| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 69th | Best |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2999 N Texas St, Fairfield, CA, 94533, US |
| Region / Metro | Fairfield |
| Year of Construction | 1981 |
| Units | 112 |
| Transaction Date | 1996-07-30 |
| Transaction Price | $600,500 |
| Buyer | FAIRFIELD NORTH TEXAS ASSOCIATES LP |
| Seller | NORTH FAIRFIELD |
2999 N Texas St, Fairfield CA Multifamily Investment
This inner-suburb location shows a solid renter base and a high-cost ownership market that tends to sustain multifamily demand, according to WDSuite’s CRE market data.
Situated in Fairfield’s inner suburbs of the Vallejo metro, the neighborhood rates well overall (A) and is competitive among Vallejo neighborhoods for daily needs access. Restaurant and grocery density trends above national midpoints, while parks and pharmacies register in higher national percentiles, supporting everyday livability for residents and on-site retention strategies.
The area’s renter concentration is 44.4% of housing units being renter-occupied, indicating a deep tenant base for multifamily leasing. At the same time, neighborhood occupancy trends have been below the metro median in recent years, suggesting sponsor focus on leasing execution, unit turns, and renewal management will matter for performance versus pro forma.
Within a 3-mile radius, demographics indicate a broadly stable population in recent years with a projected increase ahead. Forecasts point to population growth and a notable increase in households by 2028, which implies a larger tenant base and support for occupancy stability as new renters enter the market. Household incomes have trended upward, reinforcing the area’s capacity to support market-rate product.
Median home values in the neighborhood sit at elevated levels compared to national benchmarks, and the value-to-income ratio ranks near the top nationally. In practice, this high-cost ownership market tends to reinforce long-term reliance on rental housing, which can aid lease retention and pricing power when managed carefully.
The property’s 1981 vintage is slightly older than the neighborhood’s average construction year, creating a straightforward value-add path via renovations and system upgrades, and a need for disciplined capital planning to remain competitive against newer stock.
Safety indicators for this neighborhood trail metro and national averages, with crime metrics placing the area in lower national percentiles. Recent trends are mixed: violent offense rates have eased slightly year over year, while property-related incidents have risen modestly. For investors, underwriting should incorporate active security measures, lighting and access controls, and resident engagement to support retention.
Relative positioning within the Vallejo metro suggests conditions are below the metro median rather than a top-quartile profile. Operators with proven protocols can often stabilize perception and outcomes over time, but carrying prudent reserves and aligning with insurance requirements remains advisable.
Commuting reach connects residents to a diversified employment base, supporting renter demand and retention from manufacturing, healthcare administration, and consumer goods. The list below reflects nearby employers that align with typical resident commute patterns.
- International Paper — packaging manufacturing (33.3 miles)
- Xerox State Healthcare — healthcare administration services (33.4 miles)
- Clorox — consumer products (35.6 miles) — HQ
- Chevron — energy corporate offices (36.5 miles) — HQ
- Cardinal Health — medical distribution (37.8 miles)
This 112-unit asset offers exposure to a renter-oriented Fairfield location where elevated ownership costs and a sizable renter-occupied share underpin demand. Neighborhood occupancy has trended below the metro median, placing emphasis on hands-on management, renewals, and unit turns to achieve steady performance. According to CRE market data from WDSuite, local amenity access is competitive for daily needs, which can aid leasing and retention even as operators navigate mixed safety indicators.
The 1981 vintage positions the property for a pragmatic value-add program—interior upgrades and targeted system improvements—to compete with slightly newer stock. Within a 3-mile radius, forecasts indicate population growth and a notable increase in households over the next five years, pointing to renter pool expansion that can support occupancy stability and NOI over time, provided affordability is managed thoughtfully.
- Deep renter base in a high-cost ownership market supports long-term multifamily demand.
- Competitive daily-needs amenity access aids leasing velocity and renewals.
- 1981 vintage allows clear value-add and capital planning to raise competitive positioning.
- 3-mile forecasts show population and household growth, expanding the tenant base.
- Key risks: below-metro occupancy trends, affordability pressure, and safety perception require active management.