| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 61st | Good |
| Amenities | 35th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2405 Walnut Ave, Carmichael, CA, 95608, US |
| Region / Metro | Carmichael |
| Year of Construction | 1976 |
| Units | 66 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2405 Walnut Ave Carmichael Multifamily Investment Opportunity
This 66-unit property serves an inner-suburb neighborhood where occupancy trends remain strong at 97.4%, and median household incomes rank in the 83rd percentile nationally, supporting stable rental demand according to CRE market data from WDSuite.
The property is located in a B-rated inner-suburb neighborhood within the Sacramento-Roseville-Folsom metro, an area characterized by stable occupancy trends and above-average household incomes. Neighborhood-level occupancy stands at 97.4% and has grown 2.2 percentage points over the past five years, placing it in the 86th percentile nationally—a signal of resilient demand and tenant retention. The neighborhood ranks 170th among 561 metro neighborhoods for occupancy, reflecting performance above the metro median and competitive fundamentals among Sacramento submarkets.
Within a 3-mile radius, the area serves approximately 98,000 residents with a median household income of $94,698, up 38.6% over five years. Income levels rank in the 83rd percentile nationally, supporting pricing power and lease renewals. Renter-occupied units represent 42.5% of housing tenure in the immediate demographic area, a concentration that sustains multifamily demand depth and provides a stable tenant pool. Five-year forecasts project household growth of 5.7% and a median income increase to $127,408, reinforcing the area's trajectory as a workforce housing node.
Median contract rent in the neighborhood is $1,307, ranking in the 70th percentile nationally and reflecting moderate affordability relative to income. Rent-to-income ratios rank favorably (70th percentile nationally), reducing retention risk and supporting lease management flexibility. Median home values stand at $519,250, up 46% over five years and ranking in the 85th percentile nationally; elevated ownership costs sustain rental demand and limit accessibility to homeownership, reinforcing reliance on multifamily housing for workforce households.
The property was built in 1976, slightly older than the neighborhood's average construction year of 1979 (49th percentile nationally). Vintage properties in this cohort often present value-add opportunities through unit renovations, common-area upgrades, or operational efficiencies that can support rent growth and margin improvement. Investors should plan for near-term capital expenditure needs consistent with older building stock, balancing renovation upside against deferred maintenance considerations.
Amenity density is mixed: childcare facilities rank in the 82nd percentile nationally with nearly one center per square mile, supporting family-oriented tenant demand. Grocery access ranks in the 70th percentile nationally, contributing to daily convenience and tenant satisfaction. However, the neighborhood ranks below metro averages for cafes, parks, and pharmacies, with zero density per square mile in each category—factors that may weigh on tenant appeal relative to more amenity-rich submarkets. School ratings average 1.5 out of 5, placing the area in the 26th percentile nationally, a consideration for family-focused tenant retention strategies.
Safety metrics for the neighborhood reflect near-median performance within the Sacramento metro. The overall crime rank stands at 187th among 561 metro neighborhoods, placing it in the 59th percentile nationally—indicating crime levels slightly better than the national midpoint for similar neighborhoods. Property offense rates are estimated at 228 incidents per 100,000 residents annually, ranking 219th locally (53rd percentile nationally), while violent offense rates are estimated at 33 incidents per 100,000 residents, ranking 236th locally (50th percentile nationally).
Importantly, both property and violent crime trends have improved over the past year, with property offenses declining 14.7% (58th percentile nationally for improvement) and violent offenses down 30.2% (75th percentile nationally for improvement). These directional trends suggest stabilizing conditions that support tenant confidence and retention. Investors should monitor crime data at the submarket level and consider how local law enforcement, community engagement, and property management practices influence perceptions of safety and long-term tenant satisfaction.
The property benefits from proximity to established corporate employers across distribution, healthcare, and technology sectors, supporting workforce housing demand and commute convenience for tenants.
- DISH Network Distribution Center — distribution and logistics (5.8 miles)
- Cardinal Health — healthcare services and distribution (6.4 miles)
- Intel Folsom FM5 — technology and semiconductor manufacturing (10.1 miles)
- International Paper — manufacturing and industrial operations (10.8 miles)
- Xerox State Healthcare — healthcare technology and services (11.6 miles)
This 66-unit multifamily property in Carmichael presents investors with a combination of stable fundamentals and value-add potential within a resilient Sacramento submarket. The neighborhood's 97.4% occupancy rate and five-year occupancy growth of 2.2 percentage points (86th percentile nationally) signal sustained tenant demand and competitive positioning. Median household incomes of $94,698, ranking in the 83rd percentile nationally and projected to reach $127,408 within five years, provide a strong income base that supports rent growth and tenant retention over the investment horizon.
The property's 1976 vintage offers value-add opportunities through strategic capital investment in unit interiors, common areas, and operational improvements that can drive rent premiums and margin expansion. With median home values at $519,250 (85th percentile nationally) and rising 46% over five years, elevated ownership costs continue to reinforce rental demand among workforce households, reducing conversion risk and sustaining occupancy. The neighborhood's 42.5% renter-occupied housing tenure ensures a deep and stable tenant pool, while favorable rent-to-income ratios (70th percentile nationally) minimize payment stress and support lease renewals.
Proximity to major employers including DISH Network, Cardinal Health, and Intel Folsom within a 6-to-11-mile radius strengthens employment accessibility and commute convenience, critical factors for tenant acquisition and retention in workforce housing. Five-year household growth projections of 5.7% and income growth trends reinforce the submarket's trajectory as a demand center within the Sacramento metro. Crime trends show meaningful improvement, with property offenses down 14.7% and violent offenses down 30.2% year-over-year, supporting tenant confidence and operational stability.
Investors should evaluate near-term capital expenditure requirements consistent with the property's age and assess renovation sequencing to balance cash flow preservation with value enhancement. Amenity gaps in parks, cafes, and pharmacies, along with below-average school ratings (26th percentile nationally), may influence tenant mix and positioning strategies. Overall, the asset offers a balanced risk-return profile anchored by strong occupancy fundamentals, above-average income demographics, and clear pathways to operational and physical improvements that can drive total returns.