| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 71st | Good |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6401 Montecito Blvd, Santa Rosa, CA, 95409, US |
| Region / Metro | Santa Rosa |
| Year of Construction | 1976 |
| Units | 31 |
| Transaction Date | 2007-08-27 |
| Transaction Price | $3,775,000 |
| Buyer | PARSONS LOUIS D W |
| Seller | ELLINOR LINDA |
6401 Montecito Blvd Santa Rosa Multifamily Investment
Neighborhood fundamentals point to steady renter demand and high occupancy, according to WDSuite’s CRE market data. Investors should note that the neighborhood (not the property) shows strong occupancy stability that supports consistent leasing performance.
Positioned in Santa Rosa’s inner-suburban fabric, the neighborhood ranks 27 out of 138 metro neighborhoods (A- rating), indicating it is competitive among Santa Rosa-Petaluma submarkets for multifamily. Neighborhood occupancy is high and places in the top quartile nationally, a constructive backdrop for lease-up and retention.
Local amenity access is mixed: restaurants score strong within the metro (rank 12 of 138) and grocery access is also favorable (rank 20 of 138), reinforcing day-to-day convenience for residents. By contrast, cafes, parks, and pharmacies are limited within the neighborhood footprint (ranks 138 of 138), so residents may rely on nearby corridors for those needs.
Ownership costs in the area are elevated (home values at a high national percentile), which typically sustains reliance on rental housing and can support pricing power. Median contract rents in the neighborhood are also high by national standards, yet rent-to-income sits around the national mid-to-upper range, suggesting manageable affordability pressure and potential for stable lease retention.
Tenure patterns indicate a meaningful renter-occupied share in the neighborhood (above the national median), pointing to a sufficiently deep tenant base. Within a 3-mile radius, demographics show modest population softening over recent years but a slight increase in households, and projections indicate further household growth alongside smaller average household sizes. For investors, this implies a steady or expanding renter pool even if population growth is muted, which can support occupancy.
Vintage in this submarket trends early-1970s on average; the subject a0property’s 1976 construction is somewhat newer than the local average. That positioning can be competitive versus older stock, though investors should still plan for system modernization and selective value-add to meet current renter expectations.
Safety indicators are broadly in line with, or modestly better than, national norms. Overall crime performance sits slightly above the national median, and violent offenses trend stronger, placing the neighborhood in a safer position than many areas nationwide. Within the Santa Rosa-Petaluma metro, violent incident rates are competitive among peer neighborhoods. Property offenses have shown a recent uptick on a year-over-year basis, so prudent security, lighting, and package-management measures remain advisable for asset operations.
Proximity to logistics and distribution employment supports workforce housing demand and commute convenience for renters. The following nearby employer anchors the local employment base cited here.
- FedEx Headquarters — logistics (6.9 miles)
This 31-unit, 1976-vintage property benefits from a neighborhood with high occupancy and strong income fundamentals, supporting durable multifamily demand and stable leasing. Elevated home values signal a high-cost ownership market, which can reinforce renter reliance on multifamily housing and underpin pricing power. According to CRE market data from WDSuite, the neighborhood (not the property) posts top-quartile national occupancy and above-median renter concentration, aligning with consistent tenant demand.
The 1976 construction is somewhat newer than the area’s early-1970s average, suggesting competitive positioning versus older stock while still offering scope for modernization and value-add. Amenity access is strongest for restaurants and groceries, while limited nearby parks, cafes, and pharmacies and a recent uptick in property offenses are considerations for operations and resident experience. Within a 3-mile radius, household counts are edging higher and are forecast to grow further as average household size declines, which can expand the renter pool and support occupancy stability.
- High neighborhood occupancy and strong income levels support leasing consistency
- Elevated ownership costs sustain rental demand and potential pricing power
- 1976 vintage offers competitive positioning with value-add and system upgrades
- Household growth within 3 miles points to a larger renter pool over time
- Risks: limited nearby parks/cafes/pharmacies and recent property offense uptick