| 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 | 2021-06-20 |
| Transaction Price | $12,250,000 |
| Buyer | 2405WAL LLC |
| Seller | OWNE MJD JCR 2405 WALNUT AVE MULTIFAMILY |
2405 Walnut Ave Carmichael 66-Unit Multifamily Investment
Stabilized renter demand in an inner-suburban pocket supports occupancy durability, according to WDSuite’s CRE market data. Neighborhood fundamentals point to steady leasing with value-add potential from an older 1976 vintage.
Located in Carmichael within the Sacramento-Roseville-Folsom metro, the neighborhood posts above-median performance with a B- rating and sits roughly mid-pack among 561 metro neighborhoods. Occupancy in the surrounding neighborhood is strong and competitive nationally, landing in the top quartile, which can underpin leasing stability for multifamily operators.
Rent levels benchmark around the national 70th percentile, while home values trend higher (top quartile nationally). In a high-cost ownership market, this typically sustains reliance on rental housing and can support pricing power and retention. Rents relative to incomes appear manageable for many area households, which can help mitigate turnover risk.
Within a 3-mile radius, population and household counts have expanded in recent years and are projected to continue growing, signaling a larger tenant base over time. The renter-occupied share is roughly two-fifths of housing units, indicating meaningful depth in the multifamily demand pool without being overly concentrated in renter-occupied stock.
Day-to-day convenience is serviceable: grocery access benchmarks near the national 70th percentile and restaurant density is around mid-range, though parks, cafes, and pharmacies are sparse in the immediate neighborhood. Childcare availability trends in the top quartile nationally, which can support family-oriented renter demand. Average school ratings sit below the national median and should be considered in marketing and leasing strategies.
Construction year averages in this area skew late-1970s; this property’s 1976 vintage is slightly older, pointing to potential value-add through targeted renovations and modernization to remain competitive against newer stock.
Safety indicators are mixed. Compared with neighborhoods nationwide, the area benchmarks modestly above the national median for safety. Within the Sacramento metro, the neighborhood’s crime rank (measured against 561 neighborhoods) places it in a less favorable tranche locally, so investors should underwrite appropriate security measures and loss assumptions.
Recent trend data from WDSuite show year-over-year declines in both property and violent offenses, suggesting improving momentum. As always, evaluate recent comp submarkets and property-level security practices to contextualize neighborhood trends.
Nearby employers provide a diversified base of warehouse/logistics, healthcare distribution, technology, and business services roles that support renter demand and commute convenience for residents of Carmichael.
- DISH Network Distribution Center — distribution/logistics (5.8 miles)
- Cardinal Health — healthcare distribution (6.3 miles)
- Intel Folsom FM5 — semiconductor offices (10.1 miles)
- International Paper — packaging/manufacturing offices (10.8 miles)
- Xerox State Healthcare — business services (11.6 miles)
This 66-unit, mid-1970s asset sits in an inner-suburban location where neighborhood occupancy performs in the top quartile nationally, supporting stable leasing. Elevated home values relative to national norms reinforce reliance on rental housing, while rents track near the national upper-middle range, balancing demand depth with retention. According to CRE market data from WDSuite, demographic trends within a 3-mile radius show growth in population and households, expanding the renter pool over time.
The 1976 vintage is slightly older than the local late-1970s average, creating a clear value-add path through interior and systems updates to enhance competitive positioning versus newer product. Amenity access is adequate for daily needs, though limited park and café density and below-median school scores suggest a focus on workforce households and professional renters rather than school-driven leasing.
- Strong neighborhood occupancy supports leasing stability and cash flow resilience.
- High-cost ownership market reinforces renter reliance and pricing power potential.
- 1976 vintage offers value-add upside via targeted renovations and modernization.
- Expanding 3-mile population and household counts point to a growing tenant base.
- Risks: below-median school ratings, sparse parks/cafes, and locally competitive safety require prudent operations and underwriting.