| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 53rd | Fair |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9170 Seville Ln, Atascadero, CA, 93422, US |
| Region / Metro | Atascadero |
| Year of Construction | 2006 |
| Units | 74 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
9170 Seville Ln Atascadero Multifamily Investment
Neighborhood occupancy trends remain elevated and renter-occupied share is strong in this Inner Suburb location, according to WDSuite’s CRE market data, pointing to resilient demand drivers rather than property-specific assumptions.
Located in Atascadero within the San Luis Obispo–Paso Robles metro, the neighborhood rates A and is competitive among metro peers, ranking 10 out of 81 neighborhoods. Local occupancy is in the top quartile among metro neighborhoods, a positive indicator for lease stability and pricing discipline at the neighborhood level rather than this specific asset.
2006 construction positions the property newer than the neighborhood’s average vintage (1996). For investors, this generally supports competitive positioning versus older stock while still warranting selective modernization over the hold period to elevate finishes and systems as needed.
Renter-occupied housing accounts for a majority share at the neighborhood level (about 57%), reinforcing depth of the tenant base and supporting demand for multifamily units. Within a 3-mile radius, households have grown modestly even as population edged lower, indicating smaller household sizes and a stable to expanding renter pool; five-year projections point to additional household growth, which can support occupancy and absorption. Median contract rents in the neighborhood sit in the upper tiers of the metro and have trended upward over five years, with projections indicating continued rent pressure; investors should plan leasing strategies that balance growth with retention.
Daily-needs access is a relative strength: grocery, restaurants, cafes, childcare, and pharmacies rank in or near the top quartile among 81 metro neighborhoods. The amenity mix supports renter convenience and leasing velocity, though limited park density and below-average school ratings (neighborhood average around the lower end of the scale) may modestly temper appeal for some family renters.
Home values are elevated for the neighborhood relative to national benchmarks, and the value-to-income ratio ranks in the upper percentiles nationally. This high-cost ownership landscape tends to keep more households in rental housing, which can aid tenant retention and duration. At the same time, the neighborhood’s rent-to-income ratio is comparatively manageable, helping mitigate affordability pressure and supporting renewal performance.
Safety indicators are mixed but improving. The neighborhood’s overall crime rank sits around the metro middle (48 out of 81), with national comparisons near the midpoint for violent offenses and weaker for property offenses. Recent year-over-year trends show declines in both violent and property offense rates, which is a constructive direction for long-term leasing and retention, though investors should still underwrite to average regional risk and standard security measures.
This 74-unit, 2006-vintage asset benefits from a neighborhood that ranks 10 of 81 metro areas and maintains top-quartile occupancy, supporting steady leasing dynamics. The local renter-occupied share above 50% points to a sizable tenant base, while elevated home values and a high value-to-income ratio reinforce reliance on rental housing. Within a 3-mile radius, households have increased and are projected to grow further, indicating a larger renter pool and support for occupancy stability. According to commercial real estate analysis from WDSuite, neighborhood-level rents and NOI per unit performance rank above most metro neighborhoods, aligning with a case for disciplined rent growth rather than outsized assumptions.
Being newer than the neighborhood average, the property is positioned to compete against older stock, with targeted renovations offering upside during the hold period. Key watch items include modest safety readings around the metro average and lower school ratings, which warrant measured underwriting and resident-experience initiatives.
- Top-quartile neighborhood occupancy and strong renter concentration support demand durability.
- 2006 vintage offers competitive positioning versus older stock, with value-add potential via selective upgrades.
- High-cost ownership market favors rental retention; rent-to-income levels remain comparatively manageable.
- 3-mile households are growing, expanding the prospective renter base and supporting occupancy stability.
- Risk: safety sits near the metro median and school ratings are lower; underwrite to average regional risk and retention-focused operations.