| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Fair |
| Demographics | 51st | Fair |
| Amenities | 24th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5738 Windmill Way, Carmichael, CA, 95608, US |
| Region / Metro | Carmichael |
| Year of Construction | 1972 |
| Units | 73 |
| Transaction Date | 2018-10-15 |
| Transaction Price | $9,000,000 |
| Buyer | Cutler Family Properties, LP |
| Seller | Several Parties as Tenants in Common |
5738 Windmill Way Carmichael Multifamily Value-Add Opportunity
According to WDSuite’s CRE market data, the surrounding neighborhood shows a higher share of renter-occupied housing and elevated ownership costs—factors that can support steady tenant demand with disciplined operations.
5738 Windmill Way sits in an inner-suburban Carmichael location within the Sacramento-Roseville-Folsom metro. Neighborhood groceries and everyday retail are accessible (grocery presence ranks above many metro peers), while parks, cafes, childcare, and pharmacies are less concentrated nearby, which places a premium on on-site amenities and resident services for retention, according to WDSuite’s commercial real estate analysis.
Multifamily occupancy in the neighborhood trails the metro median, suggesting leasing requires active management and competitive positioning. At the same time, the share of housing units that are renter-occupied is above national norms, indicating a deeper tenant base for a 73-unit property. Median contract rents in the neighborhood trend above the national median, while still below coastal gateway levels, supporting a pragmatic rent strategy focused on capture and retention rather than outsized premiums.
Home values in the neighborhood sit in a high-cost ownership market relative to national benchmarks, and the value-to-income ratio is elevated—conditions that can reinforce renter reliance on multifamily housing and support pricing power when upgrades add clear utility. The average school rating for nearby schools is lower than national averages; investors should account for this in marketing mix and amenity programming if targeting family renters.
Demographic statistics aggregated within a 3-mile radius indicate recent population and household growth, with households projected to increase further over the next five years. Rising household incomes and forecast rent growth in the radius point to a gradually expanding renter pool that can support occupancy stability, based on CRE market data from WDSuite.
The property’s 1972 vintage is older than the neighborhood’s average construction year. Investors should underwrite near-term capital expenditures and consider value-add renovations to improve unit finishes and systems, which can enhance competitive positioning against newer stock while capturing rent spreads.
Neighborhood safety indicators are above the metro median (ranked better than the midpoint among 561 Sacramento-area neighborhoods), placing the area around mid-pack nationally, based on WDSuite’s CRE market data.
Within that composite, violent-offense metrics track weaker than national averages, while property-offense metrics are comparatively better—and recent year-over-year trends show a notable decline in property incidents. Investors should emphasize standard security practices and lighting/visibility improvements as part of a value-add plan, while recognizing that the area remains broadly competitive among Sacramento neighborhoods.
Proximity to distribution, healthcare, and technology employers supports workforce housing demand and commute convenience for renters. Nearby anchors include Cardinal Health, DISH Network Distribution Center, Intel Folsom FM5, International Paper, and Xerox State Healthcare.
- Cardinal Health — healthcare distribution (8.0 miles)
- DISH Network Distribution Center — logistics/fulfillment (8.6 miles)
- Intel Folsom FM5 — technology/corporate offices (8.9 miles)
- International Paper — packaging/corporate offices (12.6 miles)
- Xerox State Healthcare — healthcare services (13.0 miles)
5738 Windmill Way offers a practical value-add thesis in an inner-suburban Carmichael setting: an older 1972 asset with scale (73 units) in a neighborhood with a higher renter concentration and elevated ownership costs. While neighborhood multifamily occupancy is below the metro median, rent levels are above national medians and the 3-mile radius shows population and household growth—factors that can support demand with disciplined leasing and targeted upgrades.
Home values are high for incomes relative to national benchmarks, reinforcing long-term renter reliance on multifamily. According to CRE market data from WDSuite, groceries are comparatively accessible even as other amenities are thinner, suggesting on-site improvements and resident programming can be differentiators. Investors should underwrite capital projects typical for a 1970s build and align renovation scope with achievable rent lifts and retention.
- Renter-occupied share above national norms supports a deeper tenant base
- 1972 vintage presents clear value-add and systems upgrade opportunities
- High-cost ownership market can sustain rental demand and pricing power
- 3-mile radius shows population and household growth, aiding lease-up/retention
- Risks: below-metro occupancy, thinner amenity mix, and uneven violent-crime indicators