| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 50th | Fair |
| Amenities | 17th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20420 Soulsbyville Rd, Soulsbyville, CA, 95372, US |
| Region / Metro | Soulsbyville |
| Year of Construction | 1999 |
| Units | 25 |
| Transaction Date | 2007-11-30 |
| Transaction Price | $5,150,000 |
| Buyer | Sonora Memory Care (Lifestyles) |
| Seller | Michael D. & Jenifer J. Thompson |
20420 Soulsbyville Rd Soulsbyville Multifamily Investment
Built in 1999 with 25 units, this asset sits in a high-cost ownership pocket where renter demand can support steady leasing, according to WDSuite’s CRE market data. Neighborhood occupancy is measured for the area, not the property, and trends suggest stable but competitive conditions for professionally managed units.
Soulsbyville offers a suburban setting with quieter streets and limited retail density, favoring tenants who prioritize space and value over immediate walkability. Area amenities are thinner than urban cores, with restaurants and daily-needs options spread across the Sonora, CA metro; investors should underwrite car-centric living and resident reliance on regional corridors for shopping and services.
Neighborhood fundamentals point to a market where rental housing competes with ownership but remains relevant. The neighborhood ranks above the metro median for housing indicators (rank 3 of 26), while the typical home value sits in a high-cost range relative to national norms (upper national percentiles), which can sustain renter reliance on multifamily housing and support pricing discipline. Median contract rents at the neighborhood level track mid-market nationally, and the rent-to-income profile indicates manageable affordability, helping lease retention.
Renter-occupied share in the neighborhood is comparatively low, signaling a smaller but durable tenant base; underwriting should emphasize marketing reach and product differentiation rather than volume alone. Within a 3-mile radius, population and household counts have grown modestly and are projected to continue expanding, implying a gradual renter pool expansion that supports occupancy stability over a multi-year hold, based on commercial real estate analysis from WDSuite.
Average school ratings in the neighborhood sit near the midpoint nationally, and the area’s newer-vintage multifamily relative to the metro’s older stock can be a competitive edge for modern layouts and systems. Given spread-out amenities, investors should consider on-site conveniences and resident experience programming to offset limited walkable options and drive retention.
Safety indicators for the neighborhood are mixed in a metro context. Relative to the 26 Sonora-area neighborhoods, safety ranks in the lower half, while national comparisons place the area around the middle of the pack for both property and violent offense rates. Recent year-over-year changes show some volatility, so prudent operators typically incorporate lighting, access control, and resident engagement to support on-site safety perception and retention.
As with any submarket-level view, conditions can vary block to block. Use local comps and recent incident trends to refine assumptions, and align security measures with underwriting for leasing stability.
This 25-unit property was built in 1999, newer than the neighborhood’s average vintage, which can reduce near-term capital exposure and improve competitive positioning versus older stock. In a high-cost ownership market (elevated value-to-income ratios nationally), renters often remain in multifamily longer, supporting occupancy stability and pricing power. Neighborhood comps indicate strong operating margins, and, according to CRE market data from WDSuite, area rents relative to incomes suggest manageable affordability that can aid lease retention.
Demand signals are steady rather than frothy: the neighborhood’s renter concentration is smaller, but within a 3-mile radius population and households have been growing and are expected to keep expanding, pointing to a gradually larger tenant base. Amenity density is limited, so on-site experience and management execution are important levers. Overall, the thesis favors durable cash flow with measured upside from light value-add or amenity programming, while monitoring neighborhood safety trends and metro-level absorption.
- 1999 vintage offers relative competitiveness and potentially lower near-term CapEx versus older neighborhood stock.
- High-cost ownership landscape supports renter reliance on multifamily and aids pricing discipline.
- Neighborhood comps show strong NOI per unit and rents aligned with incomes, supporting retention.
- 3-mile radius demographics indicate gradual tenant base expansion, supporting occupancy stability over time.
- Key risks: limited amenity density, smaller renter-occupied share, and mixed safety trends in the metro context.