| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Fair |
| Demographics | 69th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 909 Martin Cir, Petaluma, CA, 94952, US |
| Region / Metro | Petaluma |
| Year of Construction | 1993 |
| Units | 32 |
| Transaction Date | 2016-08-03 |
| Transaction Price | $4,260,045 |
| Buyer | CRWC LP |
| Seller | CORONA/ELY RANCH INC |
909 Martin Cir Petaluma Multifamily Investment
This 32-unit property sits within a neighborhood ranking in the top quartile among 138 metro neighborhoods, with strong amenity access and above-average household incomes according to CRE market data from WDSuite.
The property is located in an Inner Suburb neighborhood that demonstrates strong fundamentals with an A+ rating and ranks 4th among 138 neighborhoods in the Santa Rosa-Petaluma metro. The area benefits from exceptional amenity density, ranking in the 90th percentile nationally for overall amenity access, with 3.48 grocery stores per square mile and substantial restaurant and cafe options that support tenant retention.
Built in 1993, this property aligns with moderate renovation potential as the neighborhood's average construction year of 1951 suggests an established area with mixed vintage housing stock. The rental market shows stability with 37.4% of housing units occupied by renters and neighborhood-level occupancy at 92.3%, though investors should monitor the slight decline in occupancy over the past five years.
Demographics within a 3-mile radius support multifamily demand with a median household income of $115,573 that has grown 32.9% over five years. The area maintains 56,600 residents with forecasts indicating modest population growth of 1.6% through 2028, translating to household formation that should expand the renter pool. High home values at a median of $781,970 reinforce rental demand as elevated ownership costs keep households in the rental market.
Contract rents in the neighborhood average $1,915 for one-bedroom units, positioning in the 90th percentile nationally, while rent-to-income ratios suggest affordability pressure that requires careful lease management. The concentration of childcare facilities ranking in the 97th percentile nationally indicates family-oriented demand that typically correlates with longer tenancy periods.
The neighborhood's safety profile shows mixed indicators that warrant standard due diligence. Property crime rates rank 118th among 138 metro neighborhoods, placing it in the lower half locally, though violent crime rates perform better at 93rd among metro neighborhoods with a 14.5% decline over the past year.
While property crime has increased 11.6% year-over-year, the overall crime ranking places the neighborhood in the 44th percentile nationally, indicating moderate performance compared to neighborhoods nationwide. Investors should factor security considerations into property management planning and tenant retention strategies.
The property benefits from proximity to major corporate headquarters and offices within the broader Bay Area employment corridor, providing workforce housing for professionals commuting to established financial and technology employers.
- FedEx — logistics and shipping (20.7 miles)
- Wells Fargo — financial services (33.6 miles) — HQ
- Salesforce.com — technology and software (33.7 miles) — HQ
- PG&E Corp. — utilities (33.8 miles) — HQ
- McKesson — healthcare distribution (33.9 miles) — HQ
This 32-unit property built in 1993 presents a value-add opportunity within a top-performing Petaluma neighborhood that ranks 4th among 138 metro neighborhoods. The location benefits from exceptional amenity access and above-average household incomes, while the building's vintage suggests moderate capital expenditure needs with potential for strategic improvements to capture rent premiums in a market where one-bedroom units average $1,915.
Demographic trends within a 3-mile radius support sustained rental demand with household income growth of 32.9% over five years and forecasted population expansion through 2028. High home values at $781,970 median reinforce rental market participation, though rent-to-income ratios require careful lease management. The property's proximity to major Bay Area employers provides workforce housing appeal for professionals seeking alternatives to higher-cost urban markets.
- Top quartile neighborhood ranking with A+ rating among 138 metro areas
- Strong household income growth of 32.9% supporting rent premiums
- High home values reinforce rental demand in competitive ownership market
- Value-add potential with 1993 vintage allowing strategic improvements
- Risk consideration: declining neighborhood occupancy trends and affordability pressure require active management