| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 46th | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 950 Nantucket Blvd, Salinas, CA, 93906, US |
| Region / Metro | Salinas |
| Year of Construction | 2002 |
| Units | 120 |
| Transaction Date | 1999-08-16 |
| Transaction Price | $1,589,000 |
| Buyer | SALINAS NANTUCKET BAY LTD |
| Seller | KELTON TITLE CORP |
950 Nantucket Blvd Salinas Multifamily Investment
Neighborhood occupancy sits in a strong range and renter demand is supported by high area incomes, according to WDSuite’s CRE market data. This asset’s 2002 vintage positions it competitively versus older local stock while allowing for targeted upgrades to enhance returns.
Located in an inner-suburb setting of Salinas, the property benefits from steady neighborhood occupancy around 96.5% (Above metro median; strong nationally), based on CRE market data from WDSuite. That stability can aid rent roll durability and reduce downtime between turns relative to softer submarkets.
The immediate neighborhood shows a lower renter concentration (about 23% of housing units are renter-occupied), implying a thinner on-block tenant base. However, within a 3-mile radius, tenure is roughly balanced between owners and renters, and households have grown over the last five years with additional growth projected—pointing to a larger tenant base and support for occupancy as more households form and average household size trends lower.
Area incomes and home values trend high for the region and rank well nationally, which typically reinforces reliance on multifamily for those not purchasing. With rent-to-income around 0.18 at the neighborhood level, pricing appears supported by earnings, which can help retention and lease management while still requiring attentive affordability monitoring.
Retail, restaurant, grocery, and park densities inside the neighborhood footprint are limited by metro standards, so residents may rely on nearby nodes for daily needs. School ratings trend below national averages, which is a consideration for family-oriented positioning; that said, the asset’s larger average unit sizes can appeal to space-seeking households and multi-generational living patterns observed locally.
Built in 2002 versus a neighborhood average vintage of 1994, the property is newer than much of the surrounding stock—supporting competitive positioning against older assets while still leaving room for modernization of finishes and systems as part of a value-add plan.
Safety indicators are mixed in comparative terms. Property-crime measures benchmark favorably versus many neighborhoods nationwide (higher national percentile indicates relatively safer conditions), while violent-offense metrics are closer to the national midpoint, according to WDSuite’s data. Within the Salinas metro, conditions vary by neighborhood; investors should consider standard security, lighting, and access controls in operations and evaluate trends at the broader area level rather than block-specific assumptions.
Regional employment access spans major tech and enterprise nodes that can underpin leasing from commuters willing to trade longer drives for housing value. Nearby anchors include IBM’s lab presence and Bay Area headquarters such as Netflix and eBay.
- IBM Silicon Valley Lab — enterprise software R&D (34.4 miles)
- Netflix — streaming & media HQ (42.6 miles) — HQ
- Ebay — ecommerce HQ (44.0 miles) — HQ
950 Nantucket Blvd offers a 2002-vintage, 120-unit asset in an inner-suburb of Salinas with neighborhood occupancy holding in a strong range relative to both metro and national benchmarks. High household incomes and elevated home values in the area help sustain multifamily demand for households not purchasing, supporting rent levels and lease retention. According to CRE market data from WDSuite, the neighborhood’s rent-to-income relationship is manageable, suggesting pricing power can be exercised thoughtfully without unduly increasing retention risk.
Within a 3-mile radius, population and household counts have grown and are projected to continue increasing while average household size trends lower—signals consistent with a gradually expanding renter pool and support for occupancy stability. The 2002 construction provides competitive positioning versus older local stock while leaving room for targeted value-add through interior updates and common-area enhancements.
- Strong neighborhood occupancy supports income stability relative to softer submarkets.
- High local incomes and elevated home values reinforce sustained multifamily demand and retention.
- 2002 vintage enables competitive positioning with upside via selective renovations.
- 3-mile demographics point to a growing household base and a gradually expanding renter pool.
- Risks: limited neighborhood amenities, below-average school ratings, and a thinner immediate renter concentration require targeted marketing and resident-experience investment.