| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 88th | Best |
| Demographics | 72nd | Good |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 29405 Dixon St, Hayward, CA, 94544, US |
| Region / Metro | Hayward |
| Year of Construction | 1985 |
| Units | 30 |
| Transaction Date | 2005-04-05 |
| Transaction Price | $4,215,000 |
| Buyer | ELIZONDO TOLEDO PROPERTIES LLC |
| Seller | HOULIHAN P MICHAEL |
29405 Dixon St Hayward Multifamily Investment
This 30-unit property built in 1985 operates in a neighborhood with above-average net operating income per unit and strong rental tenure, according to CRE market data from WDSuite.
Located in Hayward's inner suburban landscape, this neighborhood demonstrates solid fundamentals for multifamily investors. The area ranks in the top quartile nationally for housing metrics among the Oakland-Berkeley-Livermore metro's 469 neighborhoods, with neighborhood-level occupancy at 95.3% and a rental share of 58.2% of housing units. Net operating income per unit averages $14,691, placing the neighborhood in the 94th percentile nationally.
The property's 1985 construction year aligns closely with the neighborhood average of 1989, suggesting consistent building stock that may present value-add renovation opportunities for investors seeking to modernize units. Median contract rent has increased 28.8% over five years to $2,256, while the surrounding 3-mile radius shows household income growth of 44% over the same period, supporting tenant purchasing power.
Demographics within a 3-mile radius reveal a stable tenant base, with 39% of housing units renter-occupied and median household income of $114,593. The area maintains moderate amenity density with childcare and grocery access, though cafe and pharmacy availability remains limited. Home values averaging $919,508 in the neighborhood reinforce rental demand, as elevated ownership costs sustain reliance on multifamily housing options.
The neighborhood's safety profile reflects mixed conditions relative to regional benchmarks. Property crime rates have declined 28.6% over the past year, indicating improving trends, though the neighborhood ranks in the lower third among Oakland-Berkeley-Livermore metro neighborhoods for overall crime metrics. Violent crime rates remain below many urban centers but have increased 23.1% year-over-year, warranting consideration in tenant retention and property management strategies.
The surrounding employment base includes established corporate offices that support workforce housing demand, with several major employers within commuting distance of the property.
- Caterpillar — heavy equipment manufacturing (3.6 miles)
- Ryder — logistics and transportation (4.5 miles)
- The Clorox Company — consumer products (9.1 miles)
- Sanmina Corporation — electronics manufacturing (9.4 miles)
- Synnex — technology distribution (10.0 miles) — HQ
This Hayward property operates in a neighborhood with demonstrated rental market strength, including 95.3% occupancy and net operating income per unit in the 94th percentile nationally. The 1985 construction year presents potential value-add opportunities through strategic renovations, while the area's 58.2% rental share indicates sustained multifamily demand. Household income growth of 44% over five years within the 3-mile radius supports tenant retention and rent growth potential.
Population projections show modest decline but increasing household formation, with forecast median household income rising 53% to $175,203 by 2028. The proximity to established corporate employers like Caterpillar and Clorox provides workforce stability, though investors should consider the mixed safety profile and limited retail amenities in lease-up and retention strategies.
- Neighborhood NOI per unit ranks in 94th percentile nationally
- Strong occupancy at 95.3% with 58% rental tenure
- 1985 vintage offers value-add renovation potential
- Proximity to major employers supports workforce demand
- Risk consideration: Mixed safety profile requires active management