| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 47th | Poor |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2146 Bedford St, Santa Rosa, CA, 95404, US |
| Region / Metro | Santa Rosa |
| Year of Construction | 2000 |
| Units | 78 |
| Transaction Date | 2010-04-30 |
| Transaction Price | $12,000,000 |
| Buyer | Bedford Santa Rosa Associates LLC |
| Seller | 2146 Bedford Street LLC |
2146 Bedford St Santa Rosa Multifamily Investment
This 78-unit property built in 2000 sits in a neighborhood ranking 16th among 138 Santa Rosa metro neighborhoods, with 98.5% occupancy rates and strong renter-occupied housing share.
The Bedford Street neighborhood demonstrates solid fundamentals for multifamily investment, ranking 16th among 138 Santa Rosa metro neighborhoods with an A rating. The area maintains 98.5% occupancy rates and ranks in the 92nd percentile nationally, indicating strong rental demand stability. With 64.7% of housing units renter-occupied, the neighborhood ranks 7th metro-wide and 96th percentile nationally, supporting sustained tenant pool depth.
Demographics within a 3-mile radius show steady population growth of 3.7% over five years, with forecasted acceleration to 7.8% through 2028. Household formation is projected to increase 40.6%, expanding the renter base significantly. The area's median household income of $83,261 has grown 36% over five years, with projections indicating continued strengthening to $123,201 by 2028.
The property's 2000 construction year aligns with the neighborhood average of 1995, positioning it competitively without immediate major capital expenditure pressure. Current median rents of $1,830 rank 68th metro-wide but sit in the 88th percentile nationally, while rent growth of 43.4% over five years reflects strong pricing power. The area benefits from exceptional amenity density, ranking 2nd metro-wide for grocery stores and 7th for restaurants per square mile.
Home values averaging $428,500 create affordability pressure that reinforces rental demand, as elevated ownership costs sustain renter reliance on multifamily housing. The rent-to-income ratio suggests manageable affordability for tenants while supporting lease retention, though investors should monitor renewal rates given income dynamics.
Safety metrics present a mixed profile requiring active management consideration. The neighborhood ranks 122nd among 138 Santa Rosa metro neighborhoods for overall crime, placing it in the 39th percentile nationally. Property offense rates of 2,448 per 100,000 residents rank 134th metro-wide (8th percentile nationally), indicating elevated property crime exposure that warrants security and insurance planning.
However, violent crime trends show improvement, with rates declining 38.1% year-over-year to 40.7 per 100,000 residents. This downward trajectory ranks 37th metro-wide (80th percentile nationally), suggesting positive momentum in neighborhood safety conditions. Investors should factor ongoing security measures and tenant screening protocols into operational planning while monitoring these improving violent crime trends.
The Santa Rosa employment base provides limited major corporate anchor presence, with FedEx maintaining headquarters operations within reasonable commuting distance.
- FedEx — logistics and shipping services (8.3 miles) — HQ
This 78-unit Santa Rosa property offers compelling fundamentals anchored by exceptional neighborhood-level occupancy performance and strong renter demographics. According to CRE market data from WDSuite, the area maintains 98.5% occupancy rates ranking in the 92nd percentile nationally, while 64.7% renter-occupied housing provides substantial tenant pool depth. The 2000 construction vintage positions the asset competitively without immediate major capital requirements, while five-year rent growth of 43.4% demonstrates solid pricing power.
Demographic projections within the 3-mile radius support sustained demand, with household formation expected to increase 40.6% through 2028 and median incomes rising 48% to $123,201. However, elevated property crime rates ranking 134th among 138 metro neighborhoods require proactive security planning and may impact insurance costs and tenant retention strategies.
- Exceptional 98.5% neighborhood occupancy rates (92nd percentile nationally)
- Strong 64.7% renter-occupied housing share supporting tenant demand
- Projected 40.6% household formation growth expanding renter pool
- 2000 construction year minimizes near-term capital expenditure pressure
- Risk consideration: Elevated property crime rates require security planning and may impact operations