| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 21st | Poor |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1990 Grande Cir, Fairfield, CA, 94533, US |
| Region / Metro | Fairfield |
| Year of Construction | 1972 |
| Units | 41 |
| Transaction Date | 2020-04-23 |
| Transaction Price | $7,429,500 |
| Buyer | 1990 GRANDE CIRCLE LLC |
| Seller | HOVDE TODD J |
1990 Grande Cir Fairfield Multifamily Investment
This 41-unit property built in 1972 offers value-add potential in a neighborhood where 43% of housing units are renter-occupied. According to WDSuite's CRE market data, the area shows strong rental fundamentals with above-average NOI per unit performance relative to metro comparables.
The Fairfield neighborhood demonstrates solid rental market fundamentals, ranking above metro median among 98 neighborhoods in the Vallejo metro area for housing metrics. With 43% of housing units renter-occupied, the area maintains a substantial tenant base that supports multifamily demand. Neighborhood-level occupancy stands at 91%, though this reflects a modest decline from prior years that warrants monitoring for lease management considerations.
Demographic data aggregated within a 3-mile radius shows a population of approximately 90,000 with projected growth of 9% through 2028, supporting an expanding renter pool. Household growth is expected to increase by 35% over the same period, indicating strengthening rental demand fundamentals. The area's median household income of $89,000 provides reasonable affordability cushion, with rent-to-income ratios remaining manageable for tenant retention.
The property's 1972 construction year aligns with neighborhood averages, presenting potential value-add opportunities through strategic renovations and unit improvements. Home values averaging $425,000 reinforce rental demand by maintaining elevated ownership costs that keep households in the multifamily market. The neighborhood offers strong amenity density with top-quartile access to parks and grocery stores, supporting tenant appeal and retention rates.
The neighborhood's safety profile ranks in the middle tier among Vallejo metro area neighborhoods, with crime metrics showing recent improvement trends. Property crime rates have declined 21% year-over-year, while violent crime has decreased 30% during the same period, indicating positive directional momentum for the area.
While crime levels remain above national averages, the consistent downward trajectory suggests improving conditions that could support tenant retention and property values over time. Investors should monitor these trends as part of ongoing asset management and consider security enhancements as value-add opportunities.
The Bay Area's employment base provides substantial workforce housing demand, with major corporate employers within commuting distance supporting rental stability. Key anchor employers include technology, consumer goods, and financial services companies that maintain significant regional operations.
- International Paper — manufacturing (33.0 miles)
- Xerox State Healthcare — healthcare technology (33.2 miles)
- Clorox — consumer goods (34.9 miles) — HQ
- Chevron — energy (35.0 miles) — HQ
- Cardinal Health — healthcare distribution (37.5 miles)
This Fairfield property presents a compelling value-add opportunity in a market with strong rental fundamentals and demographic tailwinds. The 1972 vintage offers renovation upside potential, while the neighborhood's 43% renter-occupied housing base and projected household growth of 35% through 2028 support long-term demand stability. Commercial real estate analysis indicates above-average NOI performance relative to metro comparables, suggesting effective rent collection and operational efficiency.
The Bay Area employment corridor provides workforce housing demand, with major corporate employers within reasonable commuting distance. Declining crime rates and strong amenity access enhance tenant appeal, while elevated home ownership costs maintain rental market depth by keeping households in multifamily housing.
- Value-add potential through strategic renovations of 1972-vintage units
- Projected 35% household growth supporting rental demand expansion
- Above-average NOI performance relative to metro comparables
- Strong amenity access with top-quartile park and grocery density
- Risk: Recent occupancy decline requires active lease management attention