| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 81st | Best |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1797 Shattuck Ave, Berkeley, CA, 94709, US |
| Region / Metro | Berkeley |
| Year of Construction | 2005 |
| Units | 65 |
| Transaction Date | 2018-09-07 |
| Transaction Price | $57,750,000 |
| Buyer | GEDR HILLSIDE LLC |
| Seller | CLPF HILLSIDE VILLAGE LP |
1797 Shattuck Ave Berkeley Multifamily Opportunity
Positioned in Berkeley’s Urban Core, this 65-unit asset benefits from deep renter demand supported by high neighborhood renter concentration and strong amenities, according to WDSuite’s CRE market data. Neighborhood occupancy trends should be monitored, but the location’s fundamentals and high home values support durable multifamily demand.
Located in Berkeley’s Urban Core, the property sits within a neighborhood rated A- and ranked 111 out of 469 metro neighborhoods — top quartile among Oakland-Berkeley-Livermore locations. Amenity access is a differentiator: restaurant and cafe density place the area in the top quartile nationally, and grocery access also rates well compared with neighborhoods nationwide. Parks and pharmacies are less concentrated within the neighborhood footprint, which is a consideration for some residents.
Schools are a local strength. Average school ratings sit at the top of metro rankings (1 of 469) and top nationally, supporting family-oriented renter appeal and lease retention. Median asking rents in the neighborhood are elevated and have grown over the past five years, while average NOI per unit ranks in the top quartile nationally — signals of pricing power when assets are well-positioned, based on CRE market data from WDSuite.
Tenure patterns support multifamily demand: the neighborhood’s share of renter-occupied housing units is high, indicating a deep tenant base. At the same time, the reported neighborhood occupancy rate is below metro peers (ranked near the bottom of 469), so asset-level leasing strategy and concessions management matter for stability.
Within a 3-mile radius, demographics show modest population growth and an increase in households, with high household incomes alongside elevated home values. This high-cost ownership market tends to sustain reliance on multifamily housing and supports pricing, while also warranting attention to rent-to-income ratios for lease management.
Vintage context: the asset was built in 2005 in a submarket where the average construction year is much older. That relative youth can improve competitive positioning versus older stock, though investors should underwrite ongoing system maintenance and selective modernization to meet current renter expectations.
Safety indicators are mixed and should be evaluated in underwriting. Compared with other Oakland-Berkeley-Livermore neighborhoods, this area ranks toward the higher-crime end (crime rank 438 out of 469), and national comparisons place it in lower safety percentiles. Recent estimates indicate property crime has eased year over year, while violent crime moved higher; trends can vary by block and should be assessed with current data and on-site observations.
For investors, this translates into practical considerations: security features, professional management presence, and daytime activation from nearby employers and amenities can support tenant experience and retention. Always compare asset-specific incident reports to broader neighborhood trends when forming assumptions.
Proximity to major employers in the East Bay and San Francisco CBD underpins workforce housing demand and commute convenience for residents. Notable nearby employers include Clorox, Gap, AIG, Salesforce, and Charles Schwab.
- Clorox — consumer products HQ (4.9 miles) — HQ
- Gap — retail apparel corporate offices (8.9 miles) — HQ
- Aig — insurance offices (8.9 miles)
- Salesforce.com — software HQ (8.9 miles) — HQ
- Charles Schwab — financial services HQ (9.0 miles) — HQ
1797 Shattuck Ave offers scale (65 units) in a top-quartile Berkeley neighborhood with strong amenity access, top-rated schools, and a high concentration of renter-occupied housing units. Elevated home values in the area support rental demand and potential pricing power. The 2005 vintage positions the asset competitively versus older local stock, while still leaving room for targeted upgrades to drive rents and retention. According to CRE market data from WDSuite, neighborhood NOI per unit trends are nationally strong, though current neighborhood occupancy ranks weaker relative to metro peers — placing emphasis on leasing execution.
Within a 3-mile radius, modest population and household growth, high incomes, and rising asking rents point to a durable tenant base. Investors should balance these fundamentals against neighborhood safety considerations and affordability pressure when setting renewal and concession strategies.
- Berkeley Urban Core location with top-rated schools and dense amenities supporting retention
- 2005 vintage offers competitive position versus older stock with selective value-add potential
- High home values reinforce reliance on rentals, supporting pricing power and lease stability
- Strong NOI per unit trends locally (per WDSuite), with focus on disciplined leasing to offset softer neighborhood occupancy
- Risk: neighborhood safety metrics trail metro and national benchmarks; incorporate security and management measures