| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 76th | Good |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 40882 High St, Fremont, CA, 94538, US |
| Region / Metro | Fremont |
| Year of Construction | 1987 |
| Units | 60 |
| Transaction Date | 2022-11-01 |
| Transaction Price | $27,200,000 |
| Buyer | SMD ENTERPRISES MB WESTGATE REHABILITATION FA |
| Seller | WSB VICTORIA PARK LLC |
40882 High St Fremont Multifamily Investment
Neighborhood renter-occupied share is elevated and occupancy has held in the low-90s for this Fremont pocket, according to WDSuite s CRE market data, supporting steady tenant demand. Strong local incomes and high-cost ownership dynamics point to durable leasing fundamentals relative to the broader metro.
Located in Fremont s Urban Core within the Oakland Berkeley Livermore metro, the neighborhood rates A and is competitive among Oakland Berkeley Livermore neighborhoods based on overall rank (81 out of 469). Daily needs are well-covered: grocery access sits in the top percentiles nationally, and restaurants are similarly dense, while parks and cafes are comparatively limited. Average school ratings are among the metro s best ranked 1st of 469 neighborhoods and in the top percentile nationwide which can bolster family-oriented renter retention.
For multifamily dynamics, neighborhood occupancy is about 93%, and the share of housing units that are renter-occupied is substantial (near six in ten). Together, these indicators suggest depth in the tenant base and support for leasing stability, though investors should monitor any localized softening noted over the past five years. Median contract rents in the neighborhood rank high nationally, while the rent-to-income ratio sits around one-fifth, implying some pricing power with measured lease management.
Within a 3-mile radius, demographics indicate a high-income workforce and a renter pool supported by strong employer bases. Recent years show a slight population dip, but projections point to a modest return to growth alongside a reduction in average household size factors that can expand the pool of renters and support occupancy over time. Elevated home values relative to incomes (top national percentiles) signal a high-cost ownership market, which generally sustains reliance on multifamily housing and can aid retention.
Vintage context matters: the average construction year in this neighborhood is late-1980s, and the property s 1987 vintage is slightly older. That setup often supports a targeted value-add plan interior updates, common area refreshes, and systems modernization to improve competitive positioning against newer stock while planning for capital needs typical of assets from this era.
Safety trends are mixed relative to both the metro and national benchmarks. The neighborhood sits around the middle of the pack nationally on overall safety measures, and its metro rank indicates it is neither among the safest nor the most challenged areas in the Oakland Berkeley Livermore region (271 out of 469 neighborhoods). Investors should underwrite with typical operational controls and security best practices for an Urban Core location.
Recent momentum is constructive: estimated property crime has declined sharply year over year (an improvement that places the neighborhood in a high national percentile for reduction), while violent crime sits below the national median percentile. Taken together, the direction of change supports a cautiously positive view, but prudent monitoring remains appropriate over the hold period.
Proximity to advanced manufacturing, semiconductors, and life sciences offices underpins a stable renter base seeking commute convenience. The nearby employment hub includes Sanmina, Lam Research, Synnex, Thermo Fisher Scientific, and Boston Scientific.
- Sanmina Corporation electronics manufacturing (2.3 miles)
- Lam Research CA9 semiconductors (2.9 miles)
- Synnex IT distribution (3.0 miles) HQ
- Lam Research Corporation CA8 semiconductors (3.1 miles)
- Lam Research semiconductors (3.3 miles) HQ
- Thermo Fisher Scientific life sciences (3.4 miles)
- Boston Scientific Building 5 medical devices (4.5 miles)
40882 High St is a 60-unit, late-1980s multifamily asset positioned in a high-income Fremont neighborhood where renter-occupied housing is substantial and neighborhood occupancy hovers in the low-90s. Elevated home values and strong household incomes support durable rental demand, while top-tier school ratings within the metro bolster family-oriented retention. According to CRE market data from WDSuite, neighborhood rents benchmark high nationally, reinforcing the case for sustained pricing power with disciplined lease management.
Built in 1987, the property is slightly older than the neighborhood average and is well-suited to a focused value-add strategy interiors, common areas, and selective systems upgrades to remain competitive versus newer supply. Nearby concentrations of advanced manufacturing, semiconductor, and life sciences employers diversify the renter pool and support leasing stability, while forecast household growth within 3 miles points to gradual renter pool expansion. Key risks include mixed safety positioning relative to the metro, limited park and cafe density, and modest softening in neighborhood occupancy over the past five years.
- High-income renter base and elevated neighborhood renter-occupied share support demand depth
- Late-1980s vintage enables targeted value-add to enhance positioning and rents
- Strong nearby employers (semiconductors, life sciences, manufacturing) bolster leasing stability
- High-cost ownership market reinforces reliance on multifamily and aids retention
- Risks: mixed safety metrics, limited parks/cafes, and recent occupancy softening warrant prudent underwriting