| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 76th | Good |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3593 Mowry Ave, Fremont, CA, 94538, US |
| Region / Metro | Fremont |
| Year of Construction | 1985 |
| Units | 34 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3593 Mowry Ave Fremont Multifamily Investment
This 34-unit property sits in a top-tier neighborhood ranking 6th among 469 metro neighborhoods, with 85% renter-occupied housing units supporting strong rental demand according to CRE market data from WDSuite.
Located in Fremont's urban core, this neighborhood ranks in the top quartile nationally for amenities and housing fundamentals. The area maintains 91% occupancy with 85% of housing units renter-occupied, indicating robust rental demand within a 3-mile radius encompassing approximately 149,000 residents.
Built in 1985, the property aligns with the neighborhood's average construction year of 1989, positioning it well for value-add opportunities through strategic renovations and unit improvements. Median contract rents of $2,704 have grown 45% over five years, reflecting strong pricing power in this established rental market.
The neighborhood demonstrates exceptional amenity density with top national rankings for grocery stores (13.7 per square mile), restaurants (58.3 per square mile), and childcare facilities (10.3 per square mile). This infrastructure supports tenant retention and appeals to the area's median household income of $125,446, which has grown 32% over the past five years.
Demographics within the 3-mile radius show household income growth of 39% over five years, with median household income reaching $155,760. Projected rent growth of 26% through 2028 suggests continued affordability pressures that reinforce rental demand, particularly given the $1.1 million median home values that sustain renter reliance on multifamily housing.
Crime metrics show mixed trends with property offense rates declining 35% year-over-year and violent crime down 28%, indicating improving conditions. The neighborhood ranks in the middle tier among metro neighborhoods for overall crime, with property offense rates currently elevated but trending downward.
Investors should monitor these improving safety trends as part of ongoing market assessment, particularly given the neighborhood's strong amenity base and employment proximity that support long-term rental demand fundamentals.
The property benefits from proximity to major technology and manufacturing employers, providing workforce housing for professionals in established corporate offices within commuting distance.
- Sanmina Corporation — electronics manufacturing (3.1 miles)
- Synnex — technology distribution (3.8 miles) — HQ
- Lam Research — semiconductor equipment (4.3 miles) — HQ
- Thermo Fisher Scientific — life sciences (4.9 miles)
- Boston Scientific — medical devices (6.0 miles)
This 1985-vintage property offers value-add potential in a fundamentally strong rental market. The neighborhood's 85% renter occupancy share and declining crime trends support stable cash flows, while proximity to major technology employers provides tenant base stability. Commercial real estate analysis shows the area ranking 6th among 469 metro neighborhoods, with rent growth of 45% over five years demonstrating pricing power.
Demographics within the 3-mile radius show household income growth of 39% over five years, expanding the qualified renter pool. Projected household growth of 34% through 2028 supports absorption for renovated units, while high home values of $1.1 million maintain rental demand by keeping ownership costs elevated relative to renting.
- Top-tier neighborhood ranking with 85% renter-occupied housing supporting demand
- Value-add opportunity through renovations of 1985-vintage units
- Strong rent growth of 45% over five years with continued pricing power
- Proximity to major technology employers providing tenant base stability
- Risk consideration: Monitor crime trends and competitive supply in renovation planning