| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 77th | Good |
| Amenities | 16th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 37242 Rico Cmn, Fremont, CA, 94536, US |
| Region / Metro | Fremont |
| Year of Construction | 1987 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
37242 Rico Cmn, Fremont 24-Unit Multifamily Investment
Neighborhood occupancy is above the metro median and elevated ownership costs sustain renter reliance on apartments, according to WDSuite’s CRE market data. This combination points to stable leasing fundamentals in a high-income Fremont submarket.
Situated in suburban Fremont within the Oakland–Berkeley–Livermore metro, the property benefits from a high-income renter base and solid neighborhood performance. The neighborhood’s occupancy is above the metro median and in the upper tier nationally, indicating steady tenant demand rather than lease-up volatility. Median contract rents in the area are among the higher levels nationwide, reinforcing the importance of product quality and management to capture pricing while sustaining retention.
Parks access is a relative strength: the neighborhood ranks among the top quartile nationally for park availability, supporting livability and long-term appeal to renters seeking green space. By contrast, local retail amenities (cafes, groceries, pharmacies) are limited within the immediate neighborhood footprint; investors should underwrite some dependence on nearby commercial corridors for daily needs. On demographics, the neighborhood is competitive among Oakland–Berkeley–Livermore neighborhoods, with an educated workforce and household incomes well above national norms.
Within a 3-mile radius, recent trends show a modest decline in population alongside an increase in household counts, pointing to smaller household sizes and a renter pool that continues to broaden. Projections through 2028 indicate further growth in households and higher median rents, suggesting a larger tenant base and support for occupancy stability if supply additions remain measured.
Vintage matters for positioning: built in 1987, the asset is newer than the neighborhood’s average construction year. That recency can be a competitive edge versus older stock, though investors should still plan for aging systems and targeted upgrades to protect rentability and reduce future capital surprises.
Tenure data indicates a substantial share of housing units in the neighborhood are renter-occupied (roughly half). For multifamily investors, that concentration supports depth of demand, diverse tenant sourcing, and resilience across leasing cycles, particularly in a high-cost ownership market where elevated home values can reinforce apartment demand.
Safety indicators are favorable in a comparative context. The neighborhood scores around the 73rd percentile nationally on overall crime safety, suggesting it is safer than a majority of U.S. neighborhoods. Violent offense metrics are similarly positioned in the upper third nationally, while property offense measures sit closer to the national midpoint.
Recent year-over-year trends point to declines in both violent and property offenses, indicating an improving trajectory rather than deterioration. As always, safety can vary by block and over time; investors should pair these neighborhood-level signals with on-the-ground diligence and property-specific security considerations.
Proximity to advanced manufacturing and technology employers supports a strong regional employment base and commuter convenience for renters. Key nearby employers include Sanmina, Synnex, and Lam Research offices.
- Sanmina Corporation — electronics manufacturing (4.2 miles)
- Synnex — IT distribution (4.9 miles) — HQ
- Lam Research - CA9 — semiconductor equipment (5.5 miles)
- Lam Research Corporation CA8 — semiconductor equipment (5.7 miles)
- Lam Research — semiconductor equipment (5.8 miles) — HQ
The investment case centers on durable renter demand in a high-income Fremont location. Neighborhood occupancy sits above the metro median and in the upper national percentiles, while elevated home values indicate a high-cost ownership market that can sustain apartment demand and support pricing power with strong management. Based on CRE market data from WDSuite, median rents in the surrounding area are among the higher levels nationally, favoring well-maintained assets positioned for retention.
At the property level, the 1987 vintage is newer than the local average, aiding competitiveness versus older stock; however, investors should anticipate selective modernization to preserve rentability and manage long-term capex. Within a 3-mile radius, household counts have risen and are projected to expand further with smaller average household sizes, which typically broadens the tenant base and supports occupancy stability over a multi-year hold.
- Occupancy above the metro median supports stable leasing fundamentals
- High home values reinforce rental demand and potential pricing power
- 1987 construction offers competitive positioning versus older stock with targeted upgrades
- 3-mile household growth and smaller household sizes expand the renter pool
- Risk: limited immediate retail amenities and aging systems require active management and capex planning