| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 69th | Good |
| Amenities | 47th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 19983 Forest Ave, Castro Valley, CA, 94546, US |
| Region / Metro | Castro Valley |
| Year of Construction | 1988 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
19983 Forest Ave Castro Valley Multifamily Investment
This 20-unit property benefits from neighborhood-level occupancy rates approaching 99%, suggesting strong rental demand fundamentals according to CRE market data from WDSuite.
Castro Valley's inner suburb character combines residential stability with proximity to major Bay Area employment centers. The neighborhood ranks in the top quartile nationally for housing metrics among 469 metro neighborhoods, supported by median household incomes of $111,080 and home values approaching $900,000. With 27.7% of housing units renter-occupied, the area maintains a substantial rental base while elevated ownership costs reinforce rental demand for multifamily housing.
Built in 1988, this property aligns with the neighborhood's average construction year of 1974, positioning it competitively within the existing housing stock. The vintage suggests opportunities for value-add improvements while avoiding immediate major capital expenditures typical of older properties. Neighborhood-level occupancy of 98.7% reflects strong tenant retention, ranking in the 93rd percentile nationally and indicating minimal absorption risk.
Demographics within a 3-mile radius show a population of 116,140 with median household income of $119,120, creating a stable renter pool. The area benefits from strong school ratings averaging 4.5 out of 5, ranking in the 94th percentile nationally, which supports family renter retention. Median contract rents of $2,119 provide reasonable affordability relative to local income levels, though rent-to-income ratios warrant monitoring for renewal rates and pricing power.
Property crime rates in the neighborhood show improvement trends, with estimated rates declining 19.4% over the past year. The area ranks around the metro median for overall crime metrics among 469 neighborhoods, placing it in the 48th percentile nationally. Violent crime rates are lower relative to property crime, with recent declines of 18.7% year-over-year suggesting positive trajectory for the area's safety profile.
The Castro Valley area benefits from proximity to established corporate employers that support workforce housing demand, including major headquarters within commuting distance.
- Ryder — logistics and transportation (4.6 miles)
- Caterpillar — industrial equipment offices (5.6 miles)
- Chevron — energy sector headquarters (7.2 miles) — HQ
- The Clorox Company — consumer products (8.9 miles)
- Ross Stores — retail headquarters (9.8 miles) — HQ
This Castro Valley property presents solid fundamentals anchored by exceptional neighborhood occupancy rates of 98.7%, ranking in the 93rd percentile nationally. The 1988 construction year positions the asset for potential value-add improvements while avoiding immediate major capital requirements. Strong local demographics, including median household incomes exceeding $111,000 within the 3-mile radius, support tenant quality and retention rates.
Commercial real estate analysis from WDSuite indicates the neighborhood ranks in the top quartile nationally for housing metrics, with home values approaching $900,000 reinforcing rental demand as ownership remains costly. The area's proximity to major Bay Area employers like Chevron and Ross Stores headquarters provides employment stability, while projected household growth of 29.2% over five years suggests expanding renter pool depth.
- Neighborhood occupancy of 98.7% ranks in 93rd percentile nationally
- 1988 vintage allows value-add potential without immediate major capex
- Proximity to Fortune 500 headquarters supports employment stability
- High ownership costs ($897K median home value) reinforce rental demand
- Risk: Rent-to-income ratios require monitoring for pricing power limits