| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 49th | Fair |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 600 Mikkelsen Dr, Auburn, CA, 95603, US |
| Region / Metro | Auburn |
| Year of Construction | 1977 |
| Units | 50 |
| Transaction Date | 2014-01-21 |
| Transaction Price | $3,500,000 |
| Buyer | AUBURN VILLA PRESERVATION LIMITED PARTNE |
| Seller | AUBURN VILLA L P |
600 Mikkelsen Dr Auburn Multifamily Value-Add Opportunity
Neighborhood fundamentals point to stable renter demand supported by high-cost homeownership and solid occupancy, according to WDSuite’s CRE market data. Investors may find durable cash flow with measured upside through targeted renovations and lease management.
Located in Auburn within the Sacramento–Roseville–Folsom metro, the neighborhood is rated A- and is competitive among metro peers (133rd of 561). Amenity access trends above national medians for restaurants, cafes, groceries, and pharmacies, supporting day-to-day convenience that helps leasing and retention. Park access is limited locally, which may modestly temper appeal for outdoor-oriented residents, but overall amenity density sits in the upper half nationally.
Rents in the neighborhood track around the upper mid-range nationally while occupancy sits in the mid-90s and in the 76th percentile nationwide, signaling steady demand conditions that can support pricing discipline in typical cycles. Median home values are elevated versus national norms and sit high for the metro as well, which tends to sustain renter reliance on multifamily housing rather than ownership — a constructive backdrop for maintaining occupancy and absorption.
Within a 3-mile radius, households and families have grown over the past five years, with households up noticeably and population growth positive but modest — a mix that points to smaller household sizes and a gradually expanding tenant base. Forward-looking estimates indicate additional increases in households by 2028, which should translate into a larger pool of renters and support for occupancy stability. The 3-mile renter-occupied share is about 38%, indicating a meaningful but not dominant renter concentration, suggesting a steady depth of tenant demand without overreliance on the rental sector.
School quality indicators trend below national averages, which may cap appeal for some family renters, while amenity convenience and employment access help offset. Overall, the neighborhood’s Inner Suburb profile, amenity mix, and demand indicators align with workforce-oriented multifamily positioning and measured rent growth expectations through the cycle.
Safety indicators benchmark around the national midpoint, with overall crime in the mid-40s percentiles nationwide. Property and violent offense rates are below national medians, and recent year-over-year data shows improvement in violent incidents, according to WDSuite. In metro context, conditions are broadly comparable to many Sacramento–Roseville–Folsom neighborhoods rather than an outlier on either end.
For underwriting, this translates to typical suburban risk management considerations: maintain lighting and access controls, and emphasize resident engagement. Continued monitoring of neighborhood-level trends is appropriate, but current indicators do not suggest unusual exposure relative to similar Inner Suburb locations.
Regional employment anchors within commuting range bolster renter demand, particularly for workforce housing tied to technology, healthcare distribution, and logistics roles. The following nearby employers provide a diversified base that can aid leasing stability and retention.
- Intel Folsom FM5 — semiconductors (18.9 miles)
- Cardinal Health — healthcare distribution (30.2 miles)
- DISH Network Distribution Center — logistics/telecom distribution (31.1 miles)
- Xerox State Healthcare — healthcare IT/services (34.3 miles)
- International Paper — packaging & paper (34.5 miles)
600 Mikkelsen Dr offers a 1977-vintage, mid-size multifamily asset in an Inner Suburb neighborhood that scores competitively within the Sacramento–Roseville–Folsom metro. Elevated ownership costs in the area underpin renter demand, while neighborhood occupancy trends in the mid-90s suggest durable leasing fundamentals. According to commercial real estate analysis from WDSuite, the area’s amenity access compares favorably to national medians, supporting day-to-day livability and resident retention.
The 3-mile radius shows rising households historically with further growth projected, pointing to a larger tenant base over the next several years. The 1977 vintage indicates potential value-add via unit and system upgrades, balanced by typical capital planning for an older asset. While rent-to-income ratios suggest affordability pressure that warrants careful lease management, the high-cost ownership market and diversified employment base provide constructive demand support over the long term.
- Competitive Inner Suburb location with amenity access supporting retention
- Elevated ownership costs reinforce sustained renter demand and occupancy
- 1977 vintage with value-add potential through targeted renovations
- 3-mile household growth and projected increases expand the tenant base
- Risk: higher rent-to-income levels require active lease and renewal management