| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 14th | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 415 Williams Rd, Salinas, CA, 93905, US |
| Region / Metro | Salinas |
| Year of Construction | 1977 |
| Units | 22 |
| Transaction Date | 2021-09-02 |
| Transaction Price | $5,000,000 |
| Buyer | BRIDGE ST WAREHOUSE LLC |
| Seller | VISTA INTERNATIONAL INC |
415 Williams Rd Salinas Multifamily Investment
Neighborhood occupancy is strong with a deep renter base, according to WDSuite’s CRE market data, supporting stable leasing potential for a 22‑unit asset in Salinas. Elevated ownership costs in Monterey County further sustain renter reliance on multifamily housing.
Situated in Salinas’ Urban Core, the neighborhood rates a B and is competitive among 95 metro neighborhoods (ranked 38), with occupancy around 97% and a high share of renter-occupied units (about two-thirds). For investors, that indicates a broad tenant pool and supports occupancy durability at properties nearby like 415 Williams Rd.
Amenities are a relative strength: dining and cafe density rank near the top of the metro and well above national averages, with grocery access and park coverage also solid. Pharmacy access is thinner relative to peers. Average school ratings trend below national norms, which can influence unit mix strategy and marketing toward workforce renters rather than school-driven demand.
Home values in the neighborhood are elevated versus national benchmarks, and value-to-income ratios are high for the metro. In investor terms, this reflects a high-cost ownership market that tends to reinforce rental demand and lease retention for well-managed multifamily assets. Median contract rents in the neighborhood have grown meaningfully over the past five years, supporting achievable rent levels while requiring attention to affordability and renewal management.
Within a 3‑mile radius, demographics show recent population and household growth, with additional household gains projected alongside a gradual shift toward smaller household sizes. This points to a larger tenant base over time and potential demand for efficient floor plans. These trends align with observed neighborhood performance and are consistent with commercial real estate analysis from WDSuite’s dataset for Salinas.
Safety metrics indicate the area performs below the national median, with neighborhood crime ranks placing it below the metro average (rank 76 out of 95). Property offense measures sit closer to the national middle, while violent offense measures trend weaker relative to national benchmarks. Recent year-over-year changes show upticks, so active monitoring, lighting, and access controls can be important parts of an operating plan.
Investors should interpret these figures as neighborhood-level indicators rather than property-specific conditions. Comparing against peer submarkets and tracking trend direction over the hold period can help calibrate security budgets and leasing strategies.
Regional employment access is diversified, with commutable reach to technology offices that can augment renter demand for workforce housing. Notable employer nearby includes:
- IBM Silicon Valley Lab — technology R&D offices (36.5 miles)
415 Williams Rd is a 22‑unit, 1977‑vintage asset positioned in a renter-centric Salinas neighborhood where occupancy is strong and ownership costs are elevated. The vintage is newer than the area’s older housing stock, offering relative competitiveness versus pre‑1960 properties; however, investors should plan for aging systems and selective modernization to maximize leasing performance. Within a 3‑mile radius, population and household growth—paired with a projected shift toward smaller household sizes—supports a larger tenant base and demand for efficient units. According to CRE market data from WDSuite, neighborhood occupancy outperforms national medians and the renter-occupied share is high, reinforcing demand depth.
Amenity density (restaurants, cafes, groceries, parks) is a local advantage, while below-average school ratings and mixed safety benchmarks warrant prudent underwriting and targeted operations. Elevated home values sustain rental demand and can support retention and pricing power when balanced with affordability and renewal strategies.
- Strong neighborhood occupancy and high renter-occupied share support leasing stability
- 1977 vintage offers competitive positioning versus older local stock with modernization upside
- Elevated ownership costs in Salinas bolster multifamily demand and retention
- 3‑mile population and household growth point to a larger tenant base and efficient-unit demand
- Risks: below-average school ratings, safety metrics below national medians, and affordability pressure requiring careful lease management