| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Poor |
| Demographics | 58th | Fair |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 964 46th St, Emeryville, CA, 94608, US |
| Region / Metro | Emeryville |
| Year of Construction | 2005 |
| Units | 36 |
| Transaction Date | 1999-08-18 |
| Transaction Price | $817,000 |
| Buyer | P & D 46TH STREET ASSOCIATES LLC |
| Seller | MADISON PARK PROPERTIES LLC |
964 46th Street Emeryville Multifamily Investment
This 36-unit property benefits from strong neighborhood-level rental demand in a market where 64.5% of housing units are renter-occupied. According to CRE market data from WDSuite, the area maintains competitive fundamentals despite recent occupancy pressures.
The Emeryville Urban Core neighborhood ranks in the top quartile nationally for amenities, with exceptional grocery store density (99th percentile nationwide) and restaurant accessibility that supports tenant retention. Built in 2005, this property represents newer construction compared to the neighborhood average of 1938, potentially reducing near-term capital expenditure requirements while maintaining competitive positioning in an established rental market.
Demographics within a 3-mile radius show household income growth of 56.8% over five years, reaching a median of $113,267, while the renter pool has expanded with 69.3% of housing units occupied by renters. Projected household growth of 41.1% through 2028 indicates continued expansion of the potential tenant base, supporting occupancy stability despite current neighborhood-level occupancy of 89.8% trailing metro trends.
The area's high home values (96th percentile nationally at $892,855 median) reinforce rental demand by maintaining elevated ownership costs that sustain renter reliance on multifamily housing. Contract rents have increased 46.3% over five years, though rent-to-income ratios remain manageable at 19%, suggesting room for strategic rent optimization while maintaining tenant affordability.
Property crime trends show significant improvement with a 56.3% decrease over the past year, ranking in the 90th percentile nationally for crime reduction. While current property crime rates remain elevated compared to metro averages, the substantial downward trajectory suggests improving neighborhood conditions that could support tenant retention and leasing velocity.
Violent crime has similarly declined 51.7% year-over-year, placing the area in the 86th percentile nationally for violent crime improvement. Investors should monitor these trends as part of ongoing market assessment, as sustained safety improvements typically correlate with stronger rental fundamentals over time.
The property benefits from proximity to major Bay Area employers, with Clorox headquarters located 2.3 miles away providing workforce housing demand. Several Fortune 500 companies maintain significant operations within commuting distance, supporting a diverse professional tenant base.
- Clorox — consumer products (2.3 miles) — HQ
- Gap — retail corporate offices (7.1 miles) — HQ
- AIG — insurance services (7.1 miles)
- Charles Schwab — financial services (7.2 miles) — HQ
- Salesforce — technology services (7.2 miles) — HQ
This 2005-vintage property offers value-add potential in a high-barrier-to-entry Bay Area submarket where elevated home values sustain rental demand. The 36-unit scale provides operational efficiency while demographic projections show household growth of 41.1% through 2028, expanding the potential tenant base. Neighborhood-level net operating income averages $10,080 per unit, ranking in the 80th percentile nationally, indicating strong rental fundamentals despite current occupancy pressures.
Recent crime reduction trends and proximity to major employers like Clorox headquarters support long-term tenant appeal, while the property's newer construction vintage relative to neighborhood averages positions it competitively for lease retention. Commercial real estate analysis shows rent growth of 46.3% over five years, though investors should plan for potential occupancy management given current neighborhood-level rates of 89.8%.
- Strong rental demand fundamentals with 69.3% renter-occupied housing units
- Projected 41.1% household growth through 2028 expanding tenant base
- 2005 construction year reduces near-term capital expenditure requirements
- Proximity to Clorox HQ and major Bay Area employment centers
- Risk consideration: Current neighborhood occupancy of 89.8% requires active lease management