| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 88th | Best |
| Demographics | 72nd | Good |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 29359 Dixon St, Hayward, CA, 94544, US |
| Region / Metro | Hayward |
| Year of Construction | 1992 |
| Units | 24 |
| Transaction Date | 2007-12-27 |
| Transaction Price | $1,000,000 |
| Buyer | 2518-30 35TH AVENUE LLC |
| Seller | SIMOTAS JERRY |
29359 Dixon St Hayward Multifamily Investment Opportunity
Neighborhood occupancy is strong and renter demand is deep, according to WDSuite’s CRE market data, with the area maintaining a mid-90s occupancy level and a majority of units renter-occupied. This positions the property for stable leasing while tapping into a broad tenant base in Alameda County.
Situated in Hayward’s inner suburban fabric of the Oakland–Berkeley–Livermore metro, the neighborhood carries a B+ rating (ranked 140 among 469 metro neighborhoods), signaling above-median fundamentals for investors screening assets. Elevated home values in the subarea reinforce renter reliance on multifamily housing, supporting pricing power and lease retention for well-managed properties.
Renter-occupied housing comprises about 58% of local units at the neighborhood level, indicating a sizable tenant base and demand depth for multifamily. Neighborhood occupancy is in the mid-90s, which supports cash flow stability relative to many national peers, based on CRE market data from WDSuite. The neighborhood also posts top-decile performance nationally on NOI per unit, a signal of competitive operating potential at the neighborhood scale rather than a guarantee for any single asset.
Within a 3-mile radius, household counts have ticked up even as population has been roughly flat, and WDSuite’s data indicates households are projected to increase further by 2028 alongside smaller average household sizes. For multifamily, this dynamic typically expands the renter pool and helps sustain occupancy and leasing velocity.
Day-to-day livability factors are balanced: grocery access and parks track above national medians, while cafes and pharmacies are thinner locally, which may modestly favor auto-oriented errands. School rating data is not available in this dataset and should be underwritten separately if student-demand dynamics are material to the strategy.
Safety indicators for the neighborhood trend below national benchmarks overall (national percentiles in the lower third), suggesting investors should underwrite prudent security measures and tenant screening. However, WDSuite’s data shows a notable year-over-year decline in property offenses, indicating recent improvement even if overall levels remain elevated relative to many U.S. neighborhoods.
Given these mixed signals, investors commonly budget for lighting, access controls, and partnership with professional management to support retention and community standards. Comparisons should be made against peer neighborhoods within the Oakland–Berkeley–Livermore metro to calibrate expectations and assess trajectory rather than relying on block-level anecdotes.
The surrounding employment base includes distribution, manufacturing, and corporate offices that support renter demand through short commutes and diversified job drivers. Key nearby employers include Caterpillar, Ryder, The Clorox Company, Sanmina, and Synnex.
- Caterpillar — industrial equipment (3.6 miles)
- Ryder — logistics (4.4 miles)
- The Clorox Company — consumer products (9.1 miles)
- Sanmina Corporation — electronics manufacturing (9.4 miles)
- Synnex — technology distribution (10.1 miles) — HQ
Built in 1992, the asset is slightly newer than the neighborhood average vintage, offering competitive positioning versus older stock while still presenting potential to modernize interiors and building systems for revenue lift. Neighborhood-level metrics indicate stable occupancy and a majority renter-occupied housing mix, supporting depth of demand and lease-up resilience.
Elevated ownership costs in the area help sustain renter reliance on multifamily units, while neighborhood NOI per unit trends in the top decile nationally. According to CRE market data from WDSuite, occupancy is above many national peers and household counts within 3 miles are expected to rise even as household sizes shrink—factors that generally expand the renter pool and support cash flow durability. Risks include below-national safety percentiles and thinner café/pharmacy density, warranting conservative underwriting and operational focus.
- Stable neighborhood occupancy and sizeable renter-occupied share support leasing durability
- 1992 vintage offers value-add potential via targeted renovations and system upgrades
- Elevated home values reinforce reliance on rentals, supporting pricing power
- Neighborhood NOI per unit trends in the top decile nationally
- Risks: below-national safety percentiles and lean café/pharmacy density call for prudent operations