| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 66th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1302 Prentice Dr, Healdsburg, CA, 95448, US |
| Region / Metro | Healdsburg |
| Year of Construction | 1977 |
| Units | 23 |
| Transaction Date | 2021-04-21 |
| Transaction Price | $7,000,000 |
| Buyer | MONTE VINA L P |
| Seller | BURBANK HOUSING DEV CORP |
1302 Prentice Dr, Healdsburg CA Multifamily Opportunity
Positioned in a high-cost ownership market, this 23-unit asset benefits from durable renter demand and strong neighborhood amenities, according to WDSuite’s CRE market data.
Healdsburg’s neighborhood context scores an A and ranks 14 out of 138 metro neighborhoods, placing it in the top quartile locally. Amenity access is a core strength: restaurants, grocery, pharmacies, cafes, and childcare all sit in the top quartile among Santa Rosa–Petaluma neighborhoods, supporting everyday convenience and renter appeal. Average school ratings are also top quartile in the metro, which can aid leasing and retention for family-oriented units.
The property’s 1977 vintage is newer than the neighborhood’s average construction year (1965). Investors should plan for ongoing system upgrades and interior refreshes typical for late-1970s buildings, but the asset competes against older stock, creating potential value-add and positioning advantages.
Renter-occupied housing represents roughly half of neighborhood units, indicating a deep tenant base for multifamily. Neighborhood occupancy trends are below the metro median, so operators may need active leasing and renewal strategies to maintain stability. Median contract rents in the area have grown over the last five years, while the rent-to-income ratio sits around one-fifth, suggesting measured affordability pressure and room for disciplined pricing.
Within a 3-mile radius, recent data show modest population softness alongside a small increase in households, with forecasts pointing to further growth in household counts. For investors, more households—even amid flat-to-down population—can translate into a larger tenant base and support for occupancy. Elevated home values in the neighborhood (high national percentile) reinforce ongoing reliance on rental housing, which can support pricing power and lease retention in well-managed assets. These insights are based on multifamily property research from WDSuite.
Safety indicators are mixed but improving. The neighborhood sits slightly above the national average for overall safety (higher national percentile), while ranking around the metro middle compared with 138 Santa Rosa–Petaluma neighborhoods. Property and violent offense rates have shown meaningful year-over-year declines, according to WDSuite, which supports a cautiously positive trend assessment. As with any submarket, underwriting should reflect localized block-by-block variation and ongoing monitoring.
- FedEx Headquarters — logistics (8.6 miles) — HQ
The area’s employment base includes nearby logistics operations that help support workforce housing demand and commute convenience for renters.
1302 Prentice Dr is a 23-unit, 1977-vintage asset in a top-quartile Healdsburg neighborhood where high home values sustain renter reliance on multifamily housing. Amenity density and strong school ratings bolster livability, while renter-occupied share near half points to a durable tenant base. Neighborhood occupancy is below the metro median, so hands-on leasing, renewals, and selective unit upgrades can be important to stabilize and drive NOI. Based on CRE market data from WDSuite, rents have advanced alongside incomes, and rent-to-income remains manageable, supporting a disciplined pricing outlook.
Demographics within a 3-mile radius indicate recent softness in population but growth in household counts, with forecasts calling for additional household expansion. For investors, this points to a broader renter pool over time, even as the market remains high-cost for ownership—conditions that can support occupancy and rent levels for well-managed, renovated product. The 1977 vintage suggests ongoing capital planning for building systems and interiors, with potential value-add upside relative to older local stock.
- Top-quartile neighborhood amenities and schools support leasing and retention
- High-cost ownership market reinforces multifamily demand and pricing power
- 1977 vintage offers value-add potential versus older area stock
- Household growth within 3 miles broadens the tenant base over time
- Risk: neighborhood occupancy below metro median requires active leasing and renewal strategy