| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 62nd | Fair |
| Amenities | 16th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2015 Pioneer Way, Santa Rosa, CA, 95403, US |
| Region / Metro | Santa Rosa |
| Year of Construction | 1985 |
| Units | 105 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2015 Pioneer Way Santa Rosa Multifamily Investment
This 105-unit property built in 1985 operates in a neighborhood with 96.7% occupancy and strong net operating income per unit performance in the top decile nationally. CRE market data from WDSuite indicates the area demonstrates above-average rental demand fundamentals relative to the Santa Rosa metro.
Located in an inner suburb neighborhood of Santa Rosa, this property sits in an area ranked in the top quartile among 138 metro neighborhoods for housing market fundamentals. The neighborhood maintains 96.7% occupancy rates, positioning above the 82nd national percentile for occupancy stability. With 26.9% of housing units renter-occupied, the area provides a solid base of rental demand within the broader Santa Rosa-Petaluma market.
Built in 1985, the property aligns with the neighborhood's average construction vintage of 1989, indicating potential value-add opportunities through strategic capital improvements and unit modernization. The area demonstrates strong rent performance with median contract rents of $2,269, ranking 30th among metro neighborhoods and placing in the 95th national percentile. Five-year rent growth of 34.4% reflects sustained pricing power in this submarket.
Demographics within a 3-mile radius show a stable tenant base with median household income of $97,476 and mean income of $116,445. The area projects 3.5% population growth through 2028, supporting expansion of the renter pool. Forecast data indicates household formation will increase 44.9% over the next five years, with median rents expected to reach $2,729, representing 42.4% growth that should support revenue optimization strategies.
The neighborhood offers limited walkable amenities, with minimal retail density but strong park access ranking in the 94th national percentile. Home values averaging $581,112 and rising 33% over five years reinforce rental demand, as elevated ownership costs keep households in the multifamily market longer than in more affordable ownership markets.
The neighborhood demonstrates moderate safety metrics relative to the Santa Rosa metro area. Property crime rates of 190 incidents per 100,000 residents rank 68th among 138 metro neighborhoods, placing near the middle of the local market. However, property crime has declined significantly by 50.6% over the past year, ranking 31st in the metro for crime reduction and reaching the 88th national percentile for improvement trends.
Violent crime remains relatively contained at 21 incidents per 100,000 residents, ranking 56th among metro neighborhoods and in the 58th national percentile. While violent crime increased 31.2% year-over-year, this places the neighborhood at the 32nd national percentile for violent crime trends, indicating room for continued monitoring of safety conditions and their potential impact on tenant retention and leasing velocity.
The property benefits from proximity to corporate employment anchors that support workforce housing demand in the Santa Rosa submarket.
- FedEx — logistics and shipping operations (3.8 miles)
This 105-unit property presents a value-add opportunity in a fundamentally sound Santa Rosa submarket. The 1985 construction year positions the asset for strategic capital improvements while benefiting from neighborhood-level occupancy of 96.7% and NOI per unit performance in the top decile nationally. According to commercial real estate analysis from WDSuite, the area demonstrates pricing power with rents in the 95th national percentile and 34.4% five-year growth.
Demographic projections within a 3-mile radius support sustained rental demand, with 3.5% population growth and 44.9% household formation growth forecast through 2028. The submarket's elevated home values averaging $581,112 reinforce multifamily demand by maintaining ownership barriers for many households. These fundamentals, combined with the property's renovation potential, create a compelling risk-adjusted return profile for investors focused on California's North Bay market.
- Top-decile NOI per unit performance indicates strong operational fundamentals
- 96.7% neighborhood occupancy provides stability above national averages
- 1985 vintage offers value-add potential through strategic capital improvements
- Forecast 44.9% household growth supports long-term rental demand expansion
- Risk: Limited walkable amenities may impact tenant retention compared to urban alternatives