| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 63rd | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 304 Sutton Way, Grass Valley, CA, 95945, US |
| Region / Metro | Grass Valley |
| Year of Construction | 1991 |
| Units | 44 |
| Transaction Date | 2018-10-26 |
| Transaction Price | $4,000,000 |
| Buyer | KILBORN FAMILY TRUST |
| Seller | HARDING INVESTMENTS |
304 Sutton Way, Grass Valley Multifamily Investment
Amenity-rich inner suburb with stable neighborhood occupancy and strong renter concentration, according to WDSuite s CRE market data, supporting durable tenant demand for a 44-unit asset.
The property sits in an Inner Suburb neighborhood rated A+ and ranked 1st among 39 metro neighborhoods, reflecting strong local fundamentals. Amenity access is a notable strength: neighborhood cafes, restaurants, groceries, and pharmacies rank near the top of the metro (with several categories ranked 1st or 2nd), and amenities score in the top quartile nationally. For families, neighborhood schools average 4.0 out of 5 and rank 2nd among 39, also placing in a high national percentile, which can aid retention for larger units.
Neighborhood occupancy is around the metro median (ranked 17th of 39), while the renter-occupied share is elevated at 50.3% (2nd of 39; high national percentile). For investors, this indicates a deep tenant base and steady leasing velocity across economic cycles, though lease management discipline remains important to sustain pricing power.
Construction trends in the area skew older (average vintage 1968). Built in 1991, the subject property is newer than much of the nearby stock, which can be a competitive advantage versus older assets; however, investors should still plan for targeted modernization and systems upgrades typical of 1990s construction to support rent positioning.
Within a 3-mile radius, demographics point to a growing renter pool: recent population and household counts have expanded, and WDSuite s projections indicate additional growth over the next five years alongside rising median incomes. This expansion supports occupancy stability and absorption for well-managed multifamily. Elevated home values in the neighborhood (high national percentile) signal a high-cost ownership market, which tends to reinforce reliance on rental housing and can underpin lease retention. Neighborhood NOI per unit also ranks 1st in the metro and sits in a strong national percentile, highlighting attractive operating fundamentals at the neighborhood level.
Safety trends are mixed and should be evaluated at the neighborhood level rather than at the property. The neighborhood ranks in the lower half of the metro (27th of 39) on crime metrics, and national percentiles indicate it is less safe than many areas nationwide. At the same time, property-related offenses have eased year over year, while violent offense estimates ticked up, underscoring the importance of active management practices such as lighting, access control, and resident engagement.
For investors, the takeaway is comparative rather than absolute: performance sits below metro averages on safety, but recent improvement in property offenses suggests some positive momentum. Underwriting should incorporate security measures and insurance assumptions that align with neighborhood benchmarks.
Regional employment anchors contribute to renter demand, with notable influence from the Sacramento Folsom tech and services corridor. The list below highlights a key nearby employer relevant to commuting patterns and leasing stability.
- Intel Folsom FM5 semiconductor operations (41.0 miles)
304 Sutton Way offers scale at 44 units in an amenity-rich, top-ranked Grass Valley neighborhood where renter-occupied housing is high and neighborhood occupancy sits near the metro median. Built in 1991, the asset is comparatively newer than much of the local stock, supporting competitive positioning versus 1960s-vintage properties while allowing room for strategic value-add to modernize interiors and building systems. According to CRE market data from WDSuite, the neighborhood posts strong operating indicators, and a high-cost ownership backdrop supports continued rental reliance and retention.
Within a 3-mile radius, population and household growth—alongside rising incomes—point to a larger tenant base over the next five years. These dynamics, combined with strong neighborhood amenities and solid school ratings, can support occupancy stability and disciplined rent management. Key risks include below-metro safety positioning and reliance on broader regional employment hubs, which should be reflected in underwriting and asset management plans.
- Amenity-rich, A+ neighborhood ranked 1st of 39 with strong national standing
- High renter-occupied share (2nd of 39) supports depth of tenant demand
- 1991 vintage offers relative competitiveness vs. older stock with value-add potential
- 3-mile population and household growth support occupancy stability and absorption
- Risk: safety ranks in lower half of metro; incorporate security and insurance in underwriting