| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 44th | Fair |
| Amenities | 67th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 100 Greenley Rd, Sonora, CA, 95370, US |
| Region / Metro | Sonora |
| Year of Construction | 1980 |
| Units | 34 |
| Transaction Date | 2022-12-22 |
| Transaction Price | $845,500 |
| Buyer | DHI SONORA GARDEN APARTMENTS LP |
| Seller | JOINER LIMITED PARTNERSHIP |
100 Greenley Rd Sonora Multifamily Value-Add Opportunity
High renter concentration and a high-cost ownership market in the surrounding neighborhood point to durable tenant demand, according to WDSuite’s CRE market data.
Positioned in a suburban pocket of Sonora, the neighborhood rates competitively within the metro — ranked 4th of 26 neighborhoods (top quartile). Amenity access is solid for a smaller market, with restaurants, cafes, parks, and pharmacies all ranking in the stronger tier locally, supporting day-to-day convenience and renter retention. Grocery access is mid-pack among Sonora subareas.
Renter-occupied housing has the highest concentration in the metro (1st of 26), signaling a deep tenant base for a 34-unit asset. Neighborhood occupancy trends sit around the metro median, suggesting stable but still leasable conditions. Median contract rents track moderate for the region, while elevated home values (top quartile nationally) lean toward sustained reliance on rentals rather than ownership, which can support pricing power when managed carefully.
Within a 3-mile radius, recent demographics show flat-to-lightly negative population change alongside a small increase in households, implying smaller household sizes and sustained apartment demand. Forward-looking projections indicate population growth and a notable increase in households over the next five years, expanding the renter pool and supporting occupancy stability. Income profiles are trending higher, which can underpin rent growth for renovated product when aligned with local affordability.
The average neighborhood building stock skews older (1950s), while this property’s 1980 vintage is newer than local norms. That positioning can be competitively advantageous versus older stock, while still allowing targeted value-add and system upgrades to capture rent premiums. School ratings in the neighborhood trail metro and national norms, which may require more targeted leasing strategies for family renters.
Safety indicators are mixed and should be contextualized. Overall crime sits near the metro median (14th of 26), translating to an average standing locally. Compared with neighborhoods nationwide, the area trends around the middle for overall safety.
Property offenses rank weaker within the metro (23rd of 26) and compare below average nationally; however, the most recent year shows a meaningful improvement, with declines in property offenses placing the neighborhood in the top quartile for year-over-year improvement versus peers nationwide. Violent offense levels track below average nationally but have also edged down over the last year. Investors may factor these trends into underwriting and tenant retention strategies, recognizing the recent directional improvement.
A 1980-vintage, 34-unit asset in a metro-leading renter neighborhood offers a compelling balance of demand depth and operational upside. The submarket shows average occupancy relative to Sonora peers, while elevated ownership costs (top tier nationally by value-to-income) reinforce sustained reliance on rental housing. According to CRE market data from WDSuite, amenity access is a relative strength locally, supporting retention and day-to-day livability that benefits stabilized multifamily operations.
The property is newer than much of the local stock, creating a competitive angle versus 1950s-era assets. Within a 3-mile radius, flat recent population alongside slight household growth points to smaller household sizes and resilient apartment demand, with forward-looking projections for population and household increases that expand the renter pool. Together with moderate rent levels and rising incomes, targeted renovations and modernization can position the asset to capture incremental rent while managing affordability pressure and lease retention.
- Metro-leading renter concentration supports a deep tenant base and leasing durability.
- 1980 vintage is newer than neighborhood stock, enabling value-add and competitive positioning.
- Elevated ownership costs sustain rental reliance, aiding pricing power for well-managed product.
- 3-mile projections indicate population and household growth, expanding the renter pool.
- Risks: average occupancy locally, lower school ratings, and below-average national standing for property offenses warrant underwriting discipline.