| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Fair |
| Demographics | 29th | Poor |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1952 W Steele Ln, Santa Rosa, CA, 95403, US |
| Region / Metro | Santa Rosa |
| Year of Construction | 1997 |
| Units | 27 |
| Transaction Date | 1994-05-03 |
| Transaction Price | $256,643 |
| Buyer | GARMAN STEVE |
| Seller | BRANTLEY GENE |
1952 W Steele Ln, Santa Rosa — 27-Unit Multifamily
Neighborhood occupancy is high and renter demand is deep, according to WDSuite’s CRE market data, pointing to steady leasing fundamentals for this Santa Rosa asset.
This Urban Core neighborhood in Santa Rosa posts a 98.9% multifamily occupancy rate, placing it in the top quartile nationally and competitive among 138 metro neighborhoods. A renter-occupied share around 61% indicates a sizable tenant base, which supports demand resilience and day-to-day leasing stability for small and mid-sized multifamily assets.
The immediate area offers strong daily-needs access: restaurant and café densities rank near the top of metro peers and score well nationally, and grocery options are abundant. Park and pharmacy availability is limited within the neighborhood boundaries, so residents may look to nearby districts for those needs. These dynamics generally favor properties that emphasize on-site conveniences and walkable retail adjacency.
Within a 3-mile radius, recent population trends were roughly flat while household counts edged higher, suggesting smaller household sizes and a gradual expansion of the renter pool. Looking ahead to 2028, WDSuite’s CRE market data points to population growth and a notable increase in households, which would enlarge the local tenant base and help support occupancy stability.
Ownership costs are elevated relative to many U.S. areas, and neighborhood home values rank high nationally. In practice, this creates a high-cost ownership market that tends to reinforce reliance on rental housing, supporting lease retention and pricing power when paired with the area’s above-median income profile. Median contract rents also rank high nationally, so operators should balance revenue management with attention to rent-to-income levels to sustain retention.
Vintage context: the neighborhood’s average construction year is 1976. With a 1997 build, the subject property is newer than much of the local stock, which can enhance competitive positioning while still warranting selective capital planning for systems and modernization to meet contemporary renter expectations.
Safety indicators are mixed when viewed against metro and national benchmarks. Neighborhood crime ranks toward the higher-crime side within the Santa Rosa-Petaluma metro (ranked 108 among 138 neighborhoods), while national positioning is closer to midpack. Property-related offenses have improved year over year with a meaningful decline, whereas violent-offense trends show a recent uptick. For investors, this suggests monitoring local policing and community initiatives, emphasizing lighting, access control, and tenant engagement as part of operating plans.
- FedEx — logistics operations (4.9 miles)
Nearby employment is anchored by logistics operations that offer commute convenience for service and warehouse workers, supporting workforce renter demand.
The investment case centers on durable renter demand, high neighborhood occupancy, and a tenant base supported by elevated ownership costs. Based on commercial real estate analysis from WDSuite, the neighborhood’s occupancy sits in the top quartile nationally, and the renter-occupied share is substantial—factors that typically underpin stable leasing and renewal activity. The 1997 vintage is newer than the area’s average stock, offering competitive positioning with potential value-add through selective interior and systems updates.
Within a 3-mile radius, households have increased and are projected to grow further by 2028, indicating a larger tenant base over time. Combined with a high-cost ownership environment and strong daily-needs access, these trends support ongoing demand for multifamily units, while rent-to-income dynamics warrant attentive revenue management and resident retention strategies.
- High neighborhood occupancy and sizable renter-occupied share support leasing stability.
- 1997 vintage is newer than local average, with potential for targeted value-add.
- 3-mile household growth outlook expands the tenant base and supports absorption.
- Elevated ownership costs reinforce reliance on rentals, aiding pricing power.
- Risks: safety variability within the metro, limited parks/pharmacies nearby, and affordability pressure require proactive operations.