| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 33rd | Poor |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2145 Union Ave, Fairfield, CA, 94533, US |
| Region / Metro | Fairfield |
| Year of Construction | 1989 |
| Units | 48 |
| Transaction Date | 1999-04-26 |
| Transaction Price | $3,962,000 |
| Buyer | PETERSON DEVELOPMENT COMPANY |
| Seller | VALERIOTE RICHARD M |
2145 Union Ave Fairfield Multifamily Investment Thesis
Neighborhood fundamentals indicate durable renter demand and high occupancy, according to WDSuite’s CRE market data. A balanced mix of convenience retail and a renter-occupied housing base supports stable operations for investors.
With an A- neighborhood rating and a rank of 19 out of 98 neighborhoods in the Vallejo, CA metro, this Urban Core location sits in the top quartile locally—an attractive signal for multifamily performance relative to the metro. Neighborhood occupancy is strong and ranked 22 of 98 (also top quartile) with a nationally competitive percentile, indicating historically resilient leasing conditions rather than short-term spikes.
Daily convenience is a strength: grocery access ranks 4 of 98 locally (98th percentile nationally), with restaurants also competitive (6 of 98; 96th percentile). Parks and pharmacies post similarly strong showings, adding day-to-day livability that tends to help retention. Café density is limited, but the overall amenity mix remains favorable compared with both metro and national CRE trends.
The renter-occupied share stands at 59.1% (ranked 11 of 98—top quartile), suggesting a deep tenant base and steady demand for professionally managed units. Median contract rents in the neighborhood have risen meaningfully over the past five years, while the median rent-to-income ratio of 0.29 points to some affordability pressure that investors should manage through lease strategies and unit-mix positioning.
Home values trend elevated for the metro (nationally high value-to-income ratio), which typically sustains reliance on rental housing and supports pricing power, especially for well-maintained assets. Average school ratings are below national norms, which may influence unit mix and marketing toward segments less sensitive to school performance. Overall NOI per unit tracks near the national middle, implying execution and operational efficiency are key levers for outperformance.
Safety indicators are mixed and should be underwritten with care. The neighborhood’s overall crime standing ranks 75 out of 98 neighborhoods in the Vallejo metro, placing it below the metro median. Property-related incidents rank 91 of 98, while violent offense ranks 82 of 98—both weaker relative positions locally and below national percentiles. Recent trends show a modest year-over-year reduction in violent offenses alongside a small uptick in property incidents, suggesting conditions are evolving rather than static.
For investors, the takeaway is to incorporate appropriate security measures, staffing, and lighting, and to benchmark performance against comparable Urban Core assets in the metro. Framing safety at the neighborhood level—not the property—helps calibrate expectations on marketing, insurance, and operating expenses.
Regional employment access includes corporate nodes within commuting range that can underpin renter demand and retention, notably International Paper, Xerox State Healthcare, Clorox, Chevron, and Salesforce.
- International Paper — corporate offices (34.1 miles)
- Xerox State Healthcare — corporate offices (34.3 miles)
- Clorox — corporate offices (34.5 miles) — HQ
- Chevron — corporate offices (35.5 miles) — HQ
- Salesforce.com — corporate offices (38.0 miles) — HQ
2145 Union Ave is a 48-unit, 1989-vintage asset positioned in a top-quartile Urban Core neighborhood within the Vallejo, CA metro. The area’s renter-occupied housing share is high and neighborhood occupancy ranks in the top quartile locally, indicating depth of demand and historically stable leasing. Elevated ownership costs for the area tend to sustain reliance on rental housing, while a median rent-to-income ratio near 0.29 suggests investors should plan for affordability-sensitive renewal strategies. Based on CRE market data from WDSuite, amenity access—especially grocery, restaurants, parks, and pharmacies—supports retention relative to metro peers.
Demographic statistics aggregated within a 3-mile radius show households expanding over the last period with projections indicating further growth by 2028, implying a larger tenant base over time. Given the 1989 construction, the property is newer than the neighborhood average housing stock, offering competitive positioning versus older assets; targeted modernization of building systems and interiors can enhance rentability without the full capex profile of much older vintage assets.
- Top-quartile neighborhood and occupancy positioning within the Vallejo metro supports leasing stability.
- High renter-occupied share signals a deep tenant base for multifamily demand.
- Elevated ownership costs reinforce rental demand and pricing power for well-maintained units.
- 1989 vintage offers competitive positioning versus older stock, with value-add potential through selective upgrades.
- Risks: below-metro-average safety indicators and affordability pressure (rent-to-income near 0.29) require prudent operations and resident experience management.