| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Fair |
| Demographics | 69th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 109 Magnolia Ave, Petaluma, CA, 94952, US |
| Region / Metro | Petaluma |
| Year of Construction | 1973 |
| Units | 91 |
| Transaction Date | 2015-09-01 |
| Transaction Price | $12,500,000 |
| Buyer | PARK LANE LP |
| Seller | PARK LANE APARTMENTS CORPORATION |
109 Magnolia Ave Petaluma Multifamily Investment
Positioned in an A+ rated Petaluma neighborhood, the asset benefits from steady renter demand and a high-cost ownership market, according to WDSuite’s CRE market data. Neighborhood occupancy is stable and renter concentration supports depth of the tenant base.
109 Magnolia Ave sits in an Inner Suburb pocket of Petaluma ranked 4th out of 138 metro neighborhoods, indicating competitive fundamentals within the Santa Rosa–Petaluma area. Neighborhood occupancy is reported at 92.3% for the area, supporting leasing stability for multifamily operators.
Daily needs are well-covered: restaurants, groceries, parks, and pharmacies score in the upper national percentiles, with amenities competitive among Santa Rosa–Petaluma neighborhoods. Childcare density is particularly strong, which can aid retention for family-oriented renter segments. Average school ratings are around the middle of national comparables.
The neighborhood’s renter-occupied share is 37.4% of housing units. For investors, this reflects a meaningful renter base that supports ongoing demand for professionally managed apartments while still competing with ownership options. Elevated home values in the area (high by national context) generally sustain reliance on rentals and can support pricing power for well-managed assets.
Within a 3-mile radius, demographics show smaller household sizes over time and modest household growth historically, with population expected to expand over the next five years. This points to a gradually larger tenant base and supports occupancy stability, especially for efficient floorplans. Median contract rents are high for the region and have risen over the past five years, reinforcing the case for institutional management and revenue optimization.
Vintage context: the asset was built in 1973, newer than the neighborhood’s average construction year (1951). This positioning can offer a competitive edge versus older stock, though investors should underwrite for aging systems and selective modernization to meet current renter expectations.
Safety indicators are mixed and should be evaluated in context. At the metro level, the neighborhood’s crime rank is 114 out of 138 neighborhoods, suggesting comparatively lower crime versus many Santa Rosa–Petaluma areas. Nationally, property offenses for the area track below the safer half of neighborhoods, while violent offense rates sit closer to the national midpoint. Recent trends show violent offenses improving year over year, a constructive signal for long-term operations.
Regional employment anchors within commuting range help support renter demand and retention, particularly among professional and operations staff. The list below highlights nearby corporate offices relevant to the tenant base.
- FedEx Headquarters — logistics (20.4 miles)
- Wells Fargo — financial services (33.8 miles) — HQ
- Salesforce.com — software (33.9 miles) — HQ
- PG&E Corp. — utilities (34.1 miles) — HQ
- McKesson — healthcare distribution (34.1 miles) — HQ
This 91-unit, 1973-vintage property in Petaluma benefits from a strong neighborhood profile and a renter base supported by high ownership costs in Sonoma County. According to commercial real estate analysis from WDSuite, the surrounding neighborhood posts solid amenity access and a renter-occupied share that points to durable multifamily demand. Occupancy in the area remains healthy, and rent levels have trended upward, positioning the asset for revenue management and selective upgrades.
Within a 3-mile radius, households have grown while average household size has decreased, with forecasts calling for population growth and further income gains — dynamics that can expand the renter pool and support retention. Being newer than the neighborhood’s average vintage, the asset can compete favorably with older stock; targeted modernization and system updates can unlock additional value while maintaining operating resilience.
- Strong neighborhood rank within the metro and high-cost ownership market support ongoing renter demand
- Stable neighborhood occupancy and rising area rents underpin income durability
- 1973 vintage is newer than local average, offering competitive positioning with value-add potential
- Regional employers within commuting range bolster leasing depth for professional tenants
- Risks: mixed national safety positioning and prior occupancy softening merit conservative underwriting and focused asset management