| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 88th | Best |
| Demographics | 72nd | Good |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 28955 Mission Blvd, Hayward, CA, 94544, US |
| Region / Metro | Hayward |
| Year of Construction | 1988 |
| Units | 30 |
| Transaction Date | 2019-05-20 |
| Transaction Price | $18,750,000 |
| Buyer | HFLLP MISSION BAY LLC |
| Seller | MARCOTTE FAMILY LIMITED PARTNERSHIP |
28955 Mission Blvd Hayward Multifamily Investment
Neighborhood occupancy trends sit in the stronger range nationally and renter concentration is elevated, according to WDSuite’s CRE market data, supporting stable leasing dynamics for a 30-unit asset in an Inner Suburb location. High-cost ownership in Alameda County further sustains renter demand, while incomes in the area provide room for rent-to-income management.
Neighborhood fundamentals and livability
The property is situated in Hayward’s Inner Suburb fabric, competitive among Oakland-Berkeley-Livermore neighborhoods (ranked 140 out of 469). According to CRE market data from WDSuite, neighborhood occupancy is in the top quartile nationally, pointing to resilient renter demand and supporting lower downtime between turns for professionally managed assets.
Renter-occupied share is high for the neighborhood (above national norms), indicating a deep tenant base for multifamily operators and potential stability across lease cycles. Median contract rents for the neighborhood benchmark well above the nation, so positioning, finish level, and unit mix will matter for absorption and renewal performance.
Livability is balanced: grocery and park access index above national averages, while cafes and pharmacies are comparatively sparse nearby. For investors, that mix suggests residents rely on established commercial corridors for daily needs, which can support consistent local foot traffic but may reduce immediate walk-to amenity appeal.
Housing metrics are strong (top quartile nationally), and neighborhood NOI per unit benchmarks near the top of national peers, reinforcing the area’s revenue potential when operations are optimized. School rating data are limited at this granularity; operators typically lean on broader district context when marketing to households.
Safety context
Relative to neighborhoods nationwide, the area benchmarks below average on safety, with indicators placing it outside the top half nationally. Within the Oakland-Berkeley-Livermore metro, it tracks below the metro average (ranked 374 out of 469 neighborhoods), so prudent security, lighting, and site-level monitoring can be useful for retention and operations.
Recent trend data show property-related incidents improving on a year-over-year basis, which is a constructive signal, while violent incident benchmarks remain weaker than national norms. Framing safety in marketing should focus on on-site controls and proximity to main corridors rather than block-level claims.
Nearby employers supporting renter demand
The local employment base spans heavy equipment, logistics, consumer products, electronics manufacturing, and energy — a mix that supports workforce and professional renter demand for Hayward submarkets. Notable nearby employers include Caterpillar, Ryder, The Clorox Company, Sanmina Corporation, and Chevron.
- Caterpillar — heavy equipment (3.6 miles)
- Ryder — logistics (4.3 miles)
- The Clorox Company — consumer products (9.0 miles)
- Sanmina Corporation — electronics manufacturing (9.7 miles)
- Chevron — energy (10.0 miles) — HQ
Why invest
28955 Mission Blvd offers a 30-unit footprint with spacious average layouts around 1,083 square feet, suitable for family and roommate demand segments. Neighborhood fundamentals are constructive: occupancy benchmarks in the top quartile nationally and a higher renter-occupied share indicate a durable tenant base, while a high-cost ownership market in Alameda County tends to sustain reliance on rental housing. According to CRE market data from WDSuite, neighborhood NOI per unit ranks among top national peers, reinforcing revenue potential with sound operations.
Constructed in 1988, the asset reflects late-80s building systems. Competitive positioning can benefit from targeted modernization (common areas, energy efficiency, and interiors) to stand out against older stock, while maintaining affordability relative to newer, premium builds. Within a 3-mile radius, households have increased even as population edges down, implying smaller household sizes and a broader renter pool over time — supportive of occupancy stability and renewal prospects. Forward rent benchmarks indicate continued growth potential in line with East Bay dynamics, suggesting pricing power for well-operated properties.
- Top-quartile neighborhood occupancy and elevated renter concentration support stable leasing
- Larger average unit sizes enhance retention and appeal to multi-occupant households
- High-cost ownership market underpins multifamily demand and renewal potential
- 1988 vintage offers value-add potential via selective system upgrades and renovations
- Risks: below-average safety benchmarks and limited nearby cafes/pharmacies require thoughtful on-site management and marketing