| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 77th | Good |
| Amenities | 16th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3238 Belden Ter, Fremont, CA, 94536, US |
| Region / Metro | Fremont |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3238 Belden Ter, Fremont CA Multifamily Investment
Neighborhood occupancy is strong and renter demand is reinforced by a high-cost ownership market, according to WDSuite's CRE market data. With newer-than-average vintage for the area, the asset is positioned to compete for quality tenants while allowing room for targeted upgrades.
Located in suburban Fremont within the Oakland–Berkeley–Livermore metro, the neighborhood posts occupancy above the metro median (ranked 215 of 469), supporting leasing stability relative to many peer areas. Renter-occupied housing accounts for roughly half of units at the neighborhood level (48.5% renter concentration), indicating a sizable tenant base for multifamily. Median contract rents in the neighborhood sit in the upper range for the region, and the rent-to-income ratio near 0.19 suggests measured affordability pressure that can be managed through disciplined lease management.
The property's 1988 construction is newer than the neighborhood's average 1979 vintage, which can provide a competitive edge versus older stock; investors should still underwrite for system modernization and selective interior refresh to sustain pricing power. Elevated neighborhood home values (around $1.49M median) signal a high-cost ownership market that tends to sustain reliance on rentals, aiding retention and supporting stabilized occupancy.
Within a 3-mile radius, household counts have grown modestly over the past five years and are projected to expand further, even as population trends edge down and average household size declines. This points to smaller households and a broader renter pool over time, which can deepen demand for well-located apartments and support occupancy continuity.
Local amenity density skews suburban: parks score competitively within the metro, while cafes, groceries, and pharmacies are less concentrated nearby. For investors, that mix often aligns with car-oriented renters prioritizing commutes, schools, and neighborhood stability. These dynamics compare favorably to national CRE trends on income and education while remaining competitive among metro peers on livability metrics.
Safety indicators are mixed in a way investors should contextualize. Relative to the Oakland–Berkeley–Livermore metro, the neighborhood's crime rank sits on the higher-crime side (rank 30 among 469), yet nationwide it compares favorably, landing in the top quartile for safety. Recent data also show meaningful year-over-year declines in both violent and property offense rates, according to WDSuite's datasets, which improves trend direction even if regional comparisons remain a consideration.
Nearby advanced manufacturing and life sciences employers support a deep, high-wage renter base and commute convenience for residents. The list below highlights proximate nodes in electronics manufacturing, IT distribution, and semiconductor equipment that can underpin leasing and retention.
- Sanmina Corporation — electronics manufacturing services (4.2 miles)
- Synnex — IT distribution (4.9 miles) — HQ
- Lam Research - CA9 — semiconductor equipment (5.6 miles)
- Lam Research — semiconductor equipment (5.9 miles) — HQ
- Thermo Fisher Scientific — life sciences (6.2 miles)
This 24-unit, 1988-vintage asset benefits from a neighborhood with above-median occupancy in the metro and a renter concentration near half of housing units, supporting a stable tenant base. High ownership costs in Fremont reinforce reliance on rentals, while the property's slightly newer vintage versus local averages provides competitive positioning with a clear path for targeted value-add through common-area, systems, and interior updates.
Proximity to diversified employers in semiconductors, electronics, and life sciences broadens the high-income renter pool, and within a 3-mile radius household growth alongside smaller household sizes points to a larger tenant base over time. According to CRE market data from WDSuite, neighborhood rent levels and occupancy dynamics compare favorably to national benchmarks, suggesting durable demand with prudent attention to affordability and retention.
- Above-median neighborhood occupancy supports leasing stability versus metro peers.
- 1988 vintage offers competitive positioning with clear, targeted value-add potential.
- High-cost ownership market in Fremont reinforces renter reliance and retention.
- Employer proximity in semiconductors and life sciences supports a deep, high-wage renter base.
- Risks: amenity-light immediate area and crime rankings that are higher than many metro neighborhoods warrant underwriting discipline.