| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 57th | Fair |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2762 Grove Way, Castro Valley, CA, 94546, US |
| Region / Metro | Castro Valley |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2762 Grove Way Castro Valley Multifamily Investment
This 20-unit property built in 1973 aligns with neighborhood construction patterns and benefits from Castro Valley's high renter concentration at 66.8% of housing units. According to WDSuite's CRE market data, the neighborhood maintains 95.8% occupancy rates with strong rental demand fundamentals in the Oakland-Berkeley metro.
Castro Valley presents a mature rental market with strong occupancy fundamentals, ranking above metro median among 469 Oakland-Berkeley neighborhoods. The neighborhood maintains 95.8% occupancy rates with 66.8% of housing units renter-occupied, indicating deep rental demand that supports tenant retention and lease stability.
Demographics within a 3-mile radius show household income growth of 44% over five years, reaching a median of $117,452. Population projections indicate modest household formation through 2028, with forecasted increases in households supporting continued rental demand. The area's high home values at $824,083 median sustain rental demand, as elevated ownership costs limit accessibility to homeownership and reinforce renter reliance on multifamily housing.
The 1973 construction year matches neighborhood averages, indicating consistent building stock that may present value-add renovation opportunities for investors seeking capital improvement upside. Rent-to-income ratios suggest affordability pressures that require careful lease management, though strong neighborhood occupancy rates demonstrate tenant retention despite cost considerations.
Local amenities support tenant appeal with high grocery store density ranking in the 98th percentile nationally and strong childcare access in the 95th percentile. However, limited cafe and park access may impact competitive positioning compared to amenity-rich submarkets, requiring property-level amenities to maintain tenant satisfaction.
Safety metrics show mixed performance within the Oakland-Berkeley metro context. The neighborhood ranks 347th of 469 metro neighborhoods for overall crime, placing it in the lower half for the region. However, property crime trends show improvement with a 36% decrease over the past year, indicating positive momentum in community safety initiatives.
Violent crime rates remain elevated compared to national benchmarks, ranking in the 13th percentile nationwide. Investors should consider security enhancements and tenant screening protocols as part of property management strategies. The improving property crime trajectory suggests community investment in safety measures, though ongoing monitoring of crime trends remains important for long-term tenant retention and property positioning.
Castro Valley's employment base benefits from proximity to major Bay Area corporate headquarters and offices, supporting workforce housing demand from commuting professionals across logistics, consumer goods, and technology sectors.
- Ryder — logistics and supply chain (4.2 miles)
- Caterpillar — heavy machinery and equipment (5.0 miles)
- Chevron — energy and petroleum — HQ (7.6 miles)
- The Clorox Company — consumer products (8.7 miles)
- Ross Stores — retail and apparel — HQ (9.8 miles)
This Castro Valley property offers stable multifamily fundamentals with neighborhood occupancy at 95.8% and strong renter concentration supporting lease retention. The 1973 vintage presents potential value-add opportunities through strategic renovations, while proximity to major Bay Area employers provides workforce housing appeal. Based on CRE market data from WDSuite, household income growth of 44% over five years demonstrates improving tenant quality, though elevated rent-to-income ratios require careful lease management strategies.
- High neighborhood occupancy at 95.8% with 66.8% renter concentration supporting demand stability
- Proximity to major corporate employers including Chevron and Ross Stores headquarters
- Value-add potential through property improvements aligned with 1973 construction vintage
- Strong household income growth trajectory supporting rent growth potential
- Risk consideration: Elevated rent-to-income ratios requiring active lease management