| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 71st | Good |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5245 Mowry Ave, Fremont, CA, 94538, US |
| Region / Metro | Fremont |
| Year of Construction | 1972 |
| Units | 72 |
| Transaction Date | 2020-11-19 |
| Transaction Price | $25,190,000 |
| Buyer | PRIME FARWELL LLC |
| Seller | GLENMOOR GREEN II APARTMENTS LLC |
5245 Mowry Ave, Fremont Value-Add Multifamily
Neighborhood occupancy has remained exceptionally tight according to WDSuite’s CRE market data, supporting durable renter demand near Fremont’s employment centers. For investors, that stability—measured at the neighborhood level, not the property—pairs with high incomes and elevated ownership costs to underpin long-term leasing fundamentals.
Positioned in Fremont’s inner suburban fabric of the Oakland–Berkeley–Livermore metro, the neighborhood carries an A- rating and ranks 100 out of 469 metro neighborhoods—placing it in the top quartile locally. According to WDSuite’s CRE market data, neighborhood occupancy trends are among the metro’s strongest, while rent levels sit near the high end nationally, indicating deep-paying demand and pricing power for well-managed assets.
Livability supports are broad-based. Grocery and dining density score in high national percentiles, and overall amenities are competitive among Oakland–Berkeley–Livermore neighborhoods. Average school ratings sit above national norms, which can help retention for family renters. A practical caveat: immediate park and pharmacy counts trend light inside the neighborhood footprint, suggesting residents may rely on adjacent districts for those needs.
Within a 3-mile radius, households have edged higher over the past five years even as average household size moderated, pointing to a larger, more diversified tenant base over time. Median incomes are high and continue to rise, and the homeownership market is a high-cost environment; together, these dynamics typically sustain reliance on multifamily rentals and support lease stability.
Tenure patterns within 3 miles indicate a substantial renter-occupied share—roughly half of housing units—signaling a deep pool of prospective renters for a property of this scale. With neighborhood NOI per unit performing near the top nationally and sustained renter demand, operators focused on service quality and asset presentation can compete effectively against comparable suburban product.
Safety indicators benchmark favorably versus national norms overall, with the neighborhood tracking above the national median according to WDSuite’s dataset. Recent readings show notable year-over-year declines in both property and violent offense rates, an encouraging trend that supports leasing confidence and resident retention without relying on block-level claims.
As with any urban-suburban corridor, conditions can vary by micro-location and over time. Investors should align on standard practices—lighting, access controls, and resident engagement—to sustain these improvements alongside broader neighborhood trends.
The property sits near a concentration of advanced manufacturing and technology employers that anchor local renter demand and shorten commutes. Key nearby employers include Sanmina, SYNNEX, Lam Research, Thermo Fisher Scientific, and additional Silicon Valley corporate offices.
- Sanmina Corporation — electronics manufacturing (2.3 miles)
- Synnex — technology distribution (2.9 miles) — HQ
- Lam Research - CA9 — semiconductor equipment offices (3.7 miles)
- Lam Research — semiconductor equipment (4.0 miles) — HQ
- Thermo Fisher Scientific — life sciences (4.4 miles)
Built in 1972, the 72-unit asset offers clear value-add and capital planning angles relative to nearby 1970s-vintage stock—modernization can sharpen competitive positioning against high-income renter cohorts. At the neighborhood level, occupancy has been exceptionally tight and rents benchmark near the top nationally; combined with elevated home values, this reinforces multifamily reliance and supports steady leasing, according to CRE market data from WDSuite.
Within a 3-mile radius, household counts have trended upward while household size edges lower, indicating a larger tenant base over time. High median incomes and a substantial renter-occupied share support depth of demand, while nearby tech and life-science employers provide a consistent stream of qualified renters. Key risks include aging systems typical of early-1970s properties and lighter nearby parks/pharmacy access, which should be addressed through operations and amenity strategy.
- Tight neighborhood occupancy and high rent positioning support durable cash flow potential
- 1972 vintage presents value-add and systems-upgrade opportunities to enhance competitiveness
- High household incomes and elevated ownership costs reinforce reliance on rentals and retention
- Proximity to tech and life-science employers widens the qualified renter pool
- Risks: aging infrastructure and lighter immediate park/pharmacy access require targeted asset and ops plans