| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Best |
| Demographics | 28th | Poor |
| Amenities | 50th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1254 La Salle Ave, Seaside, CA, 93955, US |
| Region / Metro | Seaside |
| Year of Construction | 1974 |
| Units | 24 |
| Transaction Date | 2020-03-05 |
| Transaction Price | $25,250,000 |
| Buyer | PALMER SEASIDE LLC |
| Seller | 1050 SOUTH 12TH STREET LLC |
1254 La Salle Ave Seaside Multifamily Investment
High renter concentration and above-median neighborhood occupancy point to durable leasing fundamentals, according to WDSuite s CRE market data. The property s Seaside location offers steady renter demand dynamics relative to the Salinas metro.
Located in Seaside within the Salinas, CA metro, the neighborhood rates B- and sits above the metro median (rank 49 of 95) for overall performance, based on CRE market data from WDSuite. Amenity access is competitive among Salinas neighborhoods (amenity rank 33 of 95), with exceptionally dense cafe and grocery options compared with neighborhoods nationwide, supporting daily convenience for residents and reducing friction in leasing.
Neighborhood occupancy is above the metro median and strong relative to national benchmarks, with recent stability that supports underwriting of income durability. A high share of housing units are renter-occupied (renter concentration is among the highest in the metro and in the top tier nationally), indicating a deep tenant base for multifamily.
Within a 3-mile radius, households have grown even as population has edged down, pointing to smaller household sizes and a larger number of households entering the rental market. Forecasts show further increases in household counts and a rising share of renter-occupied units over the next five years, which should expand the renter pool and support occupancy stability.
Ownership costs in the neighborhood are elevated versus national norms, which tends to reinforce reliance on multifamily rentals and can aid pricing power and lease retention. At the same time, rent-to-income ratios indicate some affordability pressure; prudent lease management and amenity positioning can help sustain renewal rates.
The average neighborhood construction year skews older than modern stock. Built in 1974, the asset is newer than the neighborhood average vintage but still an older property from an investor perspective; planning for systems updates and selective renovations may unlock value-add upside and maintain competitiveness against newer buildings.
Comparable neighborhood-level safety metrics were not available in the dataset for this location. Investors should evaluate city and precinct trend reports alongside property-level security measures and resident feedback to contextualize risk. When local data is obtained, compare the neighborhood s rate and trajectory to Salinas metro peers and national percentiles to gauge whether conditions align with stable leasing and insurance assumptions.
Regional employment is diversified across technology and professional services, supporting commuter demand into the Seaside/Salinas area and helping stabilize renter demand.
- IBM Silicon Valley Lab technology R&D (40.3 miles)
The investment case centers on renter demand depth, above-median neighborhood occupancy, and strong daily convenience that supports leasing velocity. According to CRE market data from WDSuite, the area shows high renter concentration and dense retail amenity coverage, which can underpin income durability. The 1974 vintage suggests room for targeted capital improvements to capture value-add upside and sustain competitive positioning against newer supply.
Household growth within a 3-mile radius alongside rising renter share points to a larger tenant base over the next several years, even as population trends flatten. Elevated ownership costs in the neighborhood reinforce multifamily reliance, while rent-to-income levels argue for disciplined revenue management and renewal strategies.
- Above-median neighborhood occupancy and high renter concentration support income stability.
- Dense cafe and grocery access enhances livability and leasing appeal.
- 1974 vintage offers value-add potential through systems upgrades and selective renovations.
- Expanding household counts within 3 miles indicate a growing renter pool over the forecast period.
- Risk: rent-to-income pressure and limited park/childcare density call for careful renewal and amenity strategy.