| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Good |
| Demographics | 74th | Good |
| Amenities | 24th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 280 Douglas St, Petaluma, CA, 94952, US |
| Region / Metro | Petaluma |
| Year of Construction | 1972 |
| Units | 71 |
| Transaction Date | 2009-10-06 |
| Transaction Price | $8,750,000 |
| Buyer | Douglas Partners |
| Seller | Benton Kutler Generation Skipping Trust |
268 Douglas St, Petaluma CA Multifamily Investment
Neighborhood occupancy has held in a healthy range and elevated ownership costs point to durable renter demand, according to CRE market data from WDSuite. The investment angle centers on steady tenancy in a high-cost ownership market that supports pricing discipline without overreliance on rapid growth.
The property sits in a suburban Petaluma neighborhood with a B-rated profile among 138 metro neighborhoods. Home values rank in the higher tiers locally and near the top nationally, creating a high-cost ownership market that tends to sustain multifamily renter reliance and can aid lease retention. Neighborhood occupancy is 93.8% (neighborhood metric), supporting a case for income stability versus more volatile submarkets, based on CRE market data from WDSuite s multifamily property research.
Livability is driven by parks access that trends above national midpoints, while immediate retail density is limited (few cafes, groceries, or restaurants inside the neighborhood). Average school ratings track around the national midpoint. For investors, the lighter near-block retail mix suggests the asset competes more on housing fundamentals and commutability than on walk-to amenities.
Tenure patterns indicate a meaningful renter-occupied share at the neighborhood level (around the low-to-mid 40% range), which supports depth of the tenant base without signaling oversaturation of rentals. Neighborhood NOI per unit trends in the higher deciles nationally, suggesting the area can support stronger operating performance relative to many peer locations, though outcomes still depend on asset quality and execution.
Within a 3-mile radius, recent years show modest population softness alongside rising household counts and smaller household sizes, which can translate into a steady flow of apartment demand as more, smaller households seek rental options. Forecasts point to population and income growth over the next five years, reinforcing the long-term renter pool and supporting occupancy stability and rent collections.
Safety indicators for the neighborhood sit near the national middle, with the area performing around the metro middle among 138 Santa Rosa Petaluma neighborhoods. Recent year-over-year trends show declines in both property and violent offense estimates, which is a constructive signal for resident retention and leasing consistency. As always, property-level controls and professional management remain important for maintaining on-site conditions.
Regional employment access includes logistics, finance, and technology hubs within commuting distance, which helps support workforce renter demand and lease retention for Petaluma assets. The list below highlights nearby employers relevant to the renter base noted.
- FedEx — logistics (21.4 miles)
- Wells Fargo — banking (32.8 miles) — HQ
- Ameriprise Financial — financial services (32.8 miles)
- Salesforce.com — enterprise software (32.9 miles) — HQ
- Pfizer — life sciences offices (33.0 miles)
268 Douglas St is a 71-unit 1972-vintage asset positioned in a high-cost ownership market where elevated home values sustain renter reliance. Neighborhood occupancy around the mid-90s (neighborhood metric) and solid renter-occupied share point to a durable tenant base, while limited walkable retail means performance hinges more on operations, commutability, and unit quality. The 1972 construction introduces typical capital planning needs for systems and interiors, but also offers value-add potential to enhance competitiveness against newer stock.
According to CRE market data from WDSuite, the surrounding neighborhood posts strong income fundamentals and above-median operating potential relative to many areas, with forward-looking demographic indicators (within 3 miles) signaling a larger renter pool over time. Together, these factors support a long-term thesis centered on occupancy stability and measured rent growth through unit upgrades and professional management, balanced by attention to amenity-light blocks and commuting considerations.
- High-cost ownership market supports renter reliance and lease retention
- Neighborhood occupancy and renter concentration support demand depth (neighborhood metrics)
- 1972 vintage offers value-add and modernization upside with focused capital planning
- Income growth and a larger renter pool projected within 3 miles bolster long-run stability
- Risks: amenity-light blocks and commute distances require strong asset positioning and management