| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 19th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 904 Acosta Plz, Salinas, CA, 93905, US |
| Region / Metro | Salinas |
| Year of Construction | 1985 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | $3,598,000 |
| Buyer | Active Listing |
| Seller | Private Seller |
904 Acosta Plz Salinas Multifamily Investment
This 36-unit property benefits from strong neighborhood occupancy at 95.9% and a high rental share of 71.3%, according to CRE market data from WDSuite.
Located in Salinas' urban core, this neighborhood ranks in the top quartile among 95 metro neighborhoods for overall housing fundamentals. The area maintains a 95.9% occupancy rate, well above typical market levels, with 71.3% of housing units renter-occupied—ranking 6th regionally and placing in the 97th percentile nationally for rental share.
Built in 1985, this property aligns with the neighborhood's average construction year of 1969, suggesting consistent building stock without immediate capital expenditure pressures. Median contract rents of $1,697 have grown 55.8% over five years, reflecting sustained demand despite affordability pressures indicated by rent-to-income ratios.
Demographics within a 3-mile radius show a population of approximately 121,000 with 51.6% renter-occupied units. Household income averages $87,852, with projections indicating 40% growth in total households by 2028. This expansion supports multifamily demand fundamentals, though elevated ownership costs at 6.7 times income reinforce rental market reliance.
The neighborhood offers strong amenity density with 5.2 grocery stores per square mile (96th percentile nationally) and robust restaurant access. However, childcare availability is limited and school ratings average 1.5 out of 5, factors that may influence tenant demographics and retention strategies.
Property crime rates in this neighborhood rank 56th among 95 metro neighborhoods, placing in the 62nd percentile nationally—indicating moderate safety conditions relative to comparable markets. Violent crime rates rank 70th locally but remain in the 40th percentile when compared to neighborhoods nationwide.
Recent trends show property crime increased 66.9% year-over-year, though this places the neighborhood in the 17th percentile for crime increases nationally, suggesting the uptick may reflect broader regional patterns rather than isolated deterioration. Investors should monitor these trends for potential impacts on tenant retention and insurance costs.
The property benefits from proximity to major technology employers, with IBM Silicon Valley Lab and Netflix headquarters providing workforce housing demand within commuting distance.
- IBM Silicon Valley Lab — technology offices (35.8 miles)
- Netflix — streaming technology services (43.8 miles) — HQ
This 36-unit property offers exposure to Salinas' stable rental market, supported by neighborhood-level occupancy of 95.9% and a dominant renter share of 71.3% among housing units. Built in 1985, the asset aligns with area vintage norms while positioning for potential value-add opportunities. Demographics within a 3-mile radius project 40% household growth through 2028, expanding the potential tenant base as elevated ownership costs maintain rental demand.
The urban core location provides strong amenity access with grocery and restaurant density in the top national percentiles, though limited childcare and below-average school ratings may narrow target demographics. According to multifamily property research from WDSuite, rent growth of 55.8% over five years demonstrates pricing power, balanced against affordability considerations that require careful lease management.
- High neighborhood occupancy at 95.9% indicates stable rental demand
- Dominant rental market with 71.3% renter-occupied units (97th percentile nationally)
- Projected 40% household growth through 2028 supports tenant base expansion
- 1985 construction year offers potential value-add renovation upside
- Risk: Recent property crime increases and rent-to-income pressures require monitoring