| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 14th | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 528 E Market St, Salinas, CA, 93905, US |
| Region / Metro | Salinas |
| Year of Construction | 2007 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
528 E Market St, Salinas Multifamily Investment
Neighborhood occupancy is strong and renter demand appears durable in this Urban Core location, according to CRE market data from WDSuite. With a 2007 vintage relative to older nearby stock, the asset is positioned to compete for tenants seeking modern features while maintaining operational stability.
The immediate area offers everyday convenience and supports renter retention. Amenity access is among the top quartile of 95 Salinas neighborhoods, with especially dense cafe and restaurant coverage that positions the neighborhood competitively within the metro and above many areas nationally. Parks and grocery options are comparatively accessible, though pharmacy access is limited, which operators should consider for resident services planning.
For investors, the neighborhood’s occupancy rate performs in the top quartile among 95 Salinas neighborhoods, signaling tight housing conditions that can support lease-up and renewal performance. Median contract rents have increased over the past five years and sit above many U.S. neighborhoods, and the local ownership market is high-cost by national standards—factors that tend to sustain reliance on multifamily rentals and can support pricing power when managed thoughtfully.
Tenure patterns indicate a high renter concentration (share of housing units that are renter-occupied), pointing to a deep tenant base and demand stability for multifamily operators. Demographic statistics aggregated within a 3-mile radius show recent population and household growth alongside a gradual decline in average household size. Together with projected household increases, these trends suggest a larger renter pool and support for occupancy in coming years.
School ratings trend below national norms, which may tilt demand toward workforce-focused unit mixes and value-forward amenities. The broader neighborhood’s average construction year is older than the subject’s 2007 delivery, highlighting relative competitive positioning for 528 E Market St; investors should still plan for mid-life system updates and selective renovations to sustain appeal.
Relative to neighborhoods nationwide, safety indicators for the area sit below the national midpoint, while within the Salinas, CA metro the neighborhood ranks in the better-performing half (76 of 95). Property and violent offense measures do not align with the safest national percentiles, so prudent design, lighting, and resident engagement policies can help support operations. Regular, neighborhood-level trend monitoring is advisable to align staffing and capital plans with evolving conditions.
Regional employment centers within commuting distance support renter demand through a technology-oriented base. Nearby employers include IBM and Netflix, providing access to office and headquarters roles that can aid leasing consistency.
- IBM Silicon Valley Lab — corporate offices (36.3 miles)
- Netflix — entertainment & technology (44.0 miles) — HQ
528 E Market St brings 25 units delivered in 2007 to a Salinas neighborhood where occupancy is consistently tight and the renter base is deep. The area’s high-cost ownership landscape reinforces reliance on multifamily housing, while 3-mile demographics point to population and household growth with smaller household sizes—conditions that support a larger tenant base and continued leasing stability. According to CRE market data from WDSuite, neighborhood-level occupancy and amenity density compare favorably against many U.S. areas, strengthening the case for sustained demand.
The 2007 vintage is materially newer than much of the surrounding stock, offering a competitive edge versus older assets while still benefiting from targeted mid-life updates to bolster rentability. Operators should account for safety metrics that sit below national midpoints and manage rent-to-income pressures through renewals discipline and value-forward improvements.
- Tight neighborhood occupancy and high renter concentration support demand and renewal performance.
- 2007 construction offers competitive positioning versus older local stock with selective value-add upside.
- High-cost ownership market reinforces multifamily reliance, aiding pricing power when managed carefully.
- 3-mile population and household growth with smaller household sizes expand the renter pool.
- Risks: below-midpoint national safety metrics and affordability pressure require thoughtful operations and resident engagement.