| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Good |
| Demographics | 68th | Good |
| Amenities | 21st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10020 Estates Dr, Truckee, CA, 96161, US |
| Region / Metro | Truckee |
| Year of Construction | 1982 |
| Units | 60 |
| Transaction Date | 2020-12-23 |
| Transaction Price | $2,742,000 |
| Buyer | TRUCKEE SENIOR 2019 LIMITED PARTNERSHIP |
| Seller | OREGON INVESTORS X |
10020 Estates Dr Truckee Multifamily Investment
Positioned in a high-cost ownership pocket of Truckee, this 60-unit asset benefits from steady renter demand and an expanding 3-mile tenant base, according to WDSuite’s CRE market data. Neighborhood occupancy trends warrant hands-on leasing, but elevated home values support pricing power and retention.
The property sits in a suburban neighborhood rated B+ and ranked 11 out of 39 within the Truckee-Grass Valley metro — competitive among Truckee-Grass Valley neighborhoods based on CRE market data from WDSuite. Restaurant density ranks near the top of the metro, while grocery access is mid-pack; other daily conveniences are more limited locally, so residents may rely on a broader trade area for services.
Neighborhood occupancy is reported at 75.0% (neighborhood measure), which is below national norms and places the area in a lower national percentile for stability. For investors, this suggests the need for attentive leasing and asset management to maintain performance, especially during seasonal demand swings typical of mountain metros.
Tenure skews owner-heavy at the neighborhood level, with renter-occupied housing comprising roughly the lower third of units; within a 3-mile radius, renter share is about 30%. This mix indicates a defined but selective renter pool, supporting demand for well-managed multifamily while limiting direct competition from abundant rentals.
Within a 3-mile radius, demographic trends point to population growth over the last five years and projections for further increases by 2028, supporting a larger tenant base over time. Median household incomes are high locally and have trended upward, which, combined with elevated home values (top decile nationally), reinforces renter reliance on multifamily housing and can support lease retention and disciplined rent strategies in line with commercial real estate analysis.
Homeownership costs are among the highest in the metro (home values ranked 4 of 39 and 96th percentile nationally). At the same time, local rent-to-income ratios around one-fifth indicate manageable affordability pressure relative to incomes, a constructive backdrop for occupancy and renewals when revenue management is calibrated to neighborhood demand.
Comparable safety data at the neighborhood level is limited in the current release, so investors should benchmark this area against metro and national peers when underwriting. Absent definitive ranks or percentiles, a prudent approach is to incorporate standard diligence—reviewing recent municipal reports and insurer perspectives—to contextualize tenant retention and operating assumptions.
Regional employment access is diversified at the metro scale, supporting workforce housing dynamics; nearby food distribution provides stable industrial employment that can underpin renter demand.
- Sysco Food Service — food distribution (23.3 miles)
Built in 1982, the asset is older than the neighborhood’s average vintage, creating clear value-add and capital planning angles to improve unit finishes, building systems, and energy performance relative to newer stock. Unit sizes average roughly 784 sf, suitable for efficient one- and two-bedroom layouts aimed at workforce and lifestyle renters.
Fundamentally, the submarket’s high home values and strong incomes sustain rental demand and support pricing discipline, while projections within a 3-mile radius point to population and household growth that can expand the renter pool. Neighborhood occupancy at 75.0% (neighborhood measure) argues for active leasing and renewal management; however, according to CRE market data from WDSuite, elevated ownership costs and a defined renter base help support long-run stability when operations are closely managed.
- High-cost ownership market supports sustained rental demand and pricing discipline.
- 1982 vintage offers value-add potential to compete with newer area stock.
- 3-mile demographics signal growth in population and households, expanding the tenant base.
- Risk: Neighborhood occupancy at 75.0% requires attentive leasing and renewal strategies.