| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 81st | Best |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3997 Emery St, Emeryville, CA, 94608, US |
| Region / Metro | Emeryville |
| Year of Construction | 1998 |
| Units | 111 |
| Transaction Date | 2018-02-08 |
| Transaction Price | $87,400,000 |
| Buyer | DP EMERYVILLE 40TH STREET INVESTORS LP |
| Seller | HOUSING CORPORATION OF AMERICA |
3997 Emery St Emeryville Multifamily Investment
This 111-unit property built in 1998 benefits from Emeryville's exceptional amenity density and strong renter demographics, with neighborhood-level occupancy at 87.8% supported by a highly educated tenant base according to CRE market data from WDSuite.
Emeryville ranks 13th among 469 neighborhoods in the Oakland-Berkeley-Livermore metro, earning an A+ rating with exceptional amenity access that supports tenant retention. The neighborhood demonstrates top-tier performance nationally with 97th percentile rankings for amenities, cafes, and educational attainment, where 40.9% of residents within a 3-mile radius hold bachelor's degrees.
Built in 1998, this property aligns with the neighborhood's average construction year of 1968, positioning it as newer vintage that may require less immediate capital expenditure compared to older area stock. Renter-occupied units comprise 62.5% of neighborhood housing, ranking in the 95th percentile nationally and indicating strong rental market fundamentals.
Median contract rents of $2,517 reflect the area's premium positioning, though rent-to-income ratios suggest affordability pressure that requires careful lease management. Demographic projections within the 3-mile radius show household growth of 41.5% through 2028, expanding the potential renter pool from 101,337 to 143,427 households, which supports long-term occupancy stability.
The neighborhood's occupancy rate of 87.8% has declined 3.7 percentage points over five years, ranking 453rd of 469 metro neighborhoods. This trend warrants monitoring of absorption rates and competitive positioning, particularly given the area's high amenity density including 9.83 grocery stores per square mile and extensive restaurant access.
Crime metrics show mixed trends for investor consideration. The neighborhood ranks 84th of 469 metro neighborhoods for overall crime, placing it in the 65th percentile nationally - above average compared to neighborhoods nationwide.
Property offense rates have improved significantly with a 55% year-over-year decline, ranking in the 90th percentile nationally for crime reduction trends. Violent crime rates also decreased 72% annually, ranking 35th of 469 neighborhoods for improvement. These declining crime trends support the area's tenant appeal, though absolute crime levels remain a factor for lease-up and retention strategies.
The property benefits from proximity to major corporate headquarters and offices that provide workforce housing demand, including household-name companies within reasonable commuting distance.
- Clorox — consumer products (1.9 miles) — HQ
- Gap — retail apparel (6.6 miles) — HQ
- AIG — insurance (6.6 miles)
- Charles Schwab — financial services (6.7 miles) — HQ
- Salesforce — technology (6.7 miles) — HQ
This 111-unit Emeryville property offers exposure to one of the Bay Area's most amenity-rich neighborhoods, with top-quartile national rankings for educational attainment and service density that support tenant quality and retention. The 1998 construction year positions the asset as newer vintage within the neighborhood context, potentially reducing near-term capital expenditure compared to the area's 1968 average building age.
Demographic fundamentals show strong household formation within the 3-mile radius, with projected growth of 41.5% through 2028 expanding the renter pool to over 143,000 households. However, multifamily property research indicates neighborhood occupancy has softened to 87.8%, ranking below metro median, requiring active asset management to maintain competitive positioning in this premium submarket.
- A+ rated neighborhood with 97th percentile amenity access supporting tenant retention
- Newer 1998 vintage reduces capital expenditure risk compared to area average
- Projected 41.5% household growth through 2028 expands renter demand
- Proximity to major corporate headquarters including Clorox and tech employers
- Risk: Neighborhood occupancy at 87.8% below metro median requires active management