| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 41st | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21964 Arbor Ave, Hayward Acres, CA, 94541, US |
| Region / Metro | Hayward Acres |
| Year of Construction | 1987 |
| Units | 23 |
| Transaction Date | 2002-12-26 |
| Transaction Price | $4,300,000 |
| Buyer | SOHAL INC |
| Seller | CHUANG SAN TSAI |
21964 Arbor Ave Hayward Acres Multifamily Investment
Neighborhood occupancy hovers near 96% with a deep renter-occupied base, supporting leasing stability according to WDSuite’s CRE market data.
Hayward Acres sits within the Oakland–Berkeley–Livermore metro and rates B- overall, offering strong everyday convenience and a renter-driven housing mix that supports multifamily demand. Dining and daily-needs access are notable — restaurants and grocery options rank in the top decile nationally, while cafes and childcare density are also above average. Limited park and pharmacy access locally suggests residents rely on nearby submarkets for those needs.
For investors, the area’s occupancy is competitive nationally (around the 78th percentile) among neighborhoods and the share of renter-occupied housing is high (above the 90th percentile nationwide), indicating a sizable tenant pool and depth for renewals and lease-up. Median home values sit in the high-cost range (about the 95th percentile nationally) and the value-to-income ratio is elevated relative to most U.S. neighborhoods; together, these ownership dynamics tend to sustain reliance on rental housing and can support pricing power when balanced with rent-to-income considerations.
Schools in the neighborhood score in the lower national percentiles, which is a consideration for family-oriented product. Still, the immediate amenity base — especially restaurants, groceries, and childcare — aligns with workforce housing needs and everyday convenience.
Demographic statistics aggregated within a 3-mile radius show relatively stable population counts with modest shifts by age cohort and rising incomes. Forecasts point to an increase in households and a slight reduction in average household size, which generally expands the renter pool and can support occupancy stability for well-positioned assets.
The property’s 1987 vintage is newer than the neighborhood’s average construction year (1973). That positioning can be competitive versus older stock, though investors should plan for selective modernization and systems updates to sharpen curb appeal and operating performance.
Safety trends are mixed. Compared with neighborhoods nationwide, overall crime levels track below the national median for safety, with violent and property offenses sitting in lower national percentiles. Recent year-over-year declines — including a notable drop in property offenses and an improvement in violent offense rates — indicate directional improvement, though the area still compares less favorably than higher-percentile neighborhoods. Investors commonly underwrite to on-site security measures and resident screening to manage risk.
Proximity to diversified employers supports a broad workforce renter base and commute convenience. Nearby corporate offices include Ryder, Caterpillar, Chevron, The Clorox Company, and Gilead Sciences — exposure that can help leasing velocity and retention for well-managed assets.
- Ryder — logistics & fleet services (1.6 miles)
- Caterpillar — industrial equipment offices (2.8 miles)
- Chevron — energy (10.2 miles) — HQ
- The Clorox Company — consumer products offices (11.1 miles)
- Gilead Sciences — biopharma (11.9 miles) — HQ
21964 Arbor Ave is a 23-unit, 1987-vintage asset positioned in a renter-heavy neighborhood with stable occupancy and strong daily-needs access. Elevated home values in the area reinforce reliance on multifamily housing, and restaurants, groceries, and childcare density compare favorably at the national level. According to CRE market data from WDSuite, neighborhood occupancy is strong and the renter-occupied share is high, supporting a durable tenant base and predictable leasing. The 1987 construction provides a relative edge versus older local stock, with targeted updates offering potential to capture additional rent and retention.
Within a 3-mile radius, incomes are rising and households are projected to increase even as average household size trends down slightly — dynamics that can expand the renter pool and support occupancy stability. Key risks to underwrite include local safety metrics that remain below national medians despite recent improvements, lower school ratings for family renters, and limited parks/pharmacies in the immediate area.
- Renter-heavy neighborhood and strong occupancy support steady demand
- Elevated ownership costs bolster multifamily reliance and pricing power
- 1987 vintage offers competitive positioning with value-add upgrade potential
- 3-mile household growth and income gains expand the tenant base
- Risks: below-median safety, weaker school ratings, limited nearby parks/pharmacies