| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Fair |
| Demographics | 61st | Good |
| Amenities | 35th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2411 Mission Ave, Carmichael, CA, 95608, US |
| Region / Metro | Carmichael |
| Year of Construction | 1992 |
| Units | 21 |
| Transaction Date | 2016-11-03 |
| Transaction Price | $2,700,000 |
| Buyer | CPRS INC |
| Seller | BULLOCK MAVIS L |
2411 Mission Ave Carmichael Multifamily Investment
Neighborhood occupancy is strong and in the top quartile nationally, and elevated ownership costs help sustain rental demand in Carmichael, according to WDSuite’s CRE market data.
Situated in Carmichael’s inner-suburban fabric of the Sacramento metro, the property benefits from neighborhood occupancy in the top quartile nationally and above the metro median, supporting income stability for a 21‑unit asset. Median contract rents in the neighborhood trend above national norms while the rent‑to‑income ratio sits around healthier levels, indicating manageable affordability pressure and potential for disciplined pricing power without overextending tenants.
The immediate neighborhood skews more owner‑occupied (about 28% of housing units are renter‑occupied), which can curb turnover and help stabilize nearby properties but may narrow the hyperlocal renter pool. At the same time, demographics aggregated within a 3‑mile radius show growth in population and households over the past five years with further expansion projected, pointing to a larger tenant base that can support occupancy.
Livability signals are mixed. Childcare and grocery access compare favorably to national baselines, while parks, pharmacies, and cafes are sparse—an operational consideration for retention strategies. Average school ratings in the neighborhood are below national norms, which may influence unit mix positioning for family renters; however, inner‑suburban access to broader Sacramento amenities still underpins day‑to‑day convenience.
Construction across the neighborhood averages 1979, while this asset was built in 1992. The newer vintage relative to local stock can be competitive against older comparables, though investors should plan for ongoing systems updates and selective renovations to maintain positioning and capture value‑add upside where feasible.
Home values in the neighborhood are elevated versus national benchmarks. In practice, a higher-cost ownership market often reinforces reliance on multifamily, supporting leasing velocity and retention for well‑managed properties.
Neighborhood safety metrics track around or modestly better than national midpoints, with recent estimates indicating year‑over‑year declines in both violent and property offense rates. In comparative terms, the area performs above the national median on composite crime measures, which helps support resident retention and leasing stability without implying block‑level conditions.
Within the Sacramento metro context (561 neighborhoods), this area is competitive rather than top‑tier on safety. For underwriting, treat safety as stable with a cautious outlook and monitor trend continuity given that recent improvements have been directionally positive.
Nearby logistics, healthcare, manufacturing, and technology employers provide a diversified employment base that supports renter demand and commute convenience for workforce and professional tenants. Key nodes within roughly 6–11 miles include DISH Network, Cardinal Health, International Paper, Intel, and Xerox State Healthcare.
- DISH Network Distribution Center — logistics/distribution (5.6 miles)
- Cardinal Health — healthcare supplies (5.9 miles)
- International Paper — paper & packaging (10.3 miles)
- Intel Folsom FM5 — semiconductors (10.6 miles)
- Xerox State Healthcare — healthcare services (11.1 miles)
The investment case centers on durable occupancy, a broadening renter pool, and relative positioning versus older local stock. Based on commercial real estate analysis using WDSuite data, the neighborhood’s occupancy trends are in the top quartile nationally, and elevated ownership costs support reliance on rentals—favorable for retention and steady leasing. Within a 3‑mile radius, population and household growth historically and in forecasts suggest a larger tenant base that can underpin demand.
Built in 1992, the property is newer than the area’s average vintage, offering competitive appeal against older comparables while leaving room for targeted value‑add through interior and systems modernization. Amenity gaps and below‑average school scores warrant refined marketing and asset management, but they are balanced by diversified nearby employment and inner‑suburban access to the broader Sacramento market.
- Neighborhood occupancy remains strong (top quartile nationally), supporting income stability.
- 1992 vintage offers competitive positioning versus older stock with targeted value‑add potential.
- Elevated ownership costs and a growing 3‑mile renter base support leasing and retention.
- Diversified employers within ~6–11 miles enhance demand from workforce and professional tenants.
- Risks: amenity gaps and lower school ratings may affect family renter appeal; plan for selective CapEx.