| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 48th | Fair |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9150 Waterman Rd, Elk Grove, CA, 95624, US |
| Region / Metro | Elk Grove |
| Year of Construction | 2007 |
| Units | 84 |
| Transaction Date | 2006-07-14 |
| Transaction Price | $1,491,500 |
| Buyer | LA AMISTAD ELK GROVE INVESTORS |
| Seller | CASILLAS DAVID J |
9150 Waterman Rd Elk Grove Multifamily Investment
Neighborhood occupancy is exceptionally tight and has held firm relative to the metro, according to WDSuite’s CRE market data, signaling durable leasing for well-positioned assets. These metrics reflect the surrounding neighborhood rather than the property itself.
Located in Elk Grove’s inner-suburban fabric of the Sacramento-Roseville-Folsom metro, the neighborhood is rated A- and sits above the metro median (ranked 98 of 561 neighborhoods), supporting an investor case centered on occupancy stability and steady renter demand. Median contract rents in the area track above national norms (upper quintile nationally), while rent-to-income levels suggest manageable affordability pressure that can aid retention and reduce turnover volatility.
Local livability features are a mixed but investable profile for multifamily. Parks, restaurants, and pharmacies index above national averages, helping with day-to-day convenience and resident appeal. However, grocery access is thinner within the neighborhood boundary, which may shift some shopping to nearby corridors; owners can offset with resident services and partnerships to maintain retention.
Schools average around mid-to-above national performance, which supports family renter appeal typical of Elk Grove. The neighborhood’s renter-occupied share is below half, indicating a primarily owner-occupied area; in investor terms, this points to a moderate but stable renter pool rather than a highly transient base.
Demographics aggregated within a 3-mile radius show modest population growth and a faster pace of household formation over the past five years, with additional gains projected by 2028. This trajectory implies a gradually expanding tenant base for professionally managed assets and supports occupancy durability versus more volatile urban submarkets. Elevated home values compared with national benchmarks reflect a high-cost ownership market, which can reinforce renter reliance on multifamily housing and support pricing power when paired with consistent operations.
Neighborhood safety indicators compare favorably in a national context, with overall crime levels scoring in the top quartile nationally based on WDSuite’s data. Recent trends point to meaningful year-over-year reductions in both property and violent offense estimates, which strengthens the case for lease retention and lowers operating risk compared with weaker-performing submarkets. These figures reflect neighborhood conditions rather than property-specific security.
Proximity to regional employers supports commute convenience and a diversified renter base, led by distribution, healthcare services, paper/packaging, healthcare IT, and technology operations noted below.
- DISH Network Distribution Center — distribution & logistics (7.4 miles)
- Cardinal Health — healthcare distribution (13.2 miles)
- International Paper — paper & packaging (14.0 miles)
- Xerox State Healthcare — healthcare IT/services (15.9 miles)
- Intel Folsom FM5 — technology & semiconductor operations (18.2 miles)
9150 Waterman Rd offers exposure to an Elk Grove neighborhood with historically tight occupancy and livability strengths that outperform national averages in parks, dining, and daily needs. The 2007 vintage positions the asset as relatively competitive versus older stock, while still allowing for targeted modernization or amenity upgrades to drive rent premiums and extend hold-period performance. Elevated home values and above-national rent levels indicate a high-cost ownership context that can sustain multifamily demand and support pricing discipline.
According to CRE market data from WDSuite, the neighborhood’s occupancy stands at the top of the metro’s range, and 3-mile demographics point to continued population and household growth—signals that underpin tenant-base expansion and leasing stability. Renter concentration is moderate locally, which suggests steady, family-oriented demand rather than heavy turnover—an operating profile that benefits consistent management and resident experience investments.
- Tight neighborhood occupancy supports stable leasing and cash flow resilience.
- 2007 construction offers competitive positioning with value-add or systems refresh upside.
- High-cost ownership market reinforces renter reliance and pricing power for quality operations.
- 3-mile population and household growth expand the tenant base over the medium term.
- Watch items: thinner grocery access within the neighborhood and moderate renter concentration may require enhanced resident services and targeted marketing.