versus older stock while leaving room for selective value-add to improve competitiveness.
Within a 3-mile radius, recent and projected population and household gains point to a larger tenant base over time. Elevated ownership costs at the metro level tend to sustain rental reliance, supporting lease retention and pricing power, while rent-to-income readings suggest prudent renewal strategies to manage affordability pressure. Amenity concentration strengthens livability, though owners should account for below-average safety metrics and limited park/pharmacy presence when planning resident experience initiatives.
- Amenity-rich Urban Core setting supports steady leasing and tenant retention
- 1975 vintage is newer than neighborhood average, with value-add and modernization potential
- High renter concentration and household growth within 3 miles deepen the tenant base
- Elevated ownership costs favor sustained rental demand and potential pricing power
- Risks: safety metrics trail national averages and limited nearby parks/pharmacies; success depends on operations and resident experience