| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Poor |
| Demographics | 51st | Fair |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9621 Webb St, Elk Grove, CA, 95624, US |
| Region / Metro | Elk Grove |
| Year of Construction | 1991 |
| Units | 48 |
| Transaction Date | 2012-06-15 |
| Transaction Price | $1,950,000 |
| Buyer | OAK GROVE APARMENTS LLC |
| Seller | BARRY LONNIE T |
9621 Webb St Elk Grove Multifamily Investment
Neighborhood occupancy trends remain resilient and in the top quartile nationally, supporting stable renter demand in a largely owner-leaning suburban pocket, according to WDSuite’s CRE market data.
Located in suburban Elk Grove within the Sacramento-Roseville-Folsom metro, this 1991-vintage asset competes against an older local housing stock. The newer vintage relative to the area’s 1960s average suggests fewer near-term system obsolescence risks than many nearby properties, while still offering modernization or repositioning potential to enhance rents.
Local livability is anchored by park access and everyday conveniences. Park availability is competitive among Sacramento neighborhoods (ranked well within the top 20% of 561 metro neighborhoods), and restaurants cluster at levels that are also competitive metro-wide. By contrast, cafes, grocery, and pharmacy density are thinner in the immediate area, which may modestly affect walkable retail convenience but is typical for suburban settings.
For investors, the neighborhood’s occupancy rate is strong and places in the top quartile nationally, supporting rent roll durability. The renter-occupied share is modest at the neighborhood level—an owner-leaning profile that can temper the depth of the tenant base but often correlates with steadier household formation and retention. Within a 3-mile radius, demographics show recent population and household growth with higher-income households gaining share, expanding the potential renter pool and supporting lease-up and renewal prospects.
Home values in the area track toward the higher end nationally, indicating a high-cost ownership market. That context typically sustains reliance on rental housing and can support pricing power. At the same time, rent-to-income levels remain manageable for many households, which can aid retention and reduce turnover risk versus more cost-burdened submarkets, based on commercial real estate analysis from WDSuite.
Safety indicators are mixed when viewed across recent periods. Neighborhood data point to a notable year-over-year decline in property-related incidents, while trends in violent incidents have been less favorable. Compared with the wider Sacramento metro, the area is competitive on several safety measures but not uniformly strong across categories. Investors should underwrite with a focus on trend direction and property-level controls (lighting, access, and management practices) rather than any single-year snapshot.
Proximity to logistics, healthcare services, and technology employers supports a diversified renter base and commute convenience for workforce and professional tenants.
- DISH Network Distribution Center — distribution/logistics (8.6 miles)
- Cardinal Health — healthcare services (14.2 miles)
- International Paper — packaging and paper manufacturing (14.8 miles)
- Xerox State Healthcare — healthcare IT services (16.6 miles)
- Intel Folsom FM5 — semiconductor and design (19.3 miles)
This 48-unit, 1991-built property in Elk Grove benefits from strong neighborhood occupancy—top quartile nationally—and an owner-leaning area that can support stable tenancy. The asset’s newer vintage versus much of the surrounding housing stock positions it competitively, with potential for targeted upgrades to capture rent premiums. Within a 3-mile radius, population and household growth alongside higher-income cohorts point to a larger tenant base and support for rent levels and renewal performance.
Elevated home values in the area reinforce reliance on multifamily housing, while rent levels remain generally aligned with incomes, aiding retention. According to CRE market data from WDSuite, local restaurants and parks are competitive among Sacramento neighborhoods, though walkable retail variety is thinner in some categories—an underwriting consideration rather than a core detractor.
- Strong neighborhood occupancy supports rent roll stability and leasing continuity.
- 1991 vintage offers competitive positioning versus older stock with value-add upgrade potential.
- 3-mile demographic growth and higher-income households expand the renter pool.
- High-cost ownership market underpins multifamily demand and pricing power.
- Risks: thinner walkable retail mix and mixed safety trendlines warrant property-level mitigation and prudent underwriting.