| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 21st | Poor |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1705 Sunset Ave, Fairfield, CA, 94533, US |
| Region / Metro | Fairfield |
| Year of Construction | 1990 |
| Units | 36 |
| Transaction Date | 2021-04-13 |
| Transaction Price | $8,000,000 |
| Buyer | MP SUNSET PINES LLC |
| Seller | CJMC PROPERTIES LLC |
1705 Sunset Ave Fairfield Multifamily Investment
This 36-unit property benefits from above-average NOI performance in a neighborhood with strong rental occupancy and growing household formation, according to CRE market data from WDSuite.
Built in 1990, this property represents established rental housing stock in Fairfield's Urban Core, where neighborhood-level NOI per unit averages $10,220—ranking in the top quartile among 98 metro neighborhoods. The construction vintage aligns with the area's average building age of 1979, providing stable maintenance profiles without immediate capital expenditure concerns.
The surrounding area demonstrates solid rental fundamentals with 43.4% of housing units occupied by renters, supporting consistent tenant demand. Neighborhood occupancy rates of 90.7% reflect market stability, though they have moderated slightly over the past five years. Contract rents average $1,702 with 42.9% growth over five years, indicating sustained pricing power in the local market.
Demographics within a 3-mile radius show a population of 96,110 with moderate household income growth of 61.1% over five years, reaching a median of $87,141. Projected household formation through 2028 anticipates 36.2% growth in total households, expanding the potential renter pool. The area maintains strong amenity access with above-average grocery store and childcare density, supporting tenant retention through convenience factors.
Home values averaging $424,755 with 62.5% appreciation over five years sustain rental demand by limiting homeownership accessibility for many households. This dynamic reinforces multifamily housing reliance and supports lease renewal rates in the submarket.
Safety metrics show mixed trends in this Fairfield neighborhood. Property crime rates of 1,514 incidents per 100,000 residents rank in the lower half among 98 metro neighborhoods, though recent data indicates a 20.8% decline in property offenses year-over-year. Violent crime rates of 302 per 100,000 residents also decreased by 29.5% annually, suggesting improving conditions.
While current crime levels remain above regional averages, the downward trajectory in both property and violent offenses indicates positive momentum that may support tenant retention and property values over time. Investors should monitor these trends as part of ongoing asset management considerations.
The Bay Area's corporate employment base provides workforce housing demand, with major employers including Fortune 500 headquarters within commuting distance.
- International Paper — paper and packaging (33.6 miles)
- Xerox State Healthcare — healthcare technology (33.8 miles)
- Clorox — consumer products — HQ (34.4 miles)
- Chevron — energy — HQ (34.8 miles)
- Salesforce.com — technology — HQ (38.1 miles)
This Fairfield multifamily property offers exposure to a stabilized rental market with demonstrated NOI performance above metro averages. The 1990 construction year provides established building systems without immediate capital intensity, while neighborhood fundamentals show growing household formation and sustained rental demand. Demographic projections indicate 36.2% household growth through 2028, expanding the tenant base within the 3-mile radius.
Home values averaging $424,755 reinforce rental housing reliance, supporting occupancy stability and lease retention. The property benefits from Urban Core amenity access including above-average grocery and childcare density, factors that enhance tenant satisfaction and reduce turnover costs.
- Neighborhood NOI per unit ranks top quartile among 98 metro areas
- Projected 36.2% household growth through 2028 expands renter pool
- Elevated home values sustain rental demand dynamics
- Risk: Crime levels above regional averages require ongoing monitoring