| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 51st | Fair |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4729 Manzanita Ave, Carmichael, CA, 95608, US |
| Region / Metro | Carmichael |
| Year of Construction | 1976 |
| Units | 70 |
| Transaction Date | 2020-12-01 |
| Transaction Price | $10,900,000 |
| Buyer | 4729 MANZANITA AVENUE HOLDINGS LLC |
| Seller | HILLTOP ASSOCIATES LTD |
4729 Manzanita Ave Carmichael Multifamily Investment
This 70-unit property built in 1976 sits in an A- rated neighborhood with above-average NOI performance and strong rental demand. According to CRE market data from WDSuite, the area maintains 94.9% occupancy rates and benefits from limited café competition while offering strong grocery and childcare access.
The Carmichael neighborhood earns an A- rating, ranking 109th among 561 metro neighborhoods with strong fundamentals across housing and amenities. This inner suburb location provides investors with a balanced rental market where 56.8% of housing units are renter-occupied, ranking in the 92nd national percentile for rental share. The area maintains neighborhood-level occupancy at 94.9%, though down slightly over five years, indicating stable demand with room for active leasing management.
Built in 1976, this property aligns with the neighborhood's average construction year of 1971, suggesting consistent building stock that may present value-add opportunities through strategic renovations and unit improvements. The location offers strong tenant amenities with 2.22 grocery stores per square mile (85th national percentile) and 1.11 childcare facilities per square mile (84th national percentile), supporting family retention. Restaurant density ranks in the 91st percentile nationally at 11.11 per square mile, while the area notably lacks café competition.
Demographics within a 3-mile radius show a stable tenant base with 126,756 residents and moderate growth of 5.2% over five years. The area supports rental demand through median household incomes of $81,432, though rent-to-income ratios suggest affordability pressure that requires careful lease management. Home values averaging $456,656 with strong appreciation trends may reinforce renter reliance on multifamily housing, supporting occupancy stability for well-positioned properties.
The neighborhood demonstrates moderate safety metrics with property crime rates of 474 incidents per 100,000 residents, ranking 315th among 561 metro neighborhoods. More encouraging for long-term investment, both property and violent crime rates declined significantly over the past year, with property offenses down 27.7% and violent crimes decreasing 41.7%. These improving trends place the area in the 71st and 82nd national percentiles respectively for crime reduction.
Violent crime remains relatively contained at 52.5 incidents per 100,000 residents, positioning the neighborhood around the metro median for personal safety concerns. The overall crime rank of 196th among metro neighborhoods indicates competitive safety levels that support tenant retention and property values in this Sacramento submarket.
The Carmichael area benefits from proximity to major corporate employers that support workforce housing demand and commute convenience for tenants.
- Cardinal Health — healthcare distribution (8.2 miles)
- Intel Folsom FM5 — technology manufacturing (8.8 miles)
- DISH Network Distribution Center — telecommunications logistics (8.9 miles)
- International Paper — industrial manufacturing (12.8 miles)
This 70-unit Carmichael property offers investors exposure to a Sacramento submarket with demonstrated rental demand and value-add potential. The neighborhood maintains above-average NOI performance at $8,782 per unit, ranking 60th among 561 metro neighborhoods and placing in the 72nd national percentile. Built in 1976, the property presents opportunities for strategic renovations to capture rent premiums in a market where median contract rents reach $1,323.
Demographics within a 3-mile radius support long-term fundamentals with population growth of 5.2% and household income increases of 46.1% over five years. The area's high rental share (92nd national percentile) and strong amenity access create tenant retention advantages, while proximity to major employers including Cardinal Health and Intel provides workforce stability. However, investors should monitor rent-to-income ratios and occupancy trends given recent modest declines in neighborhood-level absorption.
- Strong NOI performance ranking in top 30% of metro neighborhoods
- Value-add potential through strategic renovations of 1976 vintage units
- High rental share market with 94.9% neighborhood occupancy
- Risk consideration: Monitor affordability pressure and recent occupancy softening