| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 55th | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 615 Healdsburg Ave, Santa Rosa, CA, 95401, US |
| Region / Metro | Santa Rosa |
| Year of Construction | 2007 |
| Units | 79 |
| Transaction Date | 2019-06-12 |
| Transaction Price | $28,850,000 |
| Buyer | Six1Five Apartments LLC |
| Seller | The Wolf Company |
615 Healdsburg Ave Santa Rosa Multifamily Investment
This 79-unit property built in 2007 operates in a neighborhood with 100% occupancy and strong rental demand fundamentals, according to CRE market data from WDSuite.
The property operates within Santa Rosa's Inner Suburb neighborhood, which ranks 12th among 138 metro neighborhoods with an A-rating and demonstrates exceptional rental market fundamentals. Neighborhood-level occupancy stands at 100%, ranking first in the metro area and placing in the 100th national percentile, while 87.6% of housing units are renter-occupied—the second-highest share regionally and in the top national percentile.
Built in 2007, this property represents newer construction compared to the neighborhood average of 1952, positioning it competitively for reduced near-term maintenance requirements and stronger tenant appeal. The area demonstrates strong amenity density with top-tier rankings for restaurants, cafes, and parks, supporting tenant retention through walkable access to daily needs.
Demographics within a 3-mile radius show a stable renter base of approximately 110,900 residents, with household income growth of 40.7% over the past five years to a median of $88,694. Forecasted data suggests continued household formation with a 40% increase in total households projected through 2028, expanding the potential tenant pool and supporting sustained rental demand.
Median contract rents in the neighborhood reach $1,621, reflecting the 82nd national percentile, while maintaining a rent-to-income ratio that suggests manageable affordability for area renters. Home values averaging $567,429 with 28.6% appreciation over five years reinforce rental demand as elevated ownership costs sustain renter reliance on multifamily housing.
The neighborhood demonstrates mixed safety metrics with property crime rates at 1,980 incidents per 100,000 residents, ranking 133rd among 138 metro neighborhoods and placing in the 11th national percentile. However, recent trends show improvement with property crime declining 26.4% year-over-year, ranking in the 70th percentile nationally for crime reduction.
Violent crime rates remain relatively contained at 111 incidents per 100,000 residents, with a notable 42.9% decline over the past year, placing the neighborhood in the 82nd percentile nationally for violent crime improvement. Investors should monitor ongoing safety trends and consider security enhancements as part of property management strategy.
The Santa Rosa submarket benefits from corporate presence anchored by major logistics and distribution operations within commuting distance.
- FedEx — logistics and distribution (6.4 miles) — HQ
This 79-unit property capitalizes on exceptional neighborhood-level rental fundamentals, with 100% occupancy rates and 87.6% renter-occupied housing supporting consistent demand. The 2007 construction year provides competitive positioning with reduced capital expenditure needs compared to the area's older housing stock averaging 1952. Demographic projections indicate household growth of 40% through 2028, expanding the tenant base while home values exceeding $567,000 reinforce rental demand as ownership costs remain elevated.
Net operating income averages $13,552 per unit in the neighborhood, ranking 7th among metro neighborhoods and placing in the 92nd national percentile according to multifamily property research from WDSuite. The Inner Suburb location provides amenity access with top-tier restaurant and cafe density while maintaining strong rental market fundamentals that support stable cash flows.
- Neighborhood-level 100% occupancy ranking first among 138 metro areas
- 40% projected household growth through 2028 expanding tenant pool
- 2007 construction providing competitive positioning and reduced maintenance needs
- High home values sustaining rental demand as ownership costs remain elevated
- Risk consideration: Property crime rates above metro average requiring security management