| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 69th | Good |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21019 Baker Rd, Castro Valley, CA, 94546, US |
| Region / Metro | Castro Valley |
| Year of Construction | 2013 |
| Units | 40 |
| Transaction Date | 2007-04-18 |
| Transaction Price | $1,450,000 |
| Buyer | KILLARNEY PROPERTIES |
| Seller | THE LANGON GROUP LLC |
21019 Baker Rd Castro Valley Multifamily Investment
Stabilized renter demand and high neighborhood occupancy support income durability, according to WDSuite’s CRE market data, with newer-vintage product positioning this asset competitively versus older local stock.
Built in 2013, the property is materially newer than the neighborhood’s average 1970s-era buildings, which can reduce near-term capital needs while offering competitive finishes against older inventory. For investors, newer vintage often supports leasing velocity and retention even as the wider market normalizes.
Amenity access is a relative strength: the neighborhood scores competitively within the Oakland-Berkeley-Livermore metro for restaurants, cafes, groceries, and pharmacies, while parkland and childcare options are more limited. This mix typically suits working households that prioritize convenience retail and dining near home.
Rents in the neighborhood sit on the higher end of the national spectrum, and neighborhood occupancy is in the top quartile nationally. In practice, that combination points to solid pricing power with low downtime risk, though day-to-day leasing should still account for household budget sensitivity.
Within a 3-mile radius, demographics indicate a large and diversified tenant base with median incomes that have risen meaningfully over the last five years. Looking ahead to the next five years, forecasts show modest population contraction but an increase in total households alongside slightly smaller average household sizes; for multifamily, that typically means a larger tenant base and supports occupancy stability even if growth is uneven. Tenure within 3 miles is roughly balanced, with about half of housing units renter-occupied, providing depth for multifamily demand. Elevated home values in the neighborhood reinforce renter reliance on multifamily housing and can aid lease retention.
Safety outcomes in the neighborhood are mixed compared with national benchmarks: overall safety sits below the national median, yet recent trends point in a favorable direction with year-over-year declines in both violent and property incidents. Among the 469 Oakland-Berkeley-Livermore neighborhoods, this area is competitive but not top tier on safety; investors should underwrite prudent security measures and emphasize well-lit common areas and access controls.
The location draws from a diversified East Bay employment base that supports renter demand and commute convenience, including logistics, industrial equipment, energy, consumer goods, and retail headquarters.
- Ryder — logistics (3.7 miles)
- Caterpillar — heavy equipment offices (4.9 miles)
- Chevron — energy (8.1 miles) — HQ
- The Clorox Company — consumer goods (9.7 miles)
- Ross Stores — off-price retail (10.7 miles) — HQ
This 40-unit, 2013-vintage asset benefits from strong neighborhood fundamentals: high occupancy, elevated household incomes, and a deep renter pool supported by a high-cost ownership market. The newer construction provides competitive positioning versus predominantly older nearby stock, which can limit immediate capex while supporting retention and leasing. Based on commercial real estate analysis from WDSuite, neighborhood occupancy trends are in the top quartile nationally, reinforcing income stability.
Within a 3-mile radius, incomes have risen and forecasts point to more households even as population growth moderates, implying a wider renter base and continued demand for well-managed units. Investors should still account for affordability pressure at higher rent levels and monitor local safety trends, but the combination of strong amenities, major employment access, and newer vintage forms a durable long-term thesis.
- Newer 2013 vintage relative to older neighborhood stock reduces near-term capex and enhances competitive positioning.
- Top-quartile neighborhood occupancy supports cash flow stability and limits downtime risk.
- High-cost ownership environment reinforces renter reliance on multifamily, aiding retention and pricing power.
- Diversified nearby employment base underpins consistent leasing demand.
- Risks: below-median national safety metrics and rent affordability pressure warrant conservative underwriting and active management.