| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 55th | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9504 Elk Grove Florin Rd, Elk Grove, CA, 95624, US |
| Region / Metro | Elk Grove |
| Year of Construction | 1977 |
| Units | 33 |
| Transaction Date | 2018-10-17 |
| Transaction Price | $135,762 |
| Buyer | LEON WENDELL HACKETT JR BYPASS TRUST |
| Seller | KATHRYN AMY HENDRICKS EXEMPT TRUST |
9504 Elk Grove Florin Rd Elk Grove Multifamily Value-Add
Neighborhood occupancy is elevated and renter demand is supported by strong household incomes, according to WDSuite 0s CRE market data. This submarket d4s stability points to steady operations while the 1977 vintage may offer modernization upside.
Located in Elk Grove within the Sacramento-Roseville-Folsom metro, the neighborhood scores in the top quartile among 561 metro neighborhoods on overall quality (A rating), signaling balanced fundamentals for workforce and middle-income renters. Amenities are a local strength: restaurants and cafes rank competitively (both near the top of the metro distribution), and pharmacy access is also strong, while park access is limited. Average school ratings trend above many peer areas in the metro.
Operationally, neighborhood occupancy is 96.1% and sits above the metro median, supporting expectations for leasing stability. Median contract rents and home values benchmark above national norms, and the area d4s high-cost ownership market can reinforce reliance on multifamily housing, which can aid retention and pricing discipline for well-managed assets.
Vintage context matters: the neighborhood d4s average construction year skews newer (2005; top quartile locally), while the subject property d4s 1977 construction suggests potential value-add through unit upgrades, system modernization, and curb appeal to compete with newer stock.
Within a 3-mile radius, population and households have grown over the last five years, with forecasts indicating further expansion and income gains by 2028. This trend implies a larger tenant base and supports occupancy resilience; higher incomes alongside rising rents point to manageable affordability pressure that owners should monitor via disciplined lease management and commercial real estate analysis. Renter-occupied housing share at the neighborhood level is roughly one-third, indicating a meaningful but not saturated renter pool.
Safety indicators compare favorably at the national level: property offenses are in a high national safety percentile and violent offenses are also better than the national midpoint. Recent trend data shows notable year-over-year declines in both property and violent offenses, which is constructive for tenant retention and long-term operations.
As with any infill suburban location, conditions can vary by block and over time. Investors should underwrite with current local data, focus on visibility and lighting, and consider security features that match the tenant profile and asset positioning.
Proximity to logistics, healthcare, and tech-adjacent employers supports commute convenience and a diversified renter pipeline for the neighborhood. Key nearby employers include DISH Network Distribution, Cardinal Health, International Paper, Xerox State Healthcare, and Intel.
- DISH Network Distribution Center distribution (8.1 miles)
- Cardinal Health healthcare distribution (13.5 miles)
- International Paper packaging & paper (13.9 miles)
- Xerox State Healthcare healthcare IT services (15.8 miles)
- Intel Folsom FM5 semiconductors (19.4 miles)
This 33-unit, 1977-vintage property sits in a top-quartile neighborhood within the Sacramento-Roseville-Folsom metro, with occupancy above the metro median and a renter base supported by higher regional incomes. Elevated ownership costs locally tend to sustain rental demand and help stabilize lease-up and renewals. The older vintage relative to the area d4s newer stock creates a clear value-add path through interiors, exteriors, and building systems to sharpen competitive positioning and support rent growth over time.
Population and household growth within a 3-mile radius, alongside projected income gains and rent growth through 2028, point to a larger tenant base and continued demand for well-managed units. According to CRE market data from WDSuite, amenity access is strong (food/pharmacy) though park access is limited, suggesting operators should emphasize on-site offerings and nearby retail convenience in marketing and retention strategies.
- Above-metro occupancy with strong neighborhood fundamentals supports leasing stability
- 1977 vintage offers value-add potential to compete with newer local inventory
- High-cost ownership market reinforces renter reliance on multifamily housing
- Growing 3-mile population and household counts expand the tenant base
- Risks: limited park access and an owner-leaning area require targeted positioning and amenity strategy