| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 57th | Fair |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2511 Grove Way, Castro Valley, CA, 94546, US |
| Region / Metro | Castro Valley |
| Year of Construction | 1973 |
| Units | 56 |
| Transaction Date | 1996-11-13 |
| Transaction Price | $2,089,500 |
| Buyer | THE TOWN HOUSE PLAZA GROUP LTD |
| Seller | MIRIAM ENGEL SAMUEL |
2511 Grove Way 56-Unit Castro Valley Multifamily
Neighborhood occupancy trends are resilient and supportive of stable leasing, according to WDSuite’s CRE market data, with a deep renter base in the immediate area. High-cost ownership dynamics in Alameda County further sustain renter demand for professionally managed communities.
Located in Castro Valley within the Oakland–Berkeley–Livermore metro, the neighborhood carries a B- rating and sits roughly mid-pack (rank 268 among 469 metro neighborhoods). For investors, this translates to balanced fundamentals with selective strengths that support demand for a 56-unit asset.
Renter concentration is high for the neighborhood (share of housing units that are renter-occupied ranks in the 96th national percentile), indicating a deep tenant base and steady leasing visibility. Neighborhood occupancy is also strong (76th percentile nationally), signaling above-average stability versus many U.S. submarkets. While occupancy has softened modestly over the past five years, levels remain competitive among Oakland–Berkeley–Livermore neighborhoods.
Local amenity access is mixed. Grocery access is a standout (98th percentile nationally), and restaurant density trends above the national median, but cafes, parks, and pharmacies are limited within the neighborhood footprint. For working households, median incomes trend above national norms (79th percentile), and a relatively favorable rent-to-income profile (11th percentile nationally implies lower relative pressure) can aid renewals and retention.
Within a 3-mile radius, population growth has been modest over the last five years with a small increase in families, and forecasts point to a larger household count over the next five years alongside slightly smaller average household size. That mix generally supports a broader renter pool and sustained demand for multifamily units, based on CRE market data from WDSuite. Elevated home values (95th percentile nationally at the neighborhood level) underscore a high-cost ownership market that tends to keep renters in place longer, reinforcing pricing power and lease stability for well-managed properties.
Safety indicators are mixed at the neighborhood level. Compared with neighborhoods nationwide, the area sits below the national median on overall safety (approximately the 38th percentile nationally). Within the metro, its crime rank is 347 among 469 neighborhoods, indicating comparatively higher incident rates than many Oakland–Berkeley–Livermore peers.
Trend momentum offers a constructive signal on property offenses: the estimated property offense rate improved sharply year over year (78th percentile nationally for improvement). By contrast, violent offense metrics track weaker (around the 13th percentile nationally), warranting prudent security and operations planning. Investors should evaluate property-level measures and recent trends as part of standard diligence rather than relying solely on neighborhood averages.
Proximity to diverse corporate offices supports workforce housing demand and commute convenience for residents, with nearby employment anchored by logistics, industrial equipment, energy, retail, and consumer goods.
- Ryder — logistics services (3.9 miles)
- Caterpillar — industrial equipment offices (4.7 miles)
- Chevron — energy corporate offices (7.9 miles) — HQ
- The Clorox Company — consumer goods corporate offices (8.9 miles)
- Ross Stores — retail corporate offices (10.0 miles) — HQ
2511 Grove Way benefits from neighborhood metrics that indicate durable renter demand: a high share of renter-occupied units at the neighborhood level, occupancy that trends in the top quartile nationally, and ownership costs that are elevated relative to most U.S. neighborhoods. Together, these factors support a stable tenant base and consistent absorption for a mid-sized asset in Alameda County. According to CRE market data from WDSuite, household incomes in the surrounding area outperform national norms while rent-to-income dynamics are relatively manageable, a combination that can aid retention and minimize turnover volatility.
Forward-looking demographics aggregated within a 3-mile radius point to a larger household count and slightly smaller average household size, which typically expands the renter pool. Amenity access is strongest in groceries and restaurants, complementing daily-life convenience, though investors should account for mixed safety signals and a thinner supply of parks and pharmacies within the neighborhood footprint when underwriting.
- Strong neighborhood occupancy and high renter concentration support stable leasing
- Elevated home values locally reinforce reliance on multifamily rentals
- 3-mile demographics indicate a growing household base and broader renter pool
- Above-national household incomes with relatively manageable rent-to-income bolster retention
- Risks: mixed safety metrics and limited parks/pharmacies within the neighborhood area