| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 37th | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 22230 S Garden Ave, Hayward, CA, 94541, US |
| Region / Metro | Hayward |
| Year of Construction | 1981 |
| Units | 29 |
| Transaction Date | 2024-04-29 |
| Transaction Price | $8,500,000 |
| Buyer | GARDEN AVE HAYWARD LLC |
| Seller | MARIA MARQUEZ LIVING TRUST |
22230 S Garden Ave Hayward Multifamily Investment
Neighborhood occupancy sits in the mid-90s, pointing to stable leasing potential for a 29-unit asset, according to CRE market data from WDSuite.
Located in Hayward's Urban Core, the neighborhood is rated B and ranks above the metro median among 469 Oakland-Berkeley-Livermore neighborhoods, signaling balanced fundamentals and dependable renter demand for multifamily.
Essential retail access is a local strength: grocery and pharmacy density trends in the top quartile nationally, and restaurants show strong representation. These amenities support day-to-day convenience and reduce friction for resident retention.
The share of renter-occupied housing is near half at the neighborhood level, indicating a deep tenant base that can support steady absorption and renewals. Neighborhood occupancy is also in the top quartile nationally, which typically supports pricing power and limits downtime between turns.
Construction trends skew older locally (average vintage 1966). With a 1981 build, this property is newer than the area's typical stock, a relative edge for leasing versus mid-century assets; investors should still plan for ongoing system updates and selective modernization to remain competitive.
Within a 3-mile radius, demographics show a large, diversified population and incomes that have risen over the last cycle, with projections indicating an increase in households and smaller household sizes by 2028. For multifamily, that combination can expand the renter pool and support occupancy stability, even if population growth is mixed.
Elevated home values at the neighborhood level (top decile nationally) confirm a high-cost ownership market for the metro. That context typically sustains reliance on rental housing and can bolster lease retention for well-positioned apartments.
Safety indicators for the neighborhood trend below national averages, and the area ranks in the lower tier among the 469 metro neighborhoods. That context warrants prudent security and property management budgeting for investor underwriting.
Recent data show property offenses have declined over the past year, an encouraging directional trend, though violent- and property-crime benchmarks remain weaker than national medians. Framing risk comparatively—rather than at the block level—is appropriate for decision-making and underscores the value of active on-site management and resident engagement.
Proximity to established corporate employers supports a broad commuter tenant base and can aid leasing stability. Nearby employment nodes include Ryder, Caterpillar, Chevron, The Clorox Company, and Gilead Sciences.
- Ryder — logistics and fleet services (1.39 miles)
- Caterpillar — industrial equipment offices (2.58 miles)
- Chevron — energy offices (10.36 miles) — HQ
- The Clorox Company — consumer products offices (11.18 miles)
- Gilead Sciences — biopharma (11.69 miles) — HQ
22230 S Garden Ave offers a straightforward thesis: a 29-unit, 1981-vintage asset positioned in a neighborhood that ranks above the metro median with top-quartile occupancy and strong everyday amenities. Elevated home values in the area reinforce reliance on rental housing, while rent-to-income levels indicate manageable affordability pressure that can support retention and steady collections. According to CRE market data from WDSuite, the neighborhood's occupancy stability and renter concentration underpin consistent leasing performance for well-managed multifamily.
Within a 3-mile radius, projections point to more households and smaller average household sizes by 2028—both supportive of a larger renter pool. Being newer than much of the surrounding stock, the property can compete effectively versus mid-century assets, though ongoing capital planning for building systems and targeted upgrades remains important. Key risks include safety metrics that trail national benchmarks and population growth that may be uneven across micro-areas.
- Neighborhood ranks above metro median among 469 areas, with top-quartile occupancy supporting leasing stability
- 1981 vintage is newer than local average, offering competitive positioning versus older stock
- Elevated home values sustain renter reliance, while rent-to-income trends support retention and collections
- Risks: below-average safety benchmarks and mixed population trends call for proactive management and underwriting discipline