| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 58th | Fair |
| Amenities | 39th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 24000 2nd St, Hayward, CA, 94541, US |
| Region / Metro | Hayward |
| Year of Construction | 1988 |
| Units | 45 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
24000 2nd St Hayward Multifamily in High-Cost Market
Neighborhood data points to a deep renter pool and occupancy stability at the neighborhood level, according to WDSuite’s commercial real estate analysis. Elevated ownership costs in the East Bay support sustained rental demand and lease retention potential.
Set in Hayward’s Urban Core within the Oakland–Berkeley–Livermore metro, the neighborhood tracks below the metro median overall (C+ rating; rank 301 of 469), but it exhibits several investor-friendly drivers: grocery and park access test strong versus national peers (both around the top quintile nationally), while cafes and pharmacies are comparatively sparse. School options sit near the national middle based on average ratings, which helps broaden appeal to a range of renter households.
For multifamily fundamentals, the neighborhood’s renter-occupied share is high (62.4% of units are renter-occupied; top decile nationally), signaling depth of tenant demand. Neighborhood occupancy hovers around the mid-to-upper national range (about mid-60s percentile), supporting income stability through cycles. Median asking rents trend toward the higher end nationally, consistent with broader East Bay pricing, while lease-up and renewals benefit from the area’s established renter base.
Ownership remains a high-cost proposition here relative to incomes (home values sit in the low-to-mid 90s national percentile and value-to-income ranks among the highest nationally). For investors, that dynamic tends to reinforce reliance on multifamily housing and can support pricing power, though it warrants attentive lease management because rent-to-income ratios indicate some affordability pressure for certain cohorts.
Vintage also favors competitive positioning: the property’s 1988 construction is newer than the neighborhood’s average vintage (late 1960s). That typically reduces near-term functional obsolescence versus older stock and can support renter appeal; however, investors should still underwrite for aging systems, common-area refresh, and targeted modernization to sustain performance against newer deliveries.
Demographic statistics aggregated within a 3-mile radius show a stable population base with forecasts pointing to population growth and a notable increase in households by 2028. Rising incomes in the area further support rent levels and help underpin occupancy stability, expanding the prospective renter pool over the medium term.
Safety performance is mixed and should be monitored. Relative to the Oakland–Berkeley–Livermore metro, the neighborhood ranks below the metro average (315 out of 469 neighborhoods). Nationally, safety metrics sit below the midrange; however, recent year-over-year trends point to improvement, with estimated decreases in both property and violent offense rates. Investors should underwrite for prudent security measures and resident engagement while recognizing the improving trajectory.
Nearby employment anchors span logistics, industrial equipment, energy, consumer products, and off-price retail. This mix supports renter demand via commute convenience and a diverse wage base, which can aid retention and stabilize leasing.
- Ryder — logistics (3.3 miles)
- Caterpillar — industrial equipment offices (3.9 miles)
- Chevron — energy (8.6 miles) — HQ
- The Clorox Company — consumer products (9.3 miles)
- Ross Stores — off-price retail (10.4 miles) — HQ
24000 2nd St offers exposure to an East Bay neighborhood where renter-occupied housing concentration is high and neighborhood occupancy trends sit above the national midpoint, supporting income durability. Elevated ownership costs relative to incomes reinforce reliance on multifamily housing, while the property’s 1988 vintage is newer than the area’s average stock, helping competitiveness versus older buildings with the caveat that capital planning for systems and cosmetic upgrades remains important.
Within a 3-mile radius, forecasts indicate population growth, an increase in households by 2028, and rising incomes — all supportive of a larger tenant base and lease retention. According to CRE market data from WDSuite, local amenities skew toward groceries and parks, with fewer cafes and pharmacies, suggesting a livable but pragmatic location profile near diversified employment centers.
- High renter-occupied share and neighborhood occupancy above national midpoint support demand stability
- 1988 construction offers competitive positioning versus older local stock with targeted value-add potential
- East Bay ownership costs underpin multifamily reliance, aiding pricing power and renewals
- Diverse nearby employers help sustain leasing and reduce volatility across cycles
- Risks: affordability pressure (rent-to-income), mixed safety versus metro, and selective amenity gaps require active management