| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 62nd | Fair |
| Amenities | 16th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2002 Pinercrest Dr, Santa Rosa, CA, 95403, US |
| Region / Metro | Santa Rosa |
| Year of Construction | 1991 |
| Units | 73 |
| Transaction Date | 2023-01-18 |
| Transaction Price | $3,420,000 |
| Buyer | SB LAND COMPANY LP |
| Seller | DIRT DESIGNS |
2002 Pinercrest Dr Santa Rosa Multifamily Investment
Neighborhood occupancy remains competitive among Santa Rosa-Petaluma submarkets, supporting stable cash flow potential according to WDSuite’s CRE market data. High renter demand and solid household incomes in the area underpin leasing resilience for a 73-unit asset.
Situated in an Inner Suburb of Santa Rosa, the property benefits from neighborhood fundamentals that are above the metro median on several investor-relevant measures. Neighborhood occupancy trends track in the upper tiers nationally, signaling a supportive backdrop for stabilized operations rather than heavy lease-up risk, based on CRE market data from WDSuite. Median contract rents in the neighborhood benchmark well above national norms (95th percentile), pointing to pricing power where product quality and management execution are strong.
Livability indicators are mixed. While retail conveniences are limited in the immediate neighborhood (very low densities of grocery, cafes, restaurants, childcare, and pharmacies), park access ranks near the top of the metro (13th of 138 neighborhoods; top quartile nationally). This mix favors properties that market outdoor access and quick drives to daily needs rather than walk-to-retail positioning.
The asset’s 1991 construction is slightly newer than the neighborhood’s average vintage (late 1980s), suggesting relative competitiveness versus older stock, with potential modernization opportunities for systems, interiors, and amenities to support rent positioning and retention.
Within a 3-mile radius, demographics indicate a substantial renter-occupied presence and rising household counts over the last five years, which expands the local tenant base. Even as population has been roughly flat to slightly down recently, smaller average household sizes and projections for population and household growth through 2028 point to a gradual renter pool expansion that can support occupancy stability. Elevated home values and value-to-income ratios (both high national percentiles) characterize a high-cost ownership market, which tends to reinforce reliance on multifamily housing; paired with a relatively moderate rent-to-income reading (low national percentile), this supports lease retention and reduces affordability pressure relative to similarly priced coastal markets.
Safety indicators for the neighborhood are generally above the metro median when compared with 138 Santa Rosa-Petaluma neighborhoods, and modestly better than national averages (higher national percentiles indicate relatively safer conditions). Property-related offenses have improved on a year-over-year basis, ranking in a strong improvement tier versus peer neighborhoods. At the same time, recent trends show some increase in violent offense rates; investors should calibrate underwriting and security measures to local patterns rather than block-level assumptions.
Proximity to a regional logistics employer supports commuter convenience and helps sustain renter demand for workforce housing in this Inner Suburb. The list below reflects nearby corporate offices likely to influence leasing and retention.
- FedEx — logistics & distribution offices (4.0 miles)
This 73-unit, 1991-vintage asset aligns with a neighborhood that posts strong occupancy and rent positioning relative to national norms, according to CRE market data from WDSuite. The vintage offers competitive standing versus older stock, while targeted renovations and systems upgrades can unlock value-add upside. Elevated ownership costs in the area, coupled with solid household incomes and a meaningful renter-occupied presence within 3 miles, support depth of tenant demand and leasing durability.
Forward-looking indicators within a 3-mile radius point to population growth and an increase in households through 2028, implying a larger renter base over time. Near-term, limited neighborhood retail density and mixed safety trends warrant conservative assumptions on concessions and operating expenses, but park access and commuter connectivity help offset walkability gaps for renters prioritizing outdoor space and drivability.
- Competitive neighborhood occupancy and rent positioning versus national benchmarks
- 1991 vintage provides a platform for value-add renovations and operational upgrades
- High-cost ownership market and solid incomes reinforce multifamily demand and retention
- 3-mile trends indicate population and household growth, supporting a broader tenant base
- Risks: sparse immediate retail amenities and mixed safety trends may require prudent expense and leasing assumptions