| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 59th | Fair |
| Amenities | 16th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3520 Mission Ave, Carmichael, CA, 95608, US |
| Region / Metro | Carmichael |
| Year of Construction | 1980 |
| Units | 36 |
| Transaction Date | 2003-04-17 |
| Transaction Price | $2,550,000 |
| Buyer | KAILATH JOHN M |
| Seller | JACOBSON KENNETH P |
3520 Mission Ave Carmichael 36-Unit Multifamily
Neighborhood occupancy trends sit at the top of the Sacramento metro and point to durable leasing, according to WDSuite’s CRE market data. Investors evaluating this Carmichael location can prioritize stable operations while underwriting moderate rent growth and measured capex.
Situated in Carmichael’s inner-suburban fabric of the Sacramento-Roseville-Folsom metro, the property benefits from neighborhood-level occupancy that ranks at the very top among 561 metro neighborhoods, supporting a case for steady tenant retention. Note that this occupancy refers to the neighborhood, not the property.
Livability is mixed: parks score in the top quartile nationally while everyday retail and cafes are limited within the immediate neighborhood. Average school ratings trend on the lower side versus national norms, which may influence unit mix appeal toward workforce and adult households rather than school-driven demand.
From a housing and affordability lens, elevated home values in the neighborhood (above the national median) and a value-to-income profile in the upper national quartile tend to reinforce reliance on rental options. Rent-to-income levels sit near the national middle, suggesting manageable affordability pressure that can aid lease retention and reduce turnover risk.
Tenure patterns signal demand depth: within the immediate neighborhood, the renter-occupied share is lower than the surrounding area, while within a 3-mile radius renters constitute roughly half of housing units. For investors, this contrast indicates a broader catchment of renters nearby even if the block-level mix skews more owner-occupied.
Vintage also matters. Built in 1980, the asset is newer than the neighborhood’s mid-century average, which can position it competitively versus older stock while still meriting targeted system upgrades or common-area refreshes to support rent positioning.
Demographic statistics aggregated within a 3-mile radius show recent population and household growth with further expansion projected over the next five years, pointing to a larger tenant base and support for occupancy stability. Median household incomes in the area have risen meaningfully, which can underpin consistent collections and selective renovation premiums where feasible.
Safety indicators compare favorably to national norms, sitting above the national median for both property and violent offense measures. Within the Sacramento metro, the neighborhood’s crime rank indicates higher reported activity than many peer neighborhoods, so prudent security posture and lighting/access controls remain advisable for asset management.
Trend-wise, recent data show notable improvement in violent-offense rates year over year, which is encouraging from a leasing and retention standpoint. As always, investors should assess property-level measures and monitor submarket trends alongside regional benchmarks.
The area draws from a diversified employment base across healthcare distribution, communications logistics, technology, and paper products manufacturing, supporting workforce housing demand and commute convenience for renters. Notable nearby employers include Cardinal Health, DISH Network Distribution Center, Intel Folsom FM5, International Paper, and Xerox State Healthcare.
- Cardinal Health — healthcare distribution (6.3 miles)
- DISH Network Distribution Center — communications logistics (7.0 miles)
- Intel Folsom FM5 — semiconductor offices (10.3 miles)
- International Paper — paper products (10.9 miles)
- Xerox State Healthcare — healthcare services (11.4 miles)
The investment case centers on occupancy stability, workforce demand drivers, and relative positioning versus older neighborhood stock. Based on CRE market data from WDSuite, the neighborhood posts top-of-metro occupancy, which supports consistent leasing and retention. Elevated local home values versus incomes tend to sustain renter reliance on multifamily, while area rents track near mid-range affordability—favorable for collections and lease management.
Constructed in 1980, the asset should compete well against nearby mid-century properties, with potential to capture value through targeted renovations and operational enhancements. Demographic momentum within a 3-mile radius—rising households and income growth—expands the renter pool, providing a foundation for steady performance if capital planning and amenities are aligned to local expectations.
- Top-of-metro neighborhood occupancy supports leasing stability and retention.
- 1980 vintage provides competitive positioning versus older stock with value-add upside via targeted upgrades.
- Elevated home values reinforce renter demand, aiding pricing power without overextending affordability.
- 3-mile demographic growth and rising incomes broaden the tenant base for sustained occupancy.
- Risks: thinner immediate amenity set and below-metro safety standing require focused asset management and security measures.