| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 76th | Good |
| Amenities | 98th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38660 Hastings St, Fremont, CA, 94536, US |
| Region / Metro | Fremont |
| Year of Construction | 1972 |
| Units | 94 |
| Transaction Date | 1995-06-28 |
| Transaction Price | $583,000 |
| Buyer | LEE JAMES |
| Seller | WOMER CHARLES E |
38660 Hastings St Fremont Value-Add Multifamily
Dense amenities and a high-cost ownership market support durable renter demand near 38660 Hastings St, according to WDSuite’s CRE market data. Focus on steady occupancy and rent resilience rather than outsized growth narratives.
The property sits in a top-tier neighborhood within the Oakland-Berkeley-Livermore metro (ranked 6 among 469 neighborhoods, A+), with an Urban Core profile that benefits multifamily leasing. Amenity access is a clear strength: cafes, restaurants, grocery stores, and pharmacies rank near the top of the metro and test in the highest national percentiles, supporting day-to-day convenience and competitive tenant retention.
Neighborhood occupancy is around the metro middle with a modest positive trend over the past five years, per WDSuite data. Renter concentration at the neighborhood level ranks among the strongest in the metro (3 of 469), signaling depth in the tenant base, while within a 3-mile radius, about 46% of housing units are renter-occupied — a broad pool that supports lease-up and renewal activity.
Home values in the neighborhood are elevated relative to national norms, which typically sustains reliance on multifamily. Median asking rents also benchmark high versus the U.S., reinforcing pricing power for well-positioned assets. Framed for investors, these ownership and rent dynamics favor stable occupancy management and measured rent growth rather than heavy concessions.
Demographics aggregated within a 3-mile radius show a slight population dip over the last five years alongside a small increase in households, with projections indicating a further increase in household counts and smaller household sizes by 2028. For multifamily, that mix generally supports a larger tenant base and steady demand, a point underscored by commercial real estate analysis from WDSuite.
Vintage matters here. Built in 1972, the asset is older than the neighborhood average year (1989). That typically implies capital planning for systems and common areas, but it may also open value-add paths (interiors, curb appeal, amenities) to compete against newer stock.
Safety trends warrant monitoring. Compared with 469 metro neighborhoods, the area tracks above the metro average for crime, and national percentiles place it below the middle of U.S. neighborhoods. That said, recent year-over-year data from WDSuite indicate notable declines in both property and violent offenses, suggesting momentum in the right direction. Investors should underwrite with conservative assumptions and emphasize onsite controls, lighting, and access management.
Nearby advanced manufacturing and technology employers support weekday population and renter demand through commute convenience. The following anchors represent the immediate employment base referenced here.
- Sanmina Corporation — electronics manufacturing (3.3 miles)
- Synnex — technology distribution (4.1 miles) — HQ
- Lam Research - CA9 — semiconductor equipment (4.6 miles)
- Lam Research Corporation CA8 — semiconductor equipment (4.8 miles)
- Lam Research — semiconductor equipment (4.9 miles) — HQ
38660 Hastings St offers a value-add angle in a high-performing Fremont neighborhood where elevated ownership costs and strong amenity density underpin multifamily demand. According to CRE market data from WDSuite, neighborhood occupancy trends sit around the metro middle while rents and home values benchmark high nationally, supporting rent resilience for well-positioned assets.
With a 1972 construction year, investors should plan for targeted capital improvements to sharpen competitive positioning against newer stock. Demographics aggregated within a 3-mile radius point to a growing household base and smaller household sizes over the forecast period, which generally expands the renter pool and supports occupancy stability.
- Amenity-dense Urban Core location with top-tier metro ranking (6 of 469) supports tenant retention.
- Elevated home values sustain reliance on rentals, reinforcing pricing power for competitive assets.
- Occupancy trends around the metro middle with a modest positive trajectory per WDSuite data.
- 1972 vintage presents value-add potential; plan for systems and common-area updates.
- Risks: safety metrics sit above metro averages and older vintage implies ongoing capex; underwrite conservatively.