| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Fair |
| Demographics | 70th | Good |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6600 Montecito Blvd, Santa Rosa, CA, 95409, US |
| Region / Metro | Santa Rosa |
| Year of Construction | 1977 |
| Units | 76 |
| Transaction Date | 2011-04-29 |
| Transaction Price | $8,300,000 |
| Buyer | Bedford Santa Rosa Associates LLC |
| Seller | Argus Financial Corporation |
6600 Montecito Blvd Santa Rosa Multifamily Investment
Owner-tilted neighborhood fundamentals with steady occupancy and high-cost ownership dynamics point to durable renter demand, according to WDSuite’s CRE market data.
Situated in Santa Rosa’s inner suburb of Sonoma County, the property benefits from neighborhood attributes that appeal to family renters and long-term tenants. Local schools are a standout, with the neighborhood’s average school rating ranking 1st out of 138 metro neighborhoods (4.5/5), and park access sits in the top quartile nationally, supporting daily-life livability.
Retail and daily conveniences within the immediate blocks are thinner, with limited cafes, groceries, and pharmacies in the neighborhood compared to the metro. Investors should underwrite some drive-time for shopping and services, while viewing the area’s parks-and-schools profile as a tenant retention advantage.
On performance, neighborhood occupancy is in the 64th percentile nationally, indicating above-median stability, while the share of housing units that are renter-occupied is around one-fifth. For multifamily, that renter concentration implies a more owner-heavy context—often translating to steadier behavior among existing renters but a narrower near-field leasing funnel, which can support retention-focused strategies.
Demographics aggregated within a 3-mile radius show households rising even as population edges down, pointing to smaller household sizes and a larger addressable tenant base. Household incomes are high and have grown meaningfully, and median contract rents have advanced, with additional rent growth projected by 2028 based on CRE market data from WDSuite. Elevated home values relative to incomes (95th percentile nationally) indicate a high-cost ownership market that can sustain multifamily demand, while a rent-to-income ratio near one-third suggests some affordability pressure that owners should manage through lease terms and renewal strategies.
Safety signals are mixed in a way investors should contextualize. Within the Santa Rosa–Petaluma metro, the neighborhood’s crime rank sits closer to the higher-incident end of the 138-neighborhood spectrum, while nationally it compares favorably, landing around the 70th percentile for safety. Recent trend data also point to year-over-year declines in both property and violent offense rates, according to WDSuite’s CRE market data, which supports a cautiously improving trajectory.
Given these cross-currents, investors may assume conditions that are stronger than national averages but less competitive versus top-performing Santa Rosa submarkets, and should emphasize standard property-level measures (lighting, access control, and community engagement) in operations and underwriting.
Nearby corporate employment provides a stable commuter tenant base, with logistics presence supporting workforce demand within typical drive times.
- FedEx Headquarters — logistics operations (7.0 miles)
Built in 1977, the asset offers a mid-vintage profile with potential to enhance competitiveness through targeted interior updates and systems modernization, while avoiding the heavier capital needs of 1960s-era stock. Neighborhood occupancy sits above the national median, schools rank at the top of the metro, and high ownership costs in Santa Rosa reinforce renter reliance on multifamily housing—factors that support leasing stability and retention.
Within a 3-mile radius, households are increasing even as population trends modestly lower, expanding the renter pool and supporting demand for well-managed units. At the same time, a rent-to-income ratio near one-third introduces affordability pressure that warrants disciplined lease management. According to CRE market data from WDSuite, the area’s elevated home values and solid demographic incomes underpin pricing power, while a relatively owner-heavy neighborhood mix points to a retention-led operating thesis.
- Mid-vintage 1977 asset with value-add potential via interior refresh and systems upgrades
- Above-median neighborhood occupancy and top-ranked schools support leasing stability
- High-cost ownership market sustains multifamily demand and strengthens retention
- 3-mile household growth enlarges the tenant base despite modest population softness
- Risk: rent-to-income near one-third suggests affordability pressure; prioritize renewal strategy and expense control