| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 57th | Fair |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 22448 Center St, Castro Valley, CA, 94546, US |
| Region / Metro | Castro Valley |
| Year of Construction | 1987 |
| Units | 50 |
| Transaction Date | 1997-02-18 |
| Transaction Price | $1,133,000 |
| Buyer | FULLER PROPERTIES LLC |
| Seller | BAUTISTA JOSE G TR |
22448 Center St Castro Valley Multifamily Investment
Renter demand is supported by a high neighborhood renter concentration and elevated ownership costs, according to WDSuite’s CRE market data. This positioning can help sustain occupancy and pricing power relative to broader East Bay trends.
Located in Castro Valley within the Oakland–Berkeley–Livermore metro, the property benefits from a renter-occupied share that is high for the neighborhood, signaling a deep tenant base for multifamily operators. Neighborhood occupancy has been strong compared with national norms, which supports leasing stability and reduces downtime risk during turns, based on commercial real estate analysis from WDSuite.
Daily-needs access is a relative strength: grocery availability ranks near the top of national comparisons while childcare access is also strong. Restaurant density is competitive, though the area shows thinner coverage for cafes and public parks compared with many neighborhoods nationwide. These dynamics tend to favor convenience-oriented renters while leaving some lifestyle amenities to adjacent submarkets.
Housing fundamentals are comparatively strong in the metro context, landing in the top quartile among 469 metro neighborhoods. Elevated home values in the neighborhood, together with a high value-to-income environment, indicate a high-cost ownership market that can reinforce reliance on multifamily housing and support lease retention.
Within a 3-mile radius, the population has modestly expanded in recent years while household size edged higher; looking ahead, forecasts point to flat-to-soft population but an increase in total households alongside smaller household sizes. For investors, that combination can translate into a larger renter pool entering the market even as overall headcount stabilizes, supporting occupancy and absorption for well-positioned assets.
Vintage matters: built in 1987, the asset is newer than the neighborhood’s average construction year. That can enhance competitive positioning versus older stock, though investors should still plan for modernization of aging systems and targeted common-area upgrades to drive rent competitiveness.
Safety signals are mixed when benchmarked against the Oakland–Berkeley–Livermore metro and national comparisons. The neighborhood’s composite crime standing sits below many metro peers (ranked 347 out of 469), indicating that safety perceptions may be a consideration for some residents and operators.
Recent trend data provide a nuanced view: property offenses show a notable year-over-year decline, placing the neighborhood above many areas nationally on improvement momentum. At the same time, violent offense rates remain comparatively elevated versus national norms and have increased over the last year. For underwriting, this suggests attention to security measures and resident communications, while noting the positive direction in property-related incidents.
Proximity to a diversified employment base underpins renter demand and commute convenience, anchored by logistics, industrial equipment, energy, consumer goods, and off-price retail headquarters within roughly 5–10 miles.
- Ryder — logistics (4.3 miles)
- Caterpillar — industrial equipment offices (5.0 miles)
- Chevron — energy (7.5 miles) — HQ
- The Clorox Company — consumer goods (8.6 miles)
- Ross Stores — off-price retail (9.6 miles) — HQ
22448 Center St is a 50-unit, mid-1980s multifamily asset positioned to capture steady renter demand in a neighborhood with high renter concentration and nationally strong occupancy. Elevated ownership costs locally help sustain reliance on rentals, supporting rent durability and lease retention, while the nearby employment base broadens the tenant funnel. According to CRE market data from WDSuite, neighborhood rents benchmark high on a national basis yet rent-to-income levels indicate manageable affordability pressure relative to incomes, which can aid collections and renewal rates.
The 1987 vintage offers competitive positioning versus older neighborhood stock, with potential to unlock additional value through modernization of interiors and building systems. Forward-looking demographics within a 3-mile radius signal more households even as population trends soften, pointing to a larger renter pool and stable absorption for well-operated, convenience-oriented properties.
- Strong neighborhood occupancy and high renter concentration support leasing stability
- High-cost ownership market reinforces multifamily demand and renewal potential
- 1987 construction creates a competitive edge with value-add modernization upside
- Diverse nearby employers expand the tenant base and reduce vacancy risk
- Risks: mixed safety signals and selective amenity gaps require asset-level mitigation