| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 19th | Poor |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1054 Atlantic St, Salinas, CA, 93905, US |
| Region / Metro | Salinas |
| Year of Construction | 1973 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1054 Atlantic St, Salinas Multifamily Investment
Neighborhood occupancy is in the mid‑90s with a high share of renter‑occupied units, supporting demand durability according to WDSuite’s CRE market data.
This Urban Core pocket of Salinas scores well for everyday convenience, with grocery, restaurant, and pharmacy access ranking in the top quartile nationally; the area’s overall amenity rank places it competitive among 95 metro neighborhoods (ranked 10th of 95). For investors, this concentration of services tends to aid leasing velocity and day‑to‑day retention.
Neighborhood apartment occupancy is ~95.9%, above metro median performance, and the renter‑occupied share of housing units is elevated (around seven in ten). Taken together, the depth of the renter base supports near‑term leasing stability and a broader pool of prospects for a 38‑unit property.
Construction trends skew older locally (average stock late‑1960s). With a 1973 vintage, the asset is slightly newer than the neighborhood norm, which can be competitively helpful versus older properties; investors should still plan for targeted systems upgrades or value‑add interior refresh to meet current renter expectations.
Within a 3‑mile radius, demographics point to steady population and household growth over recent years with further household expansion projected, indicating a larger tenant base and potential support for occupancy stability. Elevated home values relative to incomes (top decile nationally) signal a high‑cost ownership market, which tends to reinforce renter reliance on multifamily housing and can sustain pricing power in professionally managed assets.
School ratings trend below national medians and childcare density is limited, which can be a consideration for family‑oriented renters and may require positioning on value, finishes, or larger floor plans. Even so, everyday retail and parks access compare favorably to national benchmarks, a combination that can offset some household amenity needs.
Safety metrics are mixed. Overall crime ranks below the metro median (68th of 95 neighborhoods), indicating higher reported incidents than many Salinas areas. Compared with neighborhoods nationwide, property‑related offense rates sit modestly better than average (around the 60th percentile), while violent‑offense measures are closer to the national middle (around the 40th percentile). Investors typically underwrite to this by emphasizing on‑site lighting, access controls, and tenant screening, and by aligning rents to neighborhood expectations.
Regional employment anchors in the broader Bay Area tech corridor provide diversified white‑collar demand within commuting range, which can support renter retention for residents with hybrid schedules. Notable nearby employers include IBM and Netflix.
- IBM Silicon Valley Lab — enterprise software R&D (35.7 miles)
- Netflix — streaming & media (43.8 miles) — HQ
The property’s 1973 vintage sits slightly newer than the neighborhood’s late‑1960s average, offering a practical platform for value‑add upgrades while remaining competitive against older stock. Neighborhood occupancy is strong and renter concentration is high, indicating depth of tenant demand; based on CRE market data from WDSuite, amenity access scores in the upper national quartiles, supporting leasing and day‑to‑day livability.
Longer‑term fundamentals are shaped by a high‑cost ownership environment and steady household growth within a 3‑mile radius, both of which can sustain renter reliance on multifamily housing and support occupancy stability. Key underwriting considerations include below‑median school ratings, mixed safety readings relative to the metro, and monitoring rent‑to‑income levels to manage retention risk.
- Strong neighborhood occupancy and high renter concentration support leasing stability
- Amenity‑rich Urban Core location aids retention and absorption
- 1973 vintage offers actionable value‑add and systems modernization potential
- High‑cost ownership market reinforces demand for professionally managed rentals
- Risks: below‑median school ratings, mixed safety versus metro, affordability pressure to monitor