Located at Blossom Road & Railroad Avenue in Suisun City, CA. Currently unpriced with a lot size of ±395,960 SF.
Currently Under Contract
|Address||Blossom Road & Railroad Avenue
Suisun City, CA
|Lot Size||±395,960 SF / ±9.1 AC|
|Existing Zoning||Medium Density Residential|
|Comments||Will allow for entitlements|
The medium-density residential (RM) zoning district is applicable to parcels where dwellings developed in the 10.1 to 20 dwelling units per gross acre range are the primary land use. Residential dwelling types in the RM district may include single-family detached dwellings on small lots, two-family dwellings (duplexes or duets), townhomes (attached and detached), multifamily apartments and condominiums, and other dwellings within the specified density and intensity range, as identified in Section 18.08.050. Other residential uses, as well as secondary, public/quasipublic, and other uses may be permitted in this zone, as defined in Table 18.08.02, "Allowable Uses in Residential Zones." The RM zone is consistent with the medium-density residential land use designation in the general plan.
This site at Suisun City is conveniently located near several restaurants, shops, and transportation routes.
Solano County is the most northernly county of the nine counties in the Bay Area. It is located close to the East Bay and Sacramento allowing for access to both.
The 2010 census had a population of 413,344 people in the county, but estimates forecast it has grown closer to 445,000 people currently. The area is a mix of great suburban areas with lots of restaurants, shopping, outdoor activities, waterfront areas, good schools, and reasonable housing costs.
The county is a strong job node of the total Bay Area. It has employers that include Travis Air Force Base, Genentech, Anheuser-Busch, Janssen Pharmaceuticals, Jelly Belly, and Kaiser. These companies are taking advantage of UC Davis's strong educational system to provide a steady stream of employees. Residents can easily access the amenities of the Bay Area and the Napa Valley wine region.
The county is a strong job node of the total Bay Area. It has employers that include Travis Air Force Base, Genentech, Anheuser-Busch, Janssen Pharmaceuticals, Jelly Belly, and Kaiser. The companies are taking advantage of UC Davis' strong educational system to provide a steady stream of employees. Residents can easily access the amenities of the Bay Area and the Napa valley wine region.
Median Household Income
Number of Employees
Median Property Value
The multifamily market in Solano County has remained strong. The area has seen limited development with continued strong rent growth.
The area has seen over the last 5 years an average of 4.7% year over year rent growth. Solano County has added only 877 units while the East Bay area has seen 24% job growth and the Sacramento area has 3.4% unemployment. These economic signs bode well for the multifamily market. There are only 580 units in the pipeline for Solano County, and about half are currently stalled. The average in place rent for Class A apartments built in the last 10 years is $2,200. The overall occupancy rate for the county stands at 96%.
The Suisun City market has a very limited apartment stock with there being only 7 market rate buildings over ten units encompassing a total of 660 units. The last project over 100 units was delivered in 1987. The average year-over-year rent growth for Suisun City for the last 5 years has been 8.5%. The current occupancy rate stands at 95.2%.
NEW DEVELOPMENT SOLANO COUNTY (LAST 10 YEARS)
NEW DEVELOPMENT SUISUN CITY
CLASS A RENT GROWTH
AVERAGE CLASS A RENT