| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Fair |
| Demographics | 28th | Poor |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10515 Mills Tower Dr, Rancho Cordova, CA, 95670, US |
| Region / Metro | Rancho Cordova |
| Year of Construction | 1974 |
| Units | 64 |
| Transaction Date | 2013-02-28 |
| Transaction Price | $1,325,000 |
| Buyer | MMM MILLS TOWERS LLC |
| Seller | PARKWEST LP |
10515 Mills Tower Dr Rancho Cordova Multifamily Investment
Neighborhood occupancy has remained resilient, supporting steady leasing dynamics according to WDSuite s CRE market data; this view reflects neighborhood conditions rather than the specific property.
Located in Rancho Cordova within the Sacramento-Roseville-Folsom metro, the area surrounding 10515 Mills Tower Dr exhibits demand characteristics that favor multifamily stability. Neighborhood occupancy is strong (top quartile nationally), indicating a relatively tight rental market at the neighborhood level. Renter-occupied housing represents roughly two-fifths of units in the neighborhood, signaling a meaningful tenant base that can support leasing continuity for mid-sized communities.
Local amenity access is a relative strength within the metro: cafes and grocery options rank competitive among 561 Sacramento-area neighborhoods, helping daily convenience and supporting renter retention. Broader amenity density is closer to the metro median, and green space access appears limited within the dataset, which investors may weigh when positioning the asset for households seeking outdoor amenities.
Within a 3-mile radius, population and household counts have risen over the past five years with further growth forecast, expanding the potential renter pool. Median household incomes in the 3-mile area have trended higher, while neighborhood rent-to-income levels remain manageable, which can support lease retention and measured rent growth. Elevated ownership costs relative to incomes at the neighborhood level tend to sustain reliance on rental housing, reinforcing multifamily demand.
The property s 1974 vintage is newer than the neighborhood s average construction year, offering relative competitiveness versus older local stock; however, investors should plan for ongoing system updates and targeted renovations to maintain positioning and capture value-add upside as the submarket evolves.
Safety indicators for the neighborhood are mixed relative to the region and nation. Compared with the 561 neighborhoods across the Sacramento metro, safety ranks below the metro median, and national standing sits below the nationwide median as well. At the same time, property offense rates have improved year over year, declining faster than many U.S. neighborhoods, while violent offense trends have not improved at the same pace. Investors should underwrite with these dynamics in mind and consider operational measures that support resident comfort and retention.
The workforce base includes distribution, technology, healthcare services, and manufacturing, supporting renter demand through diverse employment and reasonable commutes to nearby employers listed below.
- DISH Network Distribution Center distribution & logistics (6.3 miles)
- Intel Folsom FM5 semiconductor offices (8.0 miles)
- Cardinal Health medical distribution (8.9 miles)
- International Paper paper manufacturing (13.2 miles)
- Xerox State Healthcare healthcare services (14.1 miles)
This 64-unit, 1974-vintage community benefits from a neighborhood with solid occupancy and a meaningful share of renter-occupied housing, supporting day-to-day leasing stability. Within a 3-mile radius, population and household growth past and projected add depth to the renter pool, while a manageable rent-to-income environment supports retention and measured pricing power. Elevated ownership costs relative to local incomes further sustain rental demand. According to CRE market data from WDSuite, neighborhood amenity access is competitive for daily needs, which can aid retention, though limited park access may influence positioning for outdoor-focused households.
The asset s vintage is newer than the area s typical housing stock, offering an edge over older properties; however, prudent capital planning for system upgrades and targeted renovations remains important. Safety metrics trail metro averages despite recent improvements in property offenses, so operators should align security, lighting, and community engagement to support resident satisfaction.
- Tight neighborhood occupancy and meaningful renter concentration support leasing stability
- 3-mile population and household growth expand the tenant base and support absorption
- Ownership remains relatively high-cost, reinforcing reliance on rental housing
- 1974 vintage offers value-add potential through targeted modernization
- Risks: safety ranks below metro averages and limited parks; budget for operations and improvements