| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Fair |
| Demographics | 51st | Fair |
| Amenities | 24th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4247 Hackberry Ln, Carmichael, CA, 95608, US |
| Region / Metro | Carmichael |
| Year of Construction | 1978 |
| Units | 84 |
| Transaction Date | 2006-02-27 |
| Transaction Price | $7,381,500 |
| Buyer | LeFever Mattson, Inc. |
| Seller | Carmichael Gardens, LLC |
4247 Hackberry Ln Carmichael Multifamily Investment
This 84-unit property built in 1978 serves a stable rental market with above-average renter demand, according to CRE market data from WDSuite showing 82% of neighborhood housing units are renter-occupied.
The Carmichael neighborhood presents an established inner suburban rental market with demographic stability supporting long-term tenant demand. Within a 3-mile radius, the area maintains 47.9% renter-occupied housing units, indicating solid rental demand fundamentals. Median household income of $82,800 provides adequate rent-paying capacity, while projected household growth of 35.7% through 2028 suggests expanding tenant pools.
Built in 1978, this property aligns with the neighborhood's average construction year, indicating consistent building stock without significant vintage disadvantages. The area ranks above metro median for housing metrics among 561 Sacramento metro neighborhoods, while maintaining competitive demographics with 27.9% of residents holding bachelor's degrees. Contract rents at $1,379 median reflect moderate pricing relative to household incomes.
Neighborhood-level occupancy of 87.8% trails metro averages, presenting potential lease-up considerations for investors. However, the area benefits from essential amenities including 1.66 grocery stores per square mile, ranking in the 80th percentile nationally for grocery access. Limited recreational amenities may impact tenant retention, with minimal parks, cafes, and childcare facilities within the immediate area.
Home values averaging $527,139 create elevated ownership costs that sustain rental demand, as higher purchase prices limit accessibility to homeownership for many households. The rent-to-income ratio of 0.20 suggests manageable affordability for current tenant base, supporting lease retention potential in this established Sacramento submarket.
Property crime rates in the neighborhood show 129 incidents per 100,000 residents annually, ranking in the 63rd percentile nationally among comparable neighborhoods. Recent trends indicate improvement, with property crime declining 46.2% year-over-year, placing the area in the 86th percentile for crime reduction nationwide.
Violent crime rates of approximately 60 incidents per 100,000 residents position the neighborhood near regional medians among Sacramento metro's 561 neighborhoods. However, violent crime increased 67.3% over the past year, ranking below average for crime trend improvement. Investors should monitor ongoing safety trends as part of tenant retention and leasing velocity considerations.
The Sacramento metro employment base includes several major corporate employers within reasonable commuting distance, supporting workforce housing demand for multifamily properties.
- Cardinal Health — healthcare distribution (7.7 miles)
- DISH Network Distribution Center — telecommunications distribution (8.2 miles)
- Intel Folsom FM5 — technology manufacturing (9.0 miles)
- International Paper — manufacturing (12.3 miles)
- Xerox State Healthcare — business services (12.8 miles)
This 84-unit Carmichael property offers value-add potential in a stable Sacramento submarket with expanding household formation. Built in 1978, the vintage presents renovation upside opportunities while avoiding the capital expenditure requirements of significantly older properties. Projected household growth of 35.7% through 2028 within the 3-mile radius supports expanding tenant demand, while elevated home values sustaining rental reliance provide occupancy stability fundamentals.
The neighborhood's 82% renter-occupied housing units indicate strong rental market fundamentals, though below-average occupancy rates of 87.8% suggest the need for active lease management and potential unit improvements. Moderate rent-to-income ratios of 0.20 support tenant affordability while providing room for strategic rent optimization as market conditions improve.
- Strong rental demand with 82% renter-occupied neighborhood housing units
- Projected 35.7% household growth through 2028 expanding tenant base
- 1978 vintage offers value-add renovation potential without excessive CapEx needs
- Elevated home values sustain rental demand fundamentals
- Risk: Below-average neighborhood occupancy requires active lease management