| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 76th | Good |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3500 Pennsylvania Ave, Fremont, CA, 94536, US |
| Region / Metro | Fremont |
| Year of Construction | 1973 |
| Units | 33 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3500 Pennsylvania Ave Fremont Multifamily Investment
This 33-unit property benefits from strong neighborhood-level occupancy at 91% and high renter concentration, supported by multifamily property research from WDSuite showing the area ranks in the top quartile nationally for amenity access.
The neighborhood ranks 6th among 469 metro neighborhoods with an A+ rating, placing it in the top 2% of Oakland-Berkeley-Livermore area locations. Amenity density supports tenant retention, with the area ranking 7th for cafes and 5th for grocery stores among metro neighborhoods. The neighborhood maintains 91% occupancy with 85% of housing units renter-occupied, indicating strong rental demand fundamentals.
Demographics within a 3-mile radius show household income growth of 39% over five years, reaching a median of $155,848. Population projections indicate modest household formation through 2028, with renter-occupied units expected to increase from 16.7% to 22.4% of total housing stock. This expansion supports sustained multifamily demand in the submarket.
The property's 1973 construction year aligns with the neighborhood average of 1989, suggesting potential value-add opportunities through targeted renovations. Median contract rents of $2,704 have grown 45% over five years, though rent-to-income ratios at 0.26 indicate affordability pressures that require careful lease management and renewal strategies.
Crime metrics show mixed signals for investor consideration. The neighborhood ranks 288th among 469 metro neighborhoods for overall crime, placing it near the metro median. Property crime rates have declined 35% year-over-year, while violent crime decreased 28%, indicating improving trends that support tenant retention and leasing stability.
Current property offense rates remain elevated compared to national benchmarks, ranking in the 5th percentile nationally. However, the sustained downward trajectory in both property and violent crime suggests ongoing improvement in neighborhood conditions that may positively impact long-term tenant demand and property values.
The property benefits from proximity to major technology and manufacturing employers that provide workforce housing demand, including several corporate headquarters within the broader South Bay employment corridor.
- Sanmina Corporation — electronics manufacturing (3.1 miles)
- Synnex — technology distribution (3.9 miles) — HQ
- Lam Research - CA9 — semiconductor equipment (4.3 miles)
- Lam Research Corporation — semiconductor equipment (4.7 miles) — HQ
- Thermo Fisher Scientific — life sciences (4.9 miles)
The property's investment fundamentals center on neighborhood-level occupancy stability at 91% and strong renter concentration of 85%, supported by proximity to major technology employers in the South Bay corridor. According to CRE market data from WDSuite, the area ranks in the top quartile nationally for amenity density, which supports tenant retention in competitive rental markets. Demographic projections show household formation and income growth that reinforce multifamily demand through 2028.
The 1973 vintage presents value-add opportunities through strategic renovations, while recent rent growth of 45% over five years demonstrates pricing power despite affordability considerations. The neighborhood's A+ rating and top-tier metro ranking provide defensive characteristics, though elevated rent-to-income ratios require active lease management to maintain occupancy levels.
- Strong neighborhood occupancy at 91% with 85% renter concentration
- Top quartile amenity access supports tenant retention
- Value-add potential from 1973 construction year
- Proximity to major South Bay technology employers
- Risk: Elevated rent-to-income ratios require careful lease management