| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 41st | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 471 W College Ave, Santa Rosa, CA, 95401, US |
| Region / Metro | Santa Rosa |
| Year of Construction | 2007 |
| Units | 98 |
| Transaction Date | 2005-02-22 |
| Transaction Price | $2,100,000 |
| Buyer | WEST COLLEGE APARTMENTS LP |
| Seller | DENENBERG LAURA BAILEY |
471 W College Ave, Santa Rosa Multifamily Positioning
Neighborhood occupancy remains solid with a deep renter-occupied housing base, according to WDSuite s CRE market data, supporting stable tenancy for a 2007 vintage asset relative to older local stock.
The property sits in Santa Rosa s Urban Core, where everyday conveniences are a notable strength. Neighborhood amenities score in the top quartile among 138 metro neighborhoods, with strong access to groceries, pharmacies, restaurants, and cafes (nationally, these amenity densities trend well above average). Limited park access is a local gap, which investors should weigh for resident experience.
For investors screening rent roll durability, the neighborhood shows an above-median occupancy rate among 138 Santa Rosa-Petaluma neighborhoods and a high share of housing units that are renter-occupied. Combined, these signals point to a sizable local tenant base and support for leasing stability. Median contract rents in the neighborhood trend above national norms, while the rent-to-income relationship indicates manageable affordability pressure, which can aid retention and renewal strategies.
Asset vintage is a differentiator: with a 2007 construction year versus an older neighborhood average, the property should compete well against legacy stock. Even so, investors should budget for mid-life systems upkeep and selective modernization to sustain positioning and capture premium demand.
Within a 3-mile radius, households have grown despite a modest population dip in recent years, and forward-looking forecasts indicate population and household expansion by the latter half of the decade. This suggests a larger tenant base over time, which can support occupancy and absorption for well-located multifamily assets. Neighborhood NOI per unit performance ranks in the competitive tier locally (top quartile metro rank), aligning with investor interest in stabilized income characteristics.
Home values in the area are elevated by national standards, and value-to-income ratios trend high. In practice, a high-cost ownership market often reinforces reliance on rental housing, underpinning depth of demand for quality multifamily options and supporting pricing power when paired with strong operations.
Safety dynamics are mixed in a metro context. The neighborhood s overall crime position ranks 102 out of 138 Santa Rosa-Petaluma neighborhoods, indicating higher incidence than the metro median, while its national standing is around the midpoint (about the 50th percentile). Property-related offenses rank weaker locally and sit in a lower national percentile, but both property and violent offense rates have declined year over year, signaling recent improvement momentum.
For underwriting, a prudent approach is to account for slightly higher security and loss-prevention costs relative to metro averages, while recognizing the directional improvement trend. Monitoring quarterly updates can help validate whether recent declines sustain.
Nearby employment includes parcel logistics that supports a broad workforce tenant base with reasonable commute access.
- FedEx Headquarters — parcel logistics (5.8 miles)
This 98-unit, 2007-built asset benefits from a deep renter-occupied housing base and above-median neighborhood occupancy, supporting stable leasing in a high-cost ownership market. Amenities are a relative strength, with top-quartile access to daily needs, while limited park availability and mixed school ratings warrant attention to onsite and nearby lifestyle features. Based on commercial real estate analysis from WDSuite, the neighborhood s income profile and rent-to-income balance indicate manageable affordability pressure that can support retention and disciplined rent growth management.
Relative to older local stock, the vintage provides competitive positioning, though mid-life capital planning (mechanicals, exterior refresh, interiors) can help sustain NOI. Demographic data aggregated within a 3-mile radius point to growth in households and forecast expansion in both population and incomes, suggesting a larger tenant pool and ongoing support for occupancy. Safety trends show room for improvement but are moving in a favorable direction, which investors can track alongside operational metrics.
- Deep renter-occupied housing base and above-median neighborhood occupancy support stable tenancy
- 2007 vintage competes well versus older stock; plan for mid-life systems and selective renovations
- High-cost ownership market reinforces rental demand, aiding pricing power with solid operations
- 3-mile radius forecasts indicate expanding tenant base and income growth supporting occupancy
- Risk: safety ranks weaker than metro median and limited parks; budget for security and onsite amenities