| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Poor |
| Demographics | 45th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1321 Santa Clara St, Vallejo, CA, 94590, US |
| Region / Metro | Vallejo |
| Year of Construction | 1972 |
| Units | 35 |
| Transaction Date | 2025-03-11 |
| Transaction Price | $605,500 |
| Buyer | RIPP38 LLC |
| Seller | MICHAEL J RIPPEY REVOCABLE TRUST |
1321 Santa Clara St Vallejo Multifamily Investment
This 35-unit property built in 1972 sits in an urban core neighborhood with 76% renter-occupied housing units, significantly above the metro average and supporting consistent tenant demand.
Located in Vallejo's urban core, this neighborhood ranks in the top 16% among the metro's 98 neighborhoods with an A rating. The area features exceptional amenity density, ranking 1st metro-wide for grocery stores with 10.8 per square mile and 3rd for restaurants with 29.4 per square mile, supporting strong tenant retention through walkable convenience.
The neighborhood maintains a 76% renter-occupied housing unit share, ranking 1st in the metro and 98th percentile nationally, indicating deep rental demand fundamentals. With a median household income of $47,958 within a 3-mile radius and contract rent medians at $1,311 neighborhood-wide, the rent-to-income ratio of 0.33 suggests manageable affordability for tenants, though this ranks in the bottom quartile nationally.
Demographics within the 3-mile radius show steady population growth of 1.2% over five years, with household formation increasing 5.5% and forecast to accelerate 32.7% through 2028, expanding the potential renter pool. The property's 1972 construction year aligns with the neighborhood's 1941 average vintage, indicating potential value-add opportunities through targeted renovations and modernization.
Home values averaging $538,359 with 99% five-year appreciation reinforce rental demand by maintaining elevated ownership costs. This dynamic, combined with the neighborhood's 90.7% occupancy rate, supports lease retention and absorption stability for multifamily operators.
Crime metrics indicate areas for consideration, with the neighborhood ranking 94th among 98 metro neighborhoods for overall crime, placing it in the 13th percentile nationally. Property offense rates of 2,292 per 100,000 residents rank 89th metro-wide, while violent crime rates show concerning trends with a 670% year-over-year increase, though this may reflect data volatility or reporting changes.
Investors should factor security considerations into property management strategies, including lighting, access controls, and tenant screening protocols. The urban core location provides visibility and foot traffic that can support natural surveillance, while the strong amenity base keeps daily activity concentrated in well-traveled commercial corridors.
The Bay Area's corporate concentration provides diverse employment anchors within commuting distance, supporting workforce housing demand for this Vallejo property.
- Clorox — consumer products (21.2 miles) — HQ
- Salesforce.com — technology services (23.1 miles) — HQ
- Ameriprise Financial — financial services (23.1 miles)
- Gap — retail corporate (23.2 miles) — HQ
- Wells Fargo — banking (23.2 miles) — HQ
This 35-unit property leverages Vallejo's strong rental fundamentals, with the neighborhood's 76% renter-occupied housing share ranking 1st metro-wide and 98th percentile nationally. According to CRE market data from WDSuite, the area's exceptional amenity density and urban core designation support tenant retention, while forecast household growth of 32.7% through 2028 within the 3-mile radius indicates expanding rental demand.
The 1972 construction year presents value-add opportunities through strategic renovations, while elevated home values averaging $538,359 with strong appreciation maintain ownership barriers that sustain rental demand. The property benefits from Bay Area employment proximity, with major corporate headquarters within 25 miles providing workforce housing appeal.
- Top-tier rental market fundamentals with 76% renter occupancy ranking 1st metro-wide
- Exceptional walkable amenities supporting tenant retention and lease-up velocity
- Strong demographic growth with 32.7% forecast household increase through 2028
- Value-add potential through modernization of 1972-vintage units
- Risk consideration: Crime metrics rank below metro average, requiring enhanced security protocols