| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 76th | Good |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 151 Petaluma Blvd S, Petaluma, CA, 94952, US |
| Region / Metro | Petaluma |
| Year of Construction | 2007 |
| Units | 56 |
| Transaction Date | 2014-06-13 |
| Transaction Price | $14,700,000 |
| Buyer | TSA SKH INVESTORS LLC |
| Seller | THEATRE SQUARE APARTMENTS LLC |
151 Petaluma Blvd S Downtown Petaluma Multifamily Investment
Amenity-rich downtown location supports durable renter demand and above-median neighborhood occupancy, according to WDSuite’s CRE market data. Newer construction for the submarket enhances competitive positioning while keeping capital plans focused on targeted updates.
Located in Petaluma’s inner-suburban downtown, the neighborhood scores A+ and ranks 2nd among 138 Santa Rosa–Petaluma neighborhoods, signaling strong fundamentals relative to the metro. Dense amenity access stands out — restaurants, groceries, cafes, parks, and pharmacies are all available at levels that are top quartile nationally — which helps leasing velocity and day-to-day livability for residents.
Neighborhood occupancy is above the national median and competitive for the metro, supporting income stability at similar assets (as indicated by CRE market data from WDSuite). The share of housing units that are renter-occupied is also above the metro median, pointing to a deeper tenant base and steadier leasing demand than more ownership-heavy pockets.
Within a 3-mile radius, the population has been roughly flat in recent years while household counts edged higher, implying smaller average household sizes and a gradually expanding renter pool. Looking ahead, forecasts point to further growth in households and incomes by 2028, which would support absorption and retention at market rents. Average school ratings in the area sit near national midrange, which is adequate for broad renter cohorts.
Home values in the neighborhood are elevated versus national norms, a high-cost ownership context that tends to reinforce reliance on multifamily housing and supports pricing power when balanced with resident affordability. Neighborhood NOI per unit benchmarks sit in the top decile nationally, underscoring strong revenue potential for well-managed assets in this micro-market.
Safety conditions should be evaluated at the property level, but neighborhood indicators place this area below the national median for safety and in the lower tier relative to the 138 neighborhoods in the Santa Rosa–Petaluma metro. For investors, this argues for practical measures such as lighting, access control, and partnership with local resources to support resident experience and retention.
Recent trend data provide a mixed picture: violent incidents are trending down year over year, while property-related incidents have ticked up. Framed comparatively, the area is not among the metro’s top performers for safety, yet improvements in violent categories are a constructive sign. Underwriting should reflect prudent operating policies and potential security line items.
Regional employment anchors within commuting range include logistics and major financial and technology headquarters, supporting a diversified renter base and commute convenience that can aid leasing and retention.
- FedEx — logistics (21.3 miles)
- Wells Fargo — banking (32.9 miles) — HQ
- Ameriprise Financial — financial services (32.9 miles)
- Salesforce.com — software (33.0 miles) — HQ
- PG&E Corp. — utilities (33.2 miles) — HQ
Built in 2007, the property is materially newer than the surrounding stock, offering competitive positioning versus mid-century assets while leaving room for targeted modernization to drive rents and retention. The immediate neighborhood ranks near the top among 138 metro neighborhoods and benefits from dense amenities and an above-median renter concentration, which together support demand resilience and occupancy stability. Elevated ownership costs in the area further sustain reliance on multifamily housing, and, according to CRE market data from WDSuite, neighborhood occupancy remains solid against national benchmarks.
Investor considerations include operating for resident affordability where rent-to-income levels suggest thoughtful lease management, along with pragmatic security measures given below-median safety indicators even as violent categories show improvement. Overall, the combination of newer vintage, amenity depth, and a diversified employment draw supports a durable long-term thesis with selective value-add upside.
- 2007 vintage outcompetes older local stock; targeted upgrades can enhance positioning
- Top-tier neighborhood within the Santa Rosa–Petaluma metro with dense amenities supporting leasing velocity
- Above-median renter-occupied share and solid neighborhood occupancy support income stability
- High-cost ownership context reinforces demand for rentals and supports pricing power
- Risk: below-median safety metrics and affordability pressures require prudent operations and underwriting