| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Good |
| Demographics | 51st | Fair |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4849 Manzanita Ave, Carmichael, CA, 95608, US |
| Region / Metro | Carmichael |
| Year of Construction | 1989 |
| Units | 92 |
| Transaction Date | 2022-04-28 |
| Transaction Price | $22,350,000 |
| Buyer | TILDEN-BROOKSIDE LLC |
| Seller | BROOKSIDE MANZANITA |
4849 Manzanita Ave Carmichael Multifamily Investment
Neighborhood metrics point to steady renter demand and above-average occupancy for the area, according to WDSuite’s CRE market data. Investor takeaway: this inner-suburban location supports leasing stability while offering potential to capture demand from nearby employment centers.
Located in Carmichael within the Sacramento-Roseville-Folsom metro, the neighborhood rates above the metro median overall (ranked 109 of 561 neighborhoods). Amenity access is competitive among metro peers, with strong proximity to parks, groceries, pharmacies, and restaurants, while cafés are less dense. These local conveniences support renter retention and day-to-day livability relevant to multifamily operations.
For investors focused on income durability, the neighborhood s occupancy measures are favorable: neighborhood occupancy is 94.9% and sits around the 70th percentile nationally. The share of housing units that are renter-occupied is elevated at 56.8% (neighborhood level), indicating a deep tenant base for multifamily product rather than owner-heavy dynamics. NOI per-unit performance is also above national median levels for comparable neighborhoods, reinforcing income potential in line with regional fundamentals.
Vintage considerations: the property s 1989 construction is newer than the neighborhood s average vintage (1971). That positioning typically supports competitive leasing versus older stock, though investors should still plan for targeted system updates and common-area refreshes to maintain curb appeal and reduce near- to mid-term CapEx surprises.
Within a 3-mile radius, population and household counts have grown and are projected to continue expanding over the next five years. Households are expected to increase faster than population, suggesting smaller household sizes and a larger renter pool entering the market factors that can support occupancy stability and renewal rates. Elevated home values relative to incomes in the neighborhood context (high-cost ownership market) tend to reinforce reliance on rental housing, while local rent-to-income readings suggest manageable affordability pressure that supports lease retention with prudent rent management.
Safety indicators trend modestly better than the national middle. The neighborhood s crime profile ranks around the 58th percentile nationally for safety, with metro positioning that is above the median (crime rank 196 among 561 metro neighborhoods). Year-over-year, both violent and property offense estimates show meaningful improvement, placing the one-year declines in the stronger end of national comparisons. Conditions can vary by block and over time, so underwriting should reflect micro-location and ongoing trend monitoring.
Regional employers within commuting range support a diversified workforce tenant base and help underpin leasing stability. Nearby nodes include healthcare distribution, technology, logistics, and paper products operations.
- Cardinal Health healthcare distribution (8.3 miles)
- Intel Folsom FM5 technology & engineering (8.8 miles)
- DISH Network Distribution Center logistics & distribution (9.0 miles)
- International Paper paper & packaging (12.8 miles)
- Xerox State Healthcare healthcare services (13.2 miles)
This 92-unit, 1989-vintage asset benefits from a renter-leaning neighborhood with above-median occupancy and competitive amenity access. The property s newer-than-area vintage positions it well versus older local stock, with scope for targeted updates to enhance durability and operating efficiency. Based on commercial real estate analysis sourced from WDSuite, neighborhood occupancy sits in a nationally strong range and NOI performance trends above the national midpoint, supporting an income-focused thesis.
Within a 3-mile radius, continued population growth and a faster rise in households indicate a growing tenant base and smaller household sizes a setup that typically supports renewal rates and reduces lease-up risk. Elevated ownership costs in the neighborhood context help sustain rental demand, while rent-to-income readings point to manageable affordability pressure if rent growth is paired with disciplined lease management.
- Renter-occupied share is high locally, supporting depth of demand for multifamily units.
- Neighborhood occupancy around the 70th national percentile supports cash flow stability.
- 1989 construction is competitive versus older area stock, with targeted value-add potential.
- 3-mile population and household growth expand the renter pool, aiding retention and leasing.
- Risks: rising operating costs, pockets of crime variation, and CapEx for aging systems despite newer vintage.