| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 43rd | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 410 Ellesmere Dr, Dixon, CA, 95620, US |
| Region / Metro | Dixon |
| Year of Construction | 1979 |
| Units | 104 |
| Transaction Date | 2012-10-21 |
| Transaction Price | $10,200,000 |
| Buyer | Forselles LLC |
| Seller | Summerfield Apartments LLC |
420 Ellesmere Dr, Dixon CA Multifamily Investment
Neighborhood fundamentals point to steady renter demand and solid occupancy, according to WDSuite’s CRE market data, with a renter base supported by a high-cost ownership market and consistent leasing performance in this inner-suburban pocket.
Located in Dixon within the Vallejo, CA metro, the neighborhood carries an A- rating and ranks 23 out of 98 metro neighborhoods, indicating performance that is competitive among Vallejo neighborhoods. For investors, the combination of stable neighborhood occupancy and a broad renter base suggests dependable demand drivers rather than reliance on a single catalyst.
Livability is supported by everyday conveniences: grocery and pharmacy access track in the top decile nationally, while restaurant density is also strong. Café and park densities are limited, which may temper certain lifestyle appeal, but the overall amenity mix covers core daily needs that matter for retention and leasing.
Renter-occupied share in the neighborhood is roughly half of housing units, indicating a deep tenant pool and diversified demand for multifamily. Neighborhood occupancy is 94.7% (neighborhood figure, not property-specific), which supports leasing stability. With a rent-to-income ratio near 0.20 in neighborhood data, pricing power should be managed thoughtfully to preserve retention while capturing market rent.
Home values trend elevated for the area, reinforcing renter reliance on multifamily housing and supporting sustained demand. Average school ratings are on the low side relative to national benchmarks, which may modestly influence family renter preferences; positioning and amenity programming can help mitigate this. Construction vintage skews slightly newer in the neighborhood (average 1984), and a 1979 asset can compete with targeted renovations and systems upgrades to align with renter expectations.
Demographics within a 3-mile radius show modest recent population growth alongside a larger increase in households, pointing to smaller household sizes and a widening renter pool. Forecasts indicate further gains in households over the next five years, which can expand the tenant base and support occupancy over the hold period.
Safety indicators are mixed when viewed across geographies. Within the Vallejo metro (98 neighborhoods), the neighborhood’s crime rank suggests higher incident levels than many peers. Nationally, overall conditions sit around the mid-range, and recent trend data show meaningful improvement.
According to WDSuite’s CRE market data, estimated violent offense rates declined by approximately 33% year over year, and property offenses fell by roughly 27% year over year. These directional trends are constructive for long-term operations, though underwriting should still incorporate prudent security, lighting, and access-control planning consistent with submarket norms.
The area draws from a diversified employment base across healthcare administration, packaging, medical distribution, distribution logistics, and semiconductor offices, supporting workforce renter demand and commute convenience for multifamily residents.
- Xerox State Healthcare — healthcare administration (17.0 miles)
- International Paper — packaging & paper products (17.2 miles)
- Cardinal Health — medical distribution (21.8 miles)
- DISH Network Distribution Center — distribution logistics (24.3 miles)
- Intel Folsom FM5 — semiconductor offices (37.9 miles)
420 Ellesmere Dr is a 1979-vintage, 104-unit multifamily asset positioned in a neighborhood that ranks competitively within the Vallejo metro. Elevated home values in the area reinforce sustained rental demand, while neighborhood occupancy of 94.7% (neighborhood metric) supports expectations for leasing stability. The slightly older vintage relative to the 1984 neighborhood average points to value-add potential through targeted interior updates and modernization of building systems to strengthen competitive positioning.
Demographics within a 3-mile radius show a growing household base and projections for further expansion, indicating renter pool growth that can support stable occupancy and steady absorption. According to CRE market data from WDSuite, neighborhood rent-to-income levels sit near prudent thresholds, suggesting room for disciplined revenue management without unduly pressuring retention in this inner-suburban location.
- Occupancy stability at the neighborhood level supports consistent leasing performance
- High-cost ownership market reinforces rental demand and tenant retention
- 1979 vintage offers value-add and systems-upgrade upside versus newer local stock
- 3-mile household growth and projected expansion broaden the tenant base over time
- Risks: lower average school ratings and concentrated crime relative to some metro peers warrant underwriting for security and family-amenity strategy