| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 76th | Good |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4140 Irvington Ave, Fremont, CA, 94538, US |
| Region / Metro | Fremont |
| Year of Construction | 1973 |
| Units | 44 |
| Transaction Date | 1999-03-03 |
| Transaction Price | $312,500 |
| Buyer | TRAFALGAR INC |
| Seller | TABOR GREG S |
4140 Irvington Ave Fremont 44-Unit Multifamily Investment
Neighborhood occupancy is modestly above the national midline and a majority of housing units are renter-occupied, supporting demand resilience according to WDSuite’s CRE market data.
Situated in Fremont’s Irvington area within the Oakland–Berkeley–Livermore metro, the neighborhood rates A- and trends favorable for multifamily investors. Restaurants and groceries are dense by national standards (both near the top nationwide percentiles), which helps tenant convenience and leasing appeal. School quality is among the strongest nationally, a factor that can bolster retention for family renters. All neighborhood metrics cited here reflect neighborhood-level conditions, not the property’s performance.
The property’s 1973 vintage is older than the neighborhood’s average construction year, which points to potential value-add via interior updates, common-area refreshes, and systems modernization; capital planning should account for aging components. At the neighborhood level, occupancy has held in the low-to-mid 90s and sits above national norms, while the share of renter-occupied housing units is high for the metro, indicating a deep tenant base and generally supportive absorption for professionally managed assets.
Within a 3-mile radius, household counts have been stable recently and are projected to grow, while average household size trends slightly smaller. This combination typically widens the renter pool and supports occupancy stability. Median incomes in the 3-mile area are elevated, and rent-to-income levels suggest manageable affordability pressure for professionally managed units, which can aid lease retention and reduce turnover risk.
Home values in the neighborhood rank among the highest nationwide, signaling a high-cost ownership market that tends to sustain multifamily reliance. For investors, that dynamic can support pricing power over time, particularly for renovated product that competes well on features and commute convenience.
Neighborhood safety indicators sit below the national median overall, with violent and property offense rates comparing weaker than many U.S. neighborhoods. However, recent trend data shows a notable year-over-year improvement in property offenses, which can help sentiment and leasing stability if sustained. These figures are neighborhood-level and should be contextualized with on-site measures and submarket trends.
Compared with other neighborhoods nationwide, the area is not among the top safety percentiles today, but the downward trajectory in property offenses over the past year is a constructive signal. Investors may wish to underwrite continued security and lighting upgrades, and to monitor metro-level crime initiatives that could reinforce the improving trend.
Proximity to advanced manufacturing and technology employers supports a steady, professional renter base and convenient commutes, which can aid leasing velocity and retention. Key nearby employers include Sanmina, Lam Research, and Synnex.
- Sanmina Corporation — electronics manufacturing (1.9 miles)
- Lam Research - CA9 — semiconductor equipment offices (2.5 miles)
- Synnex — technology distribution (2.6 miles) — HQ
- Lam Research Corporation CA8 — semiconductor equipment offices (2.7 miles)
- Lam Research — semiconductor equipment (2.9 miles) — HQ
This 44-unit, 1973-vintage asset offers clear value-add potential in a neighborhood with strong amenities, top-tier schools, and a renter-leaning housing mix. Elevated home values locally reinforce reliance on multifamily, while neighborhood occupancy has remained above national norms, supporting income stability as renovations are executed.
Within a 3-mile radius, households are projected to expand and incomes are elevated, creating depth for quality units and supporting rent growth management. According to WDSuite’s commercial real estate analysis, the surrounding neighborhood ranks well for housing fundamentals and amenity access, positioning well-located, renovated assets to compete effectively against older stock.
- Value-add upside from 1973 vintage via interiors, common areas, and systems planning
- Majority renter-occupied housing units signal a deep tenant base and demand resilience
- High-cost ownership market supports sustained multifamily reliance and pricing power
- Amenity-rich location and top-rated schools enhance leasing appeal and retention
- Risk: neighborhood safety sits below national median; underwrite security measures and monitor trends