| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 70th | Good |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1289 Martha Way, Santa Rosa, CA, 95405, US |
| Region / Metro | Santa Rosa |
| Year of Construction | 1993 |
| Units | 34 |
| Transaction Date | 2020-04-16 |
| Transaction Price | $350,000 |
| Buyer | GROSMAN APARTMENTS INVESTORS |
| Seller | CITY OF SANTA ROSA |
1289 Martha Way, Santa Rosa Apartments Investment
Neighborhood occupancy is fully absorbed and renter demand is supported by a sizable renter-occupied housing base, according to WDSuite s CRE market data. Expect stable tenancy driven by Inner Suburb fundamentals and a high-cost ownership market that tends to sustain rental housing reliance.
Located in Santa Rosa s Inner Suburb fabric, the neighborhood scores an A and ranks 17 out of 138 metro neighborhoods competitive among Santa Rosa-Petaluma areas and above the metro median. At the neighborhood level (not the property), occupancy is at 100%, underscoring tight conditions that typically support steady leasing and limited downtime.
Renter-occupied housing accounts for roughly 47.7% of units here (top-quintile nationally), indicating a deep tenant base for multifamily. Median contract rents in the neighborhood benchmark above national norms, while the rent-to-income ratio trends toward the lower end nationally, a mix that can support retention and measured pricing power for well-positioned assets.
Daily needs are well covered grocery and pharmacy access track in the 80s to 90s national percentiles, and restaurant density is similarly strong. Caf e9 options and park acreage are limited, which may modestly cap lifestyle appeal; however, proximity to essentials supports workforce-oriented demand. Average school ratings track below national medians, which may influence family-driven demand but is less determinative for studios and smaller-format rentals.
Within a 3-mile radius, recent trends show modest population growth and an increase in households, with projections indicating further household expansion and rising incomes through the forecast period. In a metro where median home values are elevated (around the 90th national percentile), ownership remains high-cost, reinforcing reliance on rental housing and helping sustain occupancy stability for pragmatic, well-managed properties. Based on CRE market data from WDSuite, the property s 1993 vintage is newer than the neighborhood s average stock from the late 1970s, offering relative competitiveness versus older comparables while still warranting selective system updates or amenity refreshes for positioning.
Safety indicators are mixed but generally track slightly better than national averages. Neighborhood-level crime sits around the 58th national percentile for overall safety, and both violent and property offense estimates have declined year over year, according to WDSuite s CRE data. These are neighborhood-level signals rather than block-specific conditions and should be paired with on-the-ground diligence and property-level history.
The area draws from a broad Sonoma County employment base, with logistics and parcel services providing steady demand and commute convenience for renters represented below.
- FedEx 14 logistics & parcel services (8.1 miles)
1289 Martha Way combines tight neighborhood occupancy and a sizable renter concentration with the pricing power that can emerge in high-cost ownership markets. The 1993 construction is newer than much of the surrounding housing stock, supporting competitive positioning against older comparables; selective upgrades can target renter expectations while keeping capital intensity measured. According to CRE market data from WDSuite, neighborhood rents benchmark high nationally while rent-to-income levels indicate manageable affordability pressure a backdrop that can support retention for smaller-format units.
Within a 3-mile radius, household counts have been rising and are projected to expand further alongside income growth, which typically broadens the tenant base and supports occupancy stability. Essentials access (groceries, pharmacies) is strong, even as limited parkland and caf e9 density and below-median school ratings present modest competitive considerations depending on the target renter profile.
- Tight neighborhood occupancy and high renter-occupied share support steady leasing and renewal potential.
- 1993 vintage offers relative competitiveness versus older area stock with focused value-add or modernization upside.
- Elevated home values in the metro sustain reliance on rental housing, reinforcing demand for well-priced units.
- 3-mile household and income growth expands the tenant base and can support occupancy stability over time.
- Risks: limited parks/caf e9 density and below-median school ratings may narrow appeal for some households.