| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 76th | Good |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38655 Paseo Padre Pkwy, Fremont, CA, 94536, US |
| Region / Metro | Fremont |
| Year of Construction | 1973 |
| Units | 118 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
38655 Paseo Padre Pkwy Fremont Multifamily Investment
Strong renter concentration and a high-cost ownership market in Fremont suggest durable demand for well-located units, according to WDSuite’s CRE market data. Neighborhood fundamentals point to stable occupancy with room for value-add execution at a 1973 vintage property.
Located in Fremont’s Urban Core, the neighborhood ranks 6th among 469 Oakland–Berkeley–Livermore metro neighborhoods (A+ rating), placing it firmly in the top quartile metro-wide. Amenity access is a key strength: cafes, groceries, restaurants, and pharmacies register in the top national percentiles, supporting resident convenience and leasing appeal.
Renter demand is deep. The share of housing units that are renter-occupied is among the highest in the metro (ranked near the top among 469 neighborhoods), which supports a broad tenant base and ongoing leasing velocity. Neighborhood occupancy trends sit near the national mid-range, indicating generally steady performance rather than outsized volatility.
Within a 3-mile radius, household counts have edged higher over the past five years and are projected to expand further, with smaller average household sizes over time. That combination typically broadens the renter pool and can support occupancy stability and absorption of renovated units.
Ownership costs are elevated relative to income levels in the neighborhood and metro context, and median home values rank in the upper national percentiles. For multifamily investors, this high-cost ownership market tends to reinforce reliance on rental housing, which can aid retention and pricing power when units are positioned and managed appropriately.
The asset’s 1973 construction is older than the neighborhood’s average vintage (late-1980s). For investors, that points to capital planning needs but also presents value-add and modernization opportunities to compete effectively against newer stock.
Safety indicators track below national medians for this neighborhood, and the area ranks in the lower half among 469 metro neighborhoods. That signals a need for prudent security measures and operational oversight to support resident satisfaction and retention.
Recent trends are directionally positive: both violent and property offense estimates have declined meaningfully year over year, placing those improvements in stronger national percentiles. For investors, continued monitoring, resident engagement, and coordination with property management can help sustain these gains without over-relying on short-term fluctuations.
Proximity to major advanced manufacturing and technology employers underpins workforce housing demand and commute convenience. Notable nearby corporate offices include Sanmina, Synnex, Lam Research, Thermo Fisher Scientific, and Boston Scientific.
- Sanmina Corporation — electronics manufacturing (3.4 miles)
- Synnex — IT distribution (4.2 miles) — HQ
- Lam Research — semiconductor equipment (4.9 miles) — HQ
- Thermo Fisher Scientific — life sciences (5.2 miles)
- Boston Scientific - Building 5 — medical devices (6.3 miles)
This 118-unit, 1973-vintage asset offers scale in a top-ranked Fremont neighborhood with strong amenity access and a deep renter base. Based on CRE market data from WDSuite, neighborhood occupancy tracks near the national mid-range while renter-occupied unit share is among the highest in the metro—conditions that support steady leasing with upside from thoughtful renovations. High median home values and income levels indicate a high-cost ownership market that can sustain multifamily demand and retention when units are competitively positioned.
The older vintage points to targeted capital planning and modernization to compete with late-1980s and newer stock. Within a 3-mile radius, households have grown and are projected to expand further even as average household sizes trend lower—factors that typically expand the renter pool and support occupancy stability over the hold period.
- Top-ranked Urban Core location with national top-tier amenities supporting leasing appeal
- Deep renter-occupied housing share in the neighborhood supports tenant base depth
- 1973 vintage presents value-add and system modernization opportunities to drive NOI
- High-cost ownership market in Fremont favors sustained multifamily demand and retention
- Risk: safety metrics below national medians warrant active property management and security planning