| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Good |
| Demographics | 50th | Poor |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 335 Mill St, Grass Valley, CA, 95945, US |
| Region / Metro | Grass Valley |
| Year of Construction | 1973 |
| Units | 26 |
| Transaction Date | 2002-09-24 |
| Transaction Price | $1,735,000 |
| Buyer | FIDELITY HOLDINGS INC |
| Seller | FAY KELLY PETER M |
335 Mill St, Grass Valley Multifamily Value-Add
Steady renter demand and a high-cost ownership market in Grass Valley support durable occupancy, according to WDSuite s CRE market data, positioning this 1973, 26-unit asset for operational optimization and renovation upside.
The property sits in an Inner Suburb neighborhood rated A and ranked 5 of 39 in the Truckee Grass Valley metro, placing it in the top quartile locally for overall fundamentals. Neighborhood occupancy trends remain in the low-90s, with only modest softening over the past five years, indicating generally stable leasing conditions for well-managed assets.
Renter-occupied housing accounts for roughly 43% of neighborhood units, signaling a meaningful tenant base and consistent multifamily demand. Within a 3-mile radius, demographics show population and household growth with a projected increase in households over the next five years, which supports a larger renter pool and occupancy stability for professionally operated communities.
Everyday amenities are competitive among metro neighborhoods: grocery, pharmacy, and restaurant density ranks near the top of 39 local neighborhoods, while cafes are particularly strong. This concentration of services typically supports resident retention and reduces turnover friction. Average school ratings hover around the national midpoint, providing a neutral backdrop for family-oriented demand.
Home values in the neighborhood sit well above national norms and the value-to-income ratio ranks near the top nationally, creating a high-cost ownership market that tends to reinforce reliance on rental housing. In contrast, neighborhood rent-to-income sits near lower national percentiles, suggesting manageable affordability pressure that can aid renewals, though operators should still monitor pricing against income trends.
Safety indicators are mixed relative to national benchmarks. The neighborhood sits around the metro median (18 of 39) and below the national midpoint for overall safety, with property crime elevated versus many U.S. neighborhoods. However, recent year-over-year trends show improvement, including a decline in violent incidents, which is a constructive signal to watch over subsequent periods.
For investors, the practical takeaway is to underwrite standard security measures and loss assumptions consistent with markets that track near metro averages but trail national safety percentiles, while recognizing the recent downward trend as a potential tailwind if it persists.
Regional tech employment within commuting distance helps support renter demand and retention; notably, a major semiconductor office presence in Folsom provides a draw for skilled workers.
- Intel Folsom FM5 semiconductors/tech offices (39.8 miles)
This 1973, 26-unit asset offers classic value-add potential in a neighborhood that ranks in the top quartile among 39 Truckee Grass Valley neighborhoods. According to CRE market data from WDSuite, neighborhood occupancy remains in the low-90s with only modest five-year softening, while a sizable share of renter-occupied housing supports depth of tenant demand. Elevated home values and a high value-to-income ratio indicate a high-cost ownership market that tends to sustain rental demand and lease retention when operators calibrate rents to local incomes.
Within a 3-mile radius, recent population and household growth, alongside projected household increases, point to a gradually expanding renter pool. Given the older vintage, investors should plan for targeted capital improvements to enhance competitiveness versus newer supply, capturing rent premiums through renovations while maintaining attention to affordability thresholds and operating efficiency.
- Top-quartile neighborhood rank locally with stable, low-90s occupancy supporting income durability
- High-cost ownership market reinforces reliance on rentals, aiding leasing and retention
- Expanding 3-mile renter pool from recent and projected household growth
- 1973 vintage presents value-add and systems modernization opportunities
- Risks: property crime above national norms and modest occupancy softening warrant prudent underwriting