| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 37th | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 22330 S Garden Ave, Hayward, CA, 94541, US |
| Region / Metro | Hayward |
| Year of Construction | 1974 |
| Units | 42 |
| Transaction Date | 2008-05-21 |
| Transaction Price | $3,666,000 |
| Buyer | VILLA SPRINGS APARTMENTS LP |
| Seller | EDEN HOUSING INC |
22330 S Garden Ave Hayward Multifamily Investment
Positioned in Hayward’s Urban Core, this 42-unit asset benefits from a renter-driven neighborhood with above-average occupancy and strong daily-needs amenities, according to WDSuite’s CRE market data. The location supports durable leasing fundamentals with a deep tenant base and pricing set by a high-cost ownership market.
The surrounding neighborhood rates B and is above the metro median (223 of 469) within the Oakland–Berkeley–Livermore metro, indicating competitive livability for workforce and commuter households. Daily-needs access is a clear strength: groceries and pharmacies rank competitively in the metro and sit in higher national percentiles, while restaurants are dense; cafés are less concentrated, which tilts the area toward convenience over boutique retail.
Multifamily fundamentals are supportive. Neighborhood occupancy is strong and sits in higher national percentiles, and the share of housing units that are renter-occupied is competitive among metro peers (near the top quartile), signaling depth in the tenant base and helping stabilize leasing. Median contract rents in the neighborhood are elevated versus many U.S. areas, yet rent-to-income levels remain manageable locally, which can aid retention and reduce turnover risk.
At the property level, the 1974 vintage is somewhat newer than the area’s average construction year (1966). That positioning can be competitively advantageous versus older stock, while still warranting selective modernization of systems and interiors for value-add potential and capital planning discipline.
Demographics are aggregated within a 3-mile radius. Recent years show a modest population dip alongside smaller average household sizes, and projections call for an increase in household counts. For investors, a rising household base with smaller sizes typically supports multifamily demand through a broader renter pool and steadier occupancy, even if population growth is muted.
For affordability context, elevated home values and a high value-to-income ratio characterize a high-cost ownership market. This dynamic generally reinforces reliance on rental housing, supporting tenant demand depth and providing potential pricing power for well-positioned assets, based on commercial real estate analysis trends observed in the metro.
Safety indicators for the neighborhood track below the metro average (weaker relative rank among 469 metro neighborhoods) and sit in lower national percentiles compared with U.S. peers. Investors should underwrite with conservative assumptions and emphasize on-site security, lighting, and resident engagement as part of operations planning.
Trend signals are mixed: property offense rates have shown a meaningful year-over-year decline, while violent offense levels have ticked up recently. The net read is gradual improvement in certain categories with ongoing variability in others. Prudent risk management and collaboration with local resources can help support resident experience and retention.
Nearby corporate offices provide a broad employment base that supports renter demand and commute convenience, notably in logistics, industrial equipment, energy, consumer products, and life sciences.
- Ryder — logistics (1.3 miles)
- Caterpillar — industrial equipment offices (2.5 miles)
- Chevron — energy (10.5 miles) — HQ
- The Clorox Company — consumer products (11.3 miles)
- Gilead Sciences — life sciences (11.6 miles) — HQ
This 42-unit, 1974-vintage asset in Hayward’s Urban Core is leveraged by a renter-concentrated neighborhood with above-median metro standing and strong daily-needs access. Elevated local ownership costs and competitive neighborhood occupancy underpin durable multifamily demand and potential pricing power. The vintage suggests relative competitiveness versus older stock, while leaving room for targeted upgrades to enhance NOI and retention.
According to CRE market data from WDSuite, neighborhood rents are elevated relative to many U.S. areas while rent-to-income remains manageable locally, supporting lease stability. Within a 3-mile radius, projections point to growth in household counts even as population trends are flat to modestly down, implying smaller households and a broader renter pool to support occupancy over the medium term.
- Renter-concentrated area and above-median metro ranking support leasing stability.
- High-cost ownership market reinforces rental demand and potential pricing power.
- 1974 vintage offers value-add potential through selective modernization.
- Household growth within 3 miles expands the renter pool despite flat population.
- Risks: safety metrics below metro average; maintain conservative underwriting and proactive operations.