| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Poor |
| Demographics | 38th | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5151 Myrtle Ave, Sacramento, CA, 95841, US |
| Region / Metro | Sacramento |
| Year of Construction | 1990 |
| Units | 39 |
| Transaction Date | 1995-07-14 |
| Transaction Price | $1,200,000 |
| Buyer | REECE DENNIS L |
| Seller | TOKAI BANK OF CALIFORNIA |
5151 Myrtle Ave, Sacramento CA Multifamily Investment
Renter concentration in the surrounding neighborhood and strong daily-needs retail density point to a durable tenant base, according to WDSuite’s CRE market data. Expect demand supported by commute convenience and amenities, with pricing power moderated by area-level affordability dynamics.
Location fundamentals: The property sits in an Inner Suburb area of the Sacramento-Roseville-Folsom metro with a neighborhood rating of B+. At rank 200 out of 561 metro neighborhoods, the location is competitive among Sacramento neighborhoods, offering investors balanced demand drivers without paying core-urban premiums.
Amenity access is a clear strength. Grocery availability ranks near the top of the metro and is in the 99th percentile nationally, with restaurants and cafes also testing the upper deciles. Childcare density is similarly high. Park and pharmacy counts are limited in the immediate neighborhood, which may slightly temper lifestyle appeal but does not typically constrain workforce-oriented multifamily demand.
For operating conditions, neighborhood occupancy trends sit around the national and metro medians, suggesting stable leasing conditions rather than outsized friction. The share of housing units that are renter-occupied is elevated (above most U.S. neighborhoods), indicating a deep tenant pool and potential for steady absorption across unit types.
Within a 3-mile radius, population and households have expanded in recent years, with additional growth projected. Household sizes are edging smaller, which can support consistent demand for apartments and smaller floor plans. Median incomes in the 3-mile area have risen materially, reinforcing the ability to sustain market rents while maintaining manageable rent-to-income ratios—useful for lease retention through cycles, based on commercial real estate analysis from WDSuite.
Home values in the neighborhood test above national norms. This high-cost ownership backdrop typically sustains reliance on rental housing, supporting occupancy stability and renewal potential, even as renters remain value-sensitive.
Neighborhood safety indicators are mixed but improving. Overall safety performance is near the national median, and the area ranks around the middle of the Sacramento metro (273 out of 561 neighborhoods), indicating conditions comparable to many peer neighborhoods rather than an outlier.
Nationally benchmarked offense levels for property and violent incidents sit below the national average (lower percentiles), but year-over-year trends indicate meaningful declines, with improvement metrics testing in the upper percentiles nationwide. For investors, this suggests monitoring is warranted, yet the recent direction of change is favorable relative to broader trends.
The employment base within commuting range blends healthcare logistics, distribution, technology, and paper products, supporting workforce housing demand and lease retention potential for nearby multifamily.
- Cardinal Health — healthcare logistics (7.6 miles)
- DISH Network Distribution Center — distribution (8.8 miles)
- Intel Folsom FM5 — technology (9.6 miles)
- International Paper — paper products (12.2 miles)
- Xerox State Healthcare — healthcare services (12.5 miles)
5151 Myrtle Ave offers a middle-market Sacramento location with solid renter demand drivers and daily-needs amenity density. The building’s 1990 vintage is newer than the neighborhood’s average stock, positioning it competitively versus 1980s-era assets while leaving room for targeted systems upgrades or a light value-add program to enhance rent positioning. Neighborhood occupancy sits around metro norms; combined with a high share of renter-occupied housing units, this supports a stable leasing environment rather than a lease-up story.
Home values trend higher than national benchmarks, which tends to reinforce rental demand, while area rent-to-income levels suggest manageable affordability pressure that can aid renewal rates. Within a 3-mile radius, population and household counts are projected to grow, expanding the tenant base and supporting long-run absorption. According to CRE market data from WDSuite, these fundamentals align with steady performance expectations, with risk skew driven more by execution (capex and repositioning) than by location demand.
- 1990 vintage relative to older local stock enables competitive positioning with selective modernization
- Elevated renter-occupied share supports depth of tenant demand and occupancy stability
- High daily-needs amenity density (grocers, restaurants, childcare) supports retention and leasing velocity
- Ownership costs above national norms reinforce reliance on rental housing, aiding pricing power
- Risks: limited park/pharmacy options nearby and safety metrics below national averages in some categories—mitigated by improving trendlines