| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 69th | Good |
| Amenities | 47th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20551 Forest Ave, Castro Valley, CA, 94546, US |
| Region / Metro | Castro Valley |
| Year of Construction | 1987 |
| Units | 21 |
| Transaction Date | 2007-04-23 |
| Transaction Price | $2,976,000 |
| Buyer | FOREST AVENUE TOWNHOMES LLC |
| Seller | DOSSANTOS ARNOLD J |
20551 Forest Ave Castro Valley Multifamily Investment
This 21-unit property benefits from neighborhood-level occupancy of 98.7%, ranking in the top 10% nationally among metro neighborhoods. Strong renter retention fundamentals are supported by limited new supply and stable demand drivers, according to CRE market data from WDSuite.
Castro Valley presents a stable inner suburb environment with strong occupancy fundamentals. The neighborhood maintains 98.7% occupancy, ranking among the top quartile of the 469 Oakland-Berkeley-Livermore metro neighborhoods. This occupancy stability reflects limited rental supply pressure and consistent tenant retention patterns that support predictable cash flows.
The area demonstrates solid demographic fundamentals within a 3-mile radius, with median household income of $117,916 and projected growth to $160,321 by 2028. Population growth of 2.4% over the past five years, combined with forecast household expansion, supports continued rental demand. Approximately 44.5% of housing units are renter-occupied, creating a substantial tenant pool for multifamily properties.
Built in 1987, this property aligns with the neighborhood's average construction year of 1974, positioning it competitively within the local housing stock. The vintage suggests potential for value-add improvements while avoiding the capital expenditure demands of significantly older properties. Median contract rents of $2,295 reflect the area's pricing power, with 47.1% growth over five years indicating sustained rental demand.
Home values averaging $897,147 reinforce rental market dynamics, as elevated ownership costs sustain renter reliance on multifamily housing. The neighborhood offers strong educational amenities with average school ratings of 4.5 out of 5, ranking in the top quartile nationally. Childcare density ranks in the 96th percentile nationally, supporting family-oriented tenant retention.
Safety metrics show the neighborhood performing near metro averages among the 469 Oakland-Berkeley-Livermore neighborhoods. Property crime rates of 432 incidents per 100,000 residents rank around the median, while violent crime rates of 196 per 100,000 residents place the area in the lower quintile of metro neighborhoods. Both property and violent crime trends show improvement, declining 19.4% and 18.7% respectively over the past year.
The overall crime ranking places this neighborhood at roughly the 48th percentile nationally, indicating moderate safety conditions relative to comparable suburban markets. For multifamily investors, these metrics suggest stable tenant retention without significant safety-related turnover concerns, though property management should maintain standard security protocols and lighting.
The Castro Valley area benefits from proximity to major corporate employers, providing workforce housing opportunities for professional tenants. Key employment anchors within reasonable commuting distance include established corporations and headquarters operations.
- Ryder — logistics and transportation (4.4 miles)
- Caterpillar — industrial equipment (5.4 miles)
- Chevron — energy and petroleum HQ (7.4 miles)
- The Clorox Company — consumer products (8.9 miles)
- Ross Stores — retail corporate HQ (9.9 miles)
This Castro Valley property offers compelling fundamentals anchored by exceptional neighborhood occupancy of 98.7%, ranking in the top quartile nationally. The 1987 construction vintage provides value-add renovation opportunities while avoiding extensive capital requirements of older properties. Demographic projections show household income growth from $117,916 to $160,321 by 2028, supporting rent growth potential and tenant quality.
The inner suburb location benefits from proximity to major corporate employers including Chevron headquarters and established Bay Area corporations, creating stable employment-driven rental demand. With 44.5% of area housing units renter-occupied and elevated home values reinforcing rental market reliance, multifamily property research indicates sustained tenant pool depth. Crime trends show improvement across both property and violent categories, supporting tenant retention stability.
- Exceptional 98.7% neighborhood occupancy ranking top quartile nationally
- Strong demographic trajectory with 36% projected household income growth by 2028
- Value-add potential from 1987 vintage without extensive capital demands
- Proximity to major Bay Area employment anchors supporting workforce housing demand
- Risk consideration: Monitor rent-to-income ratios and potential ownership competition as market conditions evolve