| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 34th | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1841 Salem Ave, Santa Rosa, CA, 95401, US |
| Region / Metro | Santa Rosa |
| Year of Construction | 1972 |
| Units | 24 |
| Transaction Date | 2000-04-27 |
| Transaction Price | $1,700,000 |
| Buyer | 1841 SALEM AVE LLC |
| Seller | 1841 SALEM LP |
1841 Salem Ave, Santa Rosa Multifamily Opportunity
Neighborhood occupancy has remained strong, supporting income stability for well-managed assets, according to WDSuite’s CRE market data. This location offers a steady renter base relative to the metro, with fundamentals that favor durable leasing over the cycle.
Situated in Santa Rosa’s inner-suburb fabric, the neighborhood posts a B rating and has demonstrated solid renter demand. Neighborhood occupancy is competitive among Santa Rosa-Petaluma neighborhoods (ranked 44 out of 138, top quartile nationally), which supports consistent leasing and lower downtime for stabilized multifamily assets.
Renter concentration is elevated for the area (about three-fifths of housing units are renter-occupied), indicating a deep tenant base that can help underpin demand across unit types. Median contract rents sit above many U.S. neighborhoods while the local rent-to-income ratio reads as manageable, suggesting moderate affordability pressure and room for disciplined revenue management rather than aggressive pricing assumptions.
Local amenities are mixed. Parks and pharmacies are strengths (parks near the top of the metro and pharmacies among the very highest nationally), and restaurants are relatively dense for the area. On the other hand, cafes and grocery options within the immediate neighborhood are limited, so residents may rely on nearby districts for certain conveniences. Average school ratings in the neighborhood trend low, which may matter for family-oriented positioning but is less central for smaller-unit demand.
Vintage context favors the asset: the neighborhood’s average construction year skews mid-century (1955), while this property was built in 1972. Being newer than the area’s average can support relative competitiveness versus older stock; investors should still budget for modernization of systems and finishes typical of early-1970s construction.
Within a 3-mile radius, household counts have edged up recently and are projected to expand further by 2028, pointing to a larger tenant base over the medium term. Even as population trends have been mixed in the recent past, gradual household growth and a high-cost ownership market (home values well above national norms and a value-to-income ratio in a high national percentile) tend to sustain reliance on rental housing, reinforcing occupancy stability for well-located multifamily.
Safety trends should be viewed in context. Compared with neighborhoods nationwide, this area sits below the national median on safety measures, and within the Santa Rosa-Petaluma metro it tracks below the metro average (ranked 107 out of 138). Recent data shows year-over-year declines in both property and violent offense estimates, which is a constructive directional signal, but investors should continue to underwrite prudent security and operating protocols.
- FedEx — logistics/corporate offices (5.6 miles)
The local employment base includes regional logistics operations that support steady renter demand through commute-friendly access.
1841 Salem Ave offers 1972 vintage construction in a neighborhood where occupancy is competitive among metro peers and renter concentration is high, supporting a durable tenant base. The asset’s vintage is newer than the area’s mid-century average, suggesting relative competitiveness versus older stock; investors should anticipate targeted capital for aging systems and interior updates to unlock value. Elevated regional home values and a high value-to-income ratio reinforce reliance on rental housing, which can support lease retention and pricing discipline through cycles.
Based on commercial real estate analysis from WDSuite, the neighborhood’s amenity mix favors parks, pharmacies, and dining access, while grocery and cafe options are thinner locally. Household growth within 3 miles is projected to expand into 2028, indicating a gradually larger renter pool to support absorption, though lower neighborhood school ratings and below-median safety metrics warrant conservative underwriting assumptions.
- Competitive neighborhood occupancy supports stable cash flow potential
- Renter concentration and high-cost ownership market bolster demand depth
- 1972 vintage offers value-add path with targeted system and interior upgrades
- Amenity strengths in parks/pharmacies; dining access nearby aids livability
- Risks: below-median safety and low school ratings; limited local grocery/cafe options