| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Fair |
| Demographics | 29th | Poor |
| Amenities | 34th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1001 Bellevue Ave, Santa Rosa, CA, 95407, US |
| Region / Metro | Santa Rosa |
| Year of Construction | 1999 |
| Units | 48 |
| Transaction Date | 1997-11-12 |
| Transaction Price | $1,900,000 |
| Buyer | SANTA ROSA QUAIL RUN LP |
| Seller | SANTA ROSA HOUSING PARTNERS LP |
1001 Bellevue Ave, Santa Rosa Multifamily Investment
Neighborhood fundamentals point to steady renter demand and competitive occupancy, according to WDSuite’s CRE market data, with a 1999 vintage offering an edge over older nearby stock.
Built in 1999, the property is newer than the neighborhood s average 1975 construction year. For investors, this typically means stronger competitive positioning versus older stock and potentially lower near-term capital needs, while still planning for systems nearing mid-life and select modernization to support rent growth.
Renter concentration is meaningful at the neighborhood level, with 56.5% of housing units renter-occupied (top quartile among 138 Santa Rosa-Petaluma neighborhoods and high nationally). This depth of the tenant base supports leasing velocity and renewal potential for a 48-unit asset.
Occupancy in the neighborhood is competitive among Santa Rosa-Petaluma submarkets (ranked 54 of 138) and sits in the top quartile nationally, a backdrop that can help stabilize cash flows through cycles. Median asking rents benchmark above national norms, reinforcing pricing power when units are well-positioned.
Amenities skew toward daily needs: grocery access is competitive among metro peers and strong nationally, while immediate park, pharmacy, and cafe density is limited. Average school ratings are below metro median and sit in a lower national percentile, which can influence unit mix appeal for households prioritizing school quality.
Within a 3-mile radius, recent trends show a slight population dip alongside an increase in households, pointing to smaller household sizes and a broadening renter pool. Looking ahead to 2028, WDSuite s commercial real estate analysis indicates projected gains in population, households, and incomes, which can expand the local tenant base and support occupancy stability.
Safety signals are mixed and should be monitored with standard risk controls. The neighborhood ranks toward the safer end within the Santa Rosa-Petaluma metro (125 of 138), but sits below the national midpoint (38th percentile). Property crime estimates have improved year over year, while violent offense measures remain weaker than national averages. Investors should underwrite prudent security measures and consider insurance and lighting/CPTED enhancements as appropriate.
- FedEx — parcel logistics (9.0 miles)
Nearby employment nodes anchor logistics and distribution, supporting commuter demand and lease retention for workforce housing within the submarket.
This 1999-vintage, 48-unit asset benefits from a renter-heavy neighborhood, competitive occupancy that ranks well within the metro and top quartile nationally, and grocery-anchored convenience. Based on CRE market data from WDSuite, median rents trend above national norms while neighborhood NOI per unit outperforms, suggesting revenue durability when units are maintained and positioned thoughtfully.
Three-mile demographics show households expanding and incomes rising, with forecasts pointing to additional population and household growth by 2028. These trends support a larger tenant base and lease-up resilience, while limited parks/cafes and lower school ratings, along with affordability pressure (higher rent-to-income readings), are underwriting considerations rather than deal breakers.
- 1999 vintage offers competitive positioning versus older local stock with targeted modernization upside
- Renter concentration and competitive occupancy support leasing stability and renewals
- Neighborhood NOI per unit and above-national rents indicate revenue potential when well-operated
- 3-mile outlook suggests growth in population and households, expanding the tenant base
- Risks: national safety positioning, affordability pressure, and thinner park/cafe amenities warrant prudent underwriting