| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 28th | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 26409 Gading Rd, Hayward, CA, 94544, US |
| Region / Metro | Hayward |
| Year of Construction | 1974 |
| Units | 61 |
| Transaction Date | 2005-10-07 |
| Transaction Price | $7,000,000 |
| Buyer | SFF 2 LLC |
| Seller | UPSIDE GADING LP |
26409 Gading Rd Hayward 61-Unit Multifamily
Occupancy in the surrounding neighborhood is about 95% with a high share of renter-occupied units, according to WDSuite’s CRE market data, indicating depth for tenant demand. The 1974 vintage is slightly older than the area’s average stock, suggesting practical value-add and capital planning opportunities.
Positioned in Hayward within the Oakland-Berkeley-Livermore metro, the neighborhood sits mid-pack among 469 metro neighborhoods (B- rating) and supports multifamily performance with roughly 95% occupancy at the neighborhood level. Renter-occupied units comprise about 68% of housing in the neighborhood, pointing to a deep tenant base that can support leasing stability for similar assets.
Everyday convenience is a local strength: grocery access ranks 55th of 469 in the metro and is in the 98th percentile nationally, with restaurants and cafes also testing in high national percentiles. Pharmacy availability trends strong as well. Park access is limited by comparison, so on-site open space or nearby private amenities may matter more for retention.
Home values in the neighborhood are elevated relative to incomes (median values near the mid-$700,000s and a high value-to-income ratio), which tends to reinforce renter reliance on multifamily housing and can support pricing power. Rent-to-income trends around the neighborhood indicate moderate affordability pressure, a helpful backdrop for renewal management and lease retention.
Within a 3-mile radius, demographics show stable population with an increase in households over the last five years and a projected expansion in households by 2028, implying a larger tenant base over time. Average household size is edging lower, which can sustain demand for rental units and support occupancy stability for well-managed properties.
From an investment lens, neighborhood NOI per unit benchmarks in the 95th percentile nationally, reflecting strong revenue potential for comparable assets. The average building vintage nearby is the mid-1970s; with this property built in 1974, investors can evaluate value-add upgrades to improve competitive positioning versus similar-aged stock.
Safety conditions are mixed relative to wider benchmarks. Compared with neighborhoods nationwide, the area trends below average for safety measures (violent and property offense percentiles are lower than national medians). Within the Oakland-Berkeley-Livermore metro (469 neighborhoods), the neighborhood performs below the metro average on crime rank.
Recent momentum is more constructive: estimated property offense rates show a notable year-over-year decline, indicating improving conditions. Investors should underwrite appropriate security, lighting, and operational practices while tracking continued trend improvement at the neighborhood level rather than relying on block-level assumptions.
Nearby corporate employment anchors support commute convenience and broaden the renter pool, led by industrial, logistics, consumer goods, energy, and life sciences employers.
- Caterpillar — industrial equipment (2.2 miles)
- Ryder — logistics and transportation (2.6 miles)
- The Clorox Company — consumer products (10.2 miles)
- Chevron — energy (10.4 miles) — HQ
- Gilead Sciences — life sciences (12.1 miles) — HQ
This 61-unit, 1974-vintage asset aligns with a renter-driven neighborhood where occupancy is about 95% and renter-occupied units are prevalent. Elevated for-sale home values and a high value-to-income ratio in the area reinforce long-term reliance on multifamily options, supporting depth of demand and potential pricing power. According to CRE market data from WDSuite, neighborhood NOI per unit benchmarks in the 95th percentile nationally, and amenity access (especially groceries, restaurants, and pharmacies) is competitive within the metro, which can aid retention.
The vintage is slightly older than the neighborhood average, creating straightforward opportunities for value-add upgrades and systems modernization to improve competitive positioning against similar 1970s assets. Demographics within a 3-mile radius indicate growing household counts and smaller household sizes over time, which can broaden the renter pool and support steady leasing. Key underwriting considerations include below-average school ratings, limited park access, and the need to monitor neighborhood safety trends even as recent property offense rates have improved.
- Renter-driven submarket with ~95% neighborhood occupancy supporting lease stability
- Strong amenity access and elevated home values reinforce multifamily demand and pricing power
- 1974 vintage offers practical value-add and systems modernization potential
- 3-mile household growth and smaller household sizes point to a larger tenant base over time
- Risks: below-average school ratings, limited parks, and safety performance below metro average