| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 78th | Best |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2310 Fulton St, Berkeley, CA, 94704, US |
| Region / Metro | Berkeley |
| Year of Construction | 2006 |
| Units | 74 |
| Transaction Date | 2022-01-28 |
| Transaction Price | $42,800,000 |
| Buyer | DWF VI VMG STADIUM LLC |
| Seller | 2310 FULTON LLC |
2310 Fulton St Berkeley Multifamily Investment
Urban Core location with high renter concentration and elevated ownership costs supports durable tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy is measured for the area, not the property, and points to steady leasing conditions with room to optimize.
Situated in Berkeley’s Urban Core, the property benefits from one of the metro’s strongest amenity concentrations — parks, groceries, cafes, pharmacies, and restaurants rank in the top percentiles nationally — creating daily-life convenience that supports lease retention and competitive positioning for multifamily assets.
Neighborhood tenure skews renter-occupied at 67.7%, indicating a deep tenant base and consistent multifamily demand. Median neighborhood rents sit at a high national percentile, while the rent-to-income ratio signals affordability pressure to monitor; disciplined renewals and value articulation can help sustain pricing power without elevating turnover risk.
Housing stock in the surrounding area trends older (average 1940 construction year), which can enhance the relative competitiveness of a 2006 asset through more contemporary layouts and building systems. This positioning can reduce near-term capital friction while still leaving room for targeted upgrades to drive NOI.
Within a 3-mile radius, population and households have grown in recent years, with forecasts indicating further household expansion alongside smaller average household sizes. These dynamics support renter pool expansion and absorption prospects for well-located properties near transit, employment, and services. High home values locally point to a high-cost ownership market, which tends to reinforce reliance on multifamily housing and can underpin lease retention.
Neighborhood performance metrics compare favorably across the Oakland-Berkeley-Livermore metro: the area earns an A neighborhood rating and ranks 20 out of 469 metro neighborhoods overall (competitive among metro peers). School quality also tests well above national norms, supporting longer resident tenure for family households.
Occupancy at the neighborhood level is approximately 88% and has eased over the past five years; this is a neighborhood statistic, not property performance. For investors, that suggests scope to outperform through asset-specific operations, marketing, and targeted unit upgrades that differentiate from older nearby inventory.
Safety conditions should be evaluated with a comparative lens. This neighborhood ranks 451 out of 469 Oakland-Berkeley-Livermore metro neighborhoods for crime, placing it near the bottom of the metro and below national norms (around the 10th percentile nationally). Property and violent offense rates have trended higher year over year at the neighborhood level. These are area-level indicators, not property-specific incidents.
For underwriting, prudent measures such as access control, lighting, and resident engagement can help mitigate risk and support retention. Investors commonly balance these factors against the area’s strong amenity base and renter demand when assessing long-term operations.
Proximity to East Bay and San Francisco corporate centers anchors a diverse white-collar employment base, supporting steady leasing from commuters seeking convenience to headquarters and major offices. The nearby roster includes consumer products, retail, financial services, and technology.
- Clorox — consumer products (4.4 miles) — HQ
- Gap — retail & corporate offices (8.6 miles) — HQ
- Aig — insurance (8.6 miles)
- Salesforce.com — enterprise software (8.7 miles) — HQ
- Charles Schwab — financial services (8.7 miles) — HQ
Built in 2006 with 74 units, the property stands out against an older neighborhood housing stock, offering a competitive vintage that can reduce near-term capital needs while preserving value-add upside through selective renovations and common-area upgrades. High local home values indicate a high-cost ownership market, which typically sustains renter reliance on multifamily housing and supports pricing power over time.
Within a 3-mile radius, recent population and household growth — with forecasts calling for continued household increases and smaller average household sizes — points to a larger tenant base and ongoing demand for professionally managed apartments. At the neighborhood level, occupancy is measured for the area (not the asset) and has softened, suggesting potential to outperform through operations. According to CRE market data from WDSuite, the neighborhood’s amenity density and strong overall ranking relative to the metro underpin long-term leasing fundamentals even as affordability pressure warrants disciplined rent management.
- 2006 construction versus older local stock improves competitive positioning and reduces immediate capex friction
- High-cost ownership market reinforces renter demand and supports lease retention
- 3-mile population and household growth expand the renter pool and support absorption
- Amenity-rich Urban Core location aids marketing, renewals, and long-term occupancy stability
- Risks: neighborhood crime ranks near the bottom of the metro and rent-to-income is elevated — prioritize security, tenant experience, and pricing discipline