| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 88th | Best |
| Demographics | 72nd | Good |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 29371 Dixon St, Hayward, CA, 94544, US |
| Region / Metro | Hayward |
| Year of Construction | 1988 |
| Units | 45 |
| Transaction Date | 2023-01-13 |
| Transaction Price | $11,600,000 |
| Buyer | WSB VICTORIA PARK LLC |
| Seller | REDD EXEMPTION TRUST |
29371 Dixon St Hayward Multifamily with Stable Renter Demand
Neighborhood occupancy around 95% and a renter-occupied share near 58% point to a deep tenant base for steady leasing, according to WDSuite’s CRE market data. Positioned in Hayward’s inner suburb, the asset benefits from strong household incomes and a high-cost ownership market that can sustain rental demand.
Located in Hayward’s Inner Suburb, the neighborhood is competitive among Oakland-Berkeley-Livermore neighborhoods (ranked 140 out of 469) and sits above national medians on several housing and demographic measures. Occupancy in the neighborhood is about 95%, supporting stability, while the share of housing units that are renter-occupied is roughly 58%, indicating meaningful depth for multifamily demand based on CRE market data from WDSuite.
Livability trends are balanced: grocery and parks access is solid for daily needs, though cafes and pharmacies are thinner locally. Neighborhood rents benchmark high versus national norms, and median household incomes are also high, which together support collections and pricing power. Elevated home values relative to local incomes signal a high-cost ownership market that tends to reinforce reliance on rental housing and can aid lease retention.
Demographic statistics are aggregated within a 3-mile radius. Over the past five years, total population has been roughly flat to slightly down, while household counts increased and average household size edged lower; forward projections show households continuing to grow even as population is expected to dip modestly. For investors, this pattern points to a larger pool of households and a steady renter pipeline, which can support occupancy and leasing consistency.
Safety indicators for the neighborhood are below national averages overall (national safety percentile in the 30s), and the area ranks on the weaker side within the Oakland-Berkeley-Livermore metro (measured against 469 neighborhoods). That said, property offense rates showed a notable year-over-year improvement, while violent offense metrics have recently trended less favorably. Investors should view this as a mixed but improving property-crime trend and monitor local data over time rather than block-level conditions.
Nearby employers span manufacturing, logistics, and consumer products, supporting a broad workforce and convenient commutes that underpin renter demand and retention. This includes Caterpillar, Ryder, The Clorox Company, Sanmina Corporation, 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 services (9.4 miles)
- Synnex — IT distribution (10.1 miles) — HQ
The property is positioned in a neighborhood with occupancy near the mid-90s and a renter-occupied share around the high-50s, providing a broad tenant base and support for leasing stability. High household incomes alongside elevated home values create a high-cost ownership market that typically sustains multifamily demand and can bolster pricing power. Neighborhood operating performance is strong, with NOI per unit levels ranking in the top decile nationally, based on CRE market data from WDSuite.
Within a 3-mile radius, households have grown even as population is expected to edge down, reflecting smaller household sizes and a steady inflow of renter households — dynamics that can support stable occupancy and renewals. Amenity access meets daily needs, and proximity to diversified employers supports consistent demand; however, investors should underwrite conservatively around local safety trends and monitor forward demographic shifts.
- Occupancy and renter concentration support steady leasing and retention
- High-cost ownership market reinforces reliance on rental housing and pricing power
- Neighborhood operating performance ranks in the national top decile for NOI per unit
- Diverse nearby employers underpin workforce housing demand
- Risks: below-average safety metrics and forecast population softness warrant conservative underwriting