| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 24th | Poor |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1111 Alaska Ave, Fairfield, CA, 94533, US |
| Region / Metro | Fairfield |
| Year of Construction | 1974 |
| Units | 110 |
| Transaction Date | 2017-10-27 |
| Transaction Price | $14,700,000 |
| Buyer | VA7 PARK VIVA LLC |
| Seller | PARK VIVA APARTMENTS LLC |
1111 Alaska Ave, Fairfield CA Multifamily Investment
Neighborhood fundamentals point to stable renter demand and sustained occupancy, according to WDSuite’s CRE market data, with a deep renter-occupied base supporting leasing resilience.
Situated in Fairfield’s inner-suburban fabric of the Vallejo metro, the property benefits from a renter-occupied share of housing units near six in ten in the neighborhood (renter concentration, not property-specific), indicating a sizable tenant base and demand depth for multifamily. Neighborhood occupancy trends are stronger than much of the nation (top quartile nationally by percentile), supporting leasing stability for larger properties.
Daily needs are well covered: neighborhood amenity density ranks competitive among 98 Vallejo-area neighborhoods, with exceptionally strong food-and-beverage options (restaurants and cafes rank at or near the top locally) and grocery and pharmacy access above metro norms. Park access is limited within the neighborhood, which may modestly affect open-space appeal, but the broader inner-suburban setting still offers convenient retail and services.
The neighborhood’s median home values are elevated versus many U.S. areas, which tends to reinforce renter reliance on multifamily and can aid retention and pricing power when managed thoughtfully. Rent-to-income levels track near mid-20% in neighborhood data, suggesting affordability pressure should be monitored but does not preclude stable occupancy when paired with disciplined lease management.
Construction stock in the area skews slightly newer than this asset’s 1974 vintage (neighborhood average is early 1980s), pointing to potential value-add via interior modernization and capital planning on aging systems to maintain competitiveness against newer product. Demographic statistics aggregated within a 3-mile radius show households are projected to expand meaningfully over the next five years, indicating a larger renter pool and supporting forward leasing demand, based on CRE market data from WDSuite.
Neighborhood safety metrics sit below national norms, with crime levels closer to the higher end of the Vallejo metro (relative to 98 neighborhoods). However, recent trend data indicates year-over-year improvement, with both violent and property offense rates declining, which investors can track for momentum and risk management.
In practical terms, this profile calls for realistic underwriting on security measures and tenant screening, while recognizing that improving trends can support leasing stability if sustained. Positioning and on-site operations should be calibrated to the submarket’s comparative risk profile rather than block-level assumptions.
Access to a broad Bay Area employment base supports renter demand and retention, with commutes to nearby corporate offices including International Paper, Xerox State Healthcare, Clorox, Chevron, and Salesforce.com.
- International Paper — corporate offices (34.2 miles)
- Xerox State Healthcare — corporate offices (34.3 miles)
- Clorox — corporate offices (34.6 miles) — HQ
- Chevron — corporate offices (35.7 miles) — HQ
- Salesforce.com — corporate offices (38.1 miles) — HQ
This 110-unit, 1974-vintage asset sits in a neighborhood with above-national occupancy by percentile and a high renter-occupied share, supporting depth of demand and leasing durability. Elevated ownership costs in the area tend to sustain renter reliance on multifamily, while 3-mile household projections indicate meaningful growth ahead — factors that can underpin steady absorption and retention when paired with disciplined operations.
The 1974 construction suggests actionable value-add through modernization and systems upgrades to stay competitive with slightly newer neighborhood stock. According to CRE market data from WDSuite, neighborhood rent levels and occupancy have trended favorably versus national benchmarks, though investors should balance pricing power ambitions with rent-to-income considerations and localized safety dynamics.
- Deep neighborhood renter base and nationally strong occupancy support demand stability
- 1974 vintage offers clear renovation and operational value-add levers
- Elevated home values reinforce renter reliance, aiding retention and pricing power
- Risks: comparatively high neighborhood crime and limited parks require prudent underwriting and asset positioning