| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 54th | Fair |
| Amenities | 47th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 360 Bennett St, Grass Valley, CA, 95945, US |
| Region / Metro | Grass Valley |
| Year of Construction | 1993 |
| Units | 33 |
| Transaction Date | 2021-10-27 |
| Transaction Price | $3,465,000 |
| Buyer | MEIER RICHARD W |
| Seller | CREEKSIDE PARTNERS |
360 Bennett St Grass Valley Multifamily Investment
Neighborhood occupancy has been resilient and renter demand is deep, according to CRE market data from WDSuite, supporting a stable leasing backdrop in Grass Valley for small to mid-size assets.
Situated in Grass Valley’s Inner Suburb fabric within the Truckee-Grass Valley, CA metro, the neighborhood carries an A rating and ranks 6 out of 39 locally—competitive among Truckee-Grass Valley neighborhoods for overall livability and investment fundamentals.
Leasing fundamentals are constructive: neighborhood occupancy is above the metro median, and the share of housing units that are renter-occupied is elevated (ranked 1 of 39 and high in national standing). For investors, that depth of renter concentration points to a larger tenant base and potential support for steady absorption across unit types.
Lifestyle access is mixed. Grocery and dining density are among the stronger showings in the metro (both ranking 4 of 39), and parks and childcare access also perform well (ranks 2 and 1 of 39, respectively). Café and pharmacy density are limited within the neighborhood, so residents may rely on nearby submarkets for certain conveniences. Average school ratings are around the national midpoint and competitive among metro peers, which should be considered in tenant profiling and marketing.
Asset positioning: the property’s 1993 vintage is newer than the neighborhood’s older average housing stock from the 1970s. That typically enhances competitive appeal versus legacy inventory while still warranting targeted capital planning for systems modernization or light renovations to sustain rentability.
Demand drivers within a 3-mile radius show long-run support for multifamily: population and households have expanded, with forecasts pointing to additional household growth and a gradual reduction in average household size. This combination can translate into a larger renter pool and supports occupancy stability over time. Elevated home values relative to incomes in the neighborhood (high national percentile for value-to-income) indicate a high-cost ownership market, which tends to reinforce reliance on rental housing and can aid lease retention in professionally managed properties.
Affordability management remains important. Neighborhood rent-to-income signals indicate higher-than-average pressure nationally, suggesting operators should emphasize renewals and measured rent setting to preserve occupancy and limit turnover risk.
Safety indicators for the neighborhood are mixed relative to wider benchmarks. Overall crime ranks near the middle of the 39 Truckee-Grass Valley neighborhoods, and national comparisons point to below-average safety levels.
Trend-wise, violent incidents show improvement year over year (a favorable national standing for the pace of improvement), while property-related offenses remain an area to monitor given less favorable national positioning and a recent uptick. Investors should incorporate standard security measures and tenant communication into operating plans and evaluate insurer requirements as part of underwriting.
Regional employers contribute to commuter demand, with technology employment within driving distance supporting a portion of the renter base.
- Intel Folsom FM5 — technology offices (39.9 miles)
This 33-unit asset at 360 Bennett St benefits from a renter-heavy neighborhood, above-median occupancy locally, and ownership costs that favor multifamily reliance. Based on CRE market data from WDSuite, the area’s household growth within a 3-mile radius and a forecast for additional household formation support a larger tenant base and reinforce leasing stability. With median home values high relative to incomes, professionally managed rentals can capture demand from households prioritizing convenience and flexibility.
Built in 1993, the property is newer than much of the surrounding 1970s-era stock, offering relative competitiveness versus older assets while still allowing for targeted value-add through system updates or cosmetic upgrades. Operators should balance pricing power with affordability-aware renewal strategies and maintain prudent security and insurance planning.
- Renter-heavy neighborhood and above-median occupancy support stable tenant demand
- 1993 vintage offers competitive positioning versus older local stock with targeted value-add potential
- High ownership costs in the neighborhood reinforce reliance on rental housing and lease retention
- Demographic tailwinds within 3 miles point to a larger renter pool over time
- Risks: affordability pressure (rent-to-income) and property crime trends warrant measured rents and proactive operations