| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 78th | Best |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38035 Martha Ave, Fremont, CA, 94536, US |
| Region / Metro | Fremont |
| Year of Construction | 1993 |
| Units | 20 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
38035 Martha Ave, Fremont CA — 20-Unit Bay Area Hold
Neighborhood occupancy, income depth, and high-cost ownership dynamics in Fremont point to durable renter demand, according to WDSuite’s CRE market data.
The property sits in Fremont’s Urban Core within the Oakland–Berkeley–Livermore metro, where the neighborhood carries a B+ rating and ranks 142 out of 469 — competitive among metro neighborhoods. Local operations tend to be resilient: neighborhood occupancy is in the mid-90s and sits above national norms (top quartile nationally), based on WDSuite data.
Livability signals are supportive for retention. Park access tests in the top tier nationally, and average public school ratings score well above most U.S. neighborhoods. Grocery access outperforms typical U.S. areas, while on-the-block dining density is thinner, suggesting residents rely on broader Fremont corridors for restaurants and cafes. Childcare availability benchmarks strongly versus national peers, which can support family renter retention.
Renter demand fundamentals are reinforced by the local tenure mix: roughly two-fifths of housing units in the neighborhood are renter-occupied, indicating a meaningful multifamily tenant base. At the metro scale, elevated home values and income levels signal a high-cost ownership market; this tends to sustain reliance on rentals and supports pricing power, though lease management should account for rent-to-income thresholds to protect retention.
Within a 3-mile radius, data show a slight population contraction in recent years alongside a modest increase in households and a projected rise in total households by the forecast period. This pattern reflects smaller household sizes and points to a broader renter pool over time, which generally supports occupancy stability for well-positioned assets. Median contract rents in the area have grown materially and are projected to continue increasing, which favors long-term revenue, but investors should underwrite to local affordability pressure and competitive dynamics in the broader Bay Area rather than assume outsized rent lifts.
Vintage matters here: built in 1993, the asset is newer than the neighborhood’s average 1982 construction, providing a relative competitiveness edge versus older stock. Even so, aging systems and common areas may benefit from targeted modernization to drive rent premiums and reduce near-term capex variability.
Safety indicators suggest a mixed but improving backdrop. Overall crime levels test slightly better than the national median, while property and violent offense measures are not among the very safest nationally. Notably, property crime has declined sharply year over year — among the stronger improvements compared with neighborhoods nationwide — which supports a more stable operating environment if the trend persists.
Within the Oakland–Berkeley–Livermore metro, the neighborhood is not in the lowest-incidence cohort, but recent momentum is constructive. Investors should reflect this in insurance, security, and lighting/controls planning, while recognizing that improving trends can aid resident satisfaction and retention.
Proximity to East Bay and South Bay tech and manufacturing employers supports a deep commuter tenant base and day-time employment hub, helping stabilize leasing and renewals. Nearby anchors include electronics, semiconductor equipment, and life sciences offices that draw skilled workers.
- Sanmina Corporation — electronics (3.7 miles)
- Synnex — IT distribution (4.5 miles) — HQ
- Lam Research - CA9 — semiconductor equipment (5.0 miles)
- Lam Research Corporation CA8 — semiconductor equipment (5.2 miles)
- Lam Research — semiconductor equipment (5.3 miles) — HQ
This 20-unit 1993-vintage asset in Fremont benefits from a renter base supported by a high-cost ownership market, strong neighborhood occupancy (above national norms), and solid school and park amenities that aid retention. According to CRE market data from WDSuite, neighborhood NOI performance benchmarks near the top nationally and median rents are elevated for the metro, suggesting durable revenue potential for well-managed properties. Being newer than the neighborhood average vintage positions the asset competitively versus older stock, while targeted modernization can unlock incremental rent premiums.
Within a 3-mile radius, household counts have edged higher and are projected to grow further even as household sizes trend smaller — a setup that typically expands the renter pool and supports occupancy stability. Balanced underwriting should still account for Fremont’s elevated rent levels and the broader Bay Area’s cyclical dynamics, using lease management and renewal strategies to preserve retention and mitigate affordability pressure.
- 1993 vintage is newer than local average, enabling competitive positioning with targeted upgrades
- Neighborhood occupancy above national norms supports income stability
- High-cost ownership market in Fremont sustains rental demand and pricing power
- Risk: elevated absolute rents and thinner on-block dining options call for careful lease management and amenity strategy