| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Fair |
| Demographics | 69th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 359 W Payran St, Petaluma, CA, 94952, US |
| Region / Metro | Petaluma |
| Year of Construction | 2002 |
| Units | 87 |
| Transaction Date | 2020-03-25 |
| Transaction Price | $5,725,306 |
| Buyer | OLD ELM PARTNERS II LP |
| Seller | OLD ELM PARTNERS LP |
359 W Payran St, Petaluma CA Multifamily Investment
Neighborhood data points to steady renter demand supported by elevated local home values and a meaningful renter-occupied share, according to WDSuite’s CRE market data. The area’s occupancy trends have been near national norms, offering investors a balanced risk profile for income stability.
Situated in Petaluma’s inner-suburban fabric, the neighborhood ranks 4th out of 138 metro neighborhoods (A+ rating), indicating strong overall fundamentals relative to the Santa Rosa–Petaluma market. Amenities are a local strength: with an amenity rank of 3rd of 138 and national amenity measures in the top quartile nationally, daily needs like groceries, restaurants, parks, and pharmacies are well represented — supportive of resident satisfaction and lease retention.
The neighborhood’s renter-occupied share is measured at roughly two-fifths, which signals a stable tenant base for multifamily investors. Neighborhood occupancy has hovered around the national middle by percentile over the last five years, suggesting generally steady lease-up and retention prospects rather than outsized volatility. Elevated home values (well above the national norm by percentile) point to a high-cost ownership market that can sustain reliance on rental housing, while a rent-to-income profile near the lower national percentiles indicates relatively manageable affordability pressure for tenants, an important consideration for collections and renewal decisions.
Property vintage is a differentiator: the average construction year in the neighborhood skews older (1951), while this asset was built in 2002. That relative youth can help the property compete against older stock; however, investors should still plan for mid-life capital items and select modernization to protect pricing power over the hold.
Within a 3-mile radius, demographics from WDSuite indicate households have grown modestly in recent years despite flat-to-slightly lower population counts — a sign of smaller household sizes and a renter pool that may continue to expand. Forward-looking figures point to additional household growth by 2028 alongside rising incomes, which supports multifamily demand through a larger tenant base and potential for rent growth consistent with local income trends.
Safety indicators are mixed but generally competitive in the metro context. The neighborhood’s crime rank sits in the safer tier locally (114th of 138, where lower ranks indicate more crime), while national percentiles place overall crime around the middle of U.S. neighborhoods. Recent trends suggest improvement in violent incidents (declining year over year by local estimates) but some pressure from property offenses, which remain more elevated by national comparison.
For investors, this typically translates to standard risk-management practices rather than extraordinary measures: maintain lighting, access controls, and package management to mitigate property crime exposure and support resident retention. Always validate conditions block-by-block during due diligence, as micro-locations can vary within otherwise stable areas.
Regional employers across logistics, finance, technology, energy, and healthcare provide a diverse white-collar and operations-oriented employment base that supports renter demand through commute access to the North Bay and San Francisco. Notable nearby employers include FedEx, Wells Fargo, Ameriprise Financial, Salesforce, and PG&E Corp.
- FedEx — logistics (20.4 miles)
- Wells Fargo — finance (33.8 miles) — HQ
- Ameriprise Financial — finance (33.8 miles)
- Salesforce.com — software (33.9 miles) — HQ
- PG&E Corp. — energy & utilities (34.1 miles) — HQ
359 W Payran St is an 87-unit asset built in 2002, positioned in an A+–rated neighborhood that ranks 4th of 138 metro neighborhoods for overall fundamentals. The submarket’s high-cost ownership landscape and renter concentration support a durable tenant base, while neighborhood occupancy has tracked near national norms — a backdrop conducive to steady cash flow with prudent operations. According to CRE market data from WDSuite, household growth within a 3-mile radius is expected to continue as household sizes trend smaller, reinforcing depth in the renter pool.
Relative to older nearby stock (average neighborhood vintage 1951), the property’s 2002 construction provides competitive positioning with potential to unlock value via targeted modernization and common-area upgrades. Key considerations include managing property-crime exposure typical of the area and monitoring affordability pressure as rents and incomes evolve, but overall conditions point to stable leasing and retention for a well-operated asset.
- A+ neighborhood, ranked 4th of 138 locally, with strong amenity access supporting resident satisfaction
- High-cost ownership market reinforces reliance on rentals, aiding demand depth and pricing power
- 2002 vintage versus older neighborhood stock offers competitive positioning and value-add potential
- 3-mile household growth outlook supports renter pool expansion and occupancy stability
- Risks: property-crime management and affordability monitoring to protect retention and collections