| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 36th | Poor |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 44 Harder Rd, Hayward, CA, 94544, US |
| Region / Metro | Hayward |
| Year of Construction | 1976 |
| Units | 46 |
| Transaction Date | 1997-03-27 |
| Transaction Price | $50,000 |
| Buyer | WOODLARK ASSOCIATES LP |
| Seller | FELSON ELLIOTT J |
44 Harder Rd Hayward CA Multifamily Value-Add
Renter concentration and a high-cost ownership landscape in Hayward underpin steady tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy trends are competitive nationally but trail metro leaders, making asset-level operations and positioning key.
Situated in Hayward’s Urban Core, the property benefits from strong daily-life access. Amenity availability ranks in the top quartile among 469 metro neighborhoods, with groceries, pharmacies, parks, and cafes clustering nearby, supporting day-to-day convenience and leasing appeal. Median rents in the neighborhood sit toward the upper end of the metro and have grown over the past five years, while the neighborhood occupancy rate is around national norms but below top Oakland–Berkeley–Livermore performers, based on CRE market data from WDSuite.
Housing dynamics favor multifamily demand: the share of renter-occupied units is in the top quartile among 469 metro neighborhoods, indicating a deep tenant base that can support leasing velocity and retention. At the same time, elevated home values relative to incomes signal a high-cost ownership market, which tends to sustain reliance on rental housing and can reinforce pricing power for well-managed assets.
Within a 3-mile radius, population totals have been steady, and household counts have increased with projections calling for additional household growth by mid-decade. A modest reduction in average household size and an income mix skewing toward higher brackets together suggest a renter pool with capacity for quality product, supporting occupancy stability and renewals when combined with effective lease management.
Vintage context matters: the area’s average construction year trends newer than this asset. Built in 1976, the property is older than the local average, which points to potential capital planning needs but also clear value-add and modernization opportunities to differentiate versus 1990s-vintage stock and capture rent premiums.
Safety signals are mixed. The neighborhood’s crime standing is below the metro average (ranked in the lower tiers among 469 neighborhoods) and below the national median overall. Recent trends show property offenses declining over the past year, while violent-crime indicators moved up, according to WDSuite’s CRE market data. Investors typically evaluate submarket and block-level patterns during diligence to calibrate leasing assumptions and operational costs.
Nearby employment includes industrial and consumer products, logistics, and regional corporate offices that support commuter convenience and workforce housing demand. Key names within a 13-mile radius include Caterpillar, Ryder, The Clorox Company, Chevron, and Ross Stores.
- Caterpillar — industrial equipment (2.7 miles)
- Ryder — logistics and fleet services (2.8 miles)
- The Clorox Company — consumer products (9.9 miles)
- Chevron — energy (9.9 miles) — HQ
- Ross Stores — retail corporate (11.1 miles) — HQ
This 46-unit, mid-1970s asset offers a practical value-add path in a renter-heavy pocket of Hayward. Neighborhood rents have demonstrated multi-year growth and sit toward the upper tier of the metro, while ownership costs remain elevated—factors that typically deepen the renter pool and can support pricing power for upgraded units. According to CRE market data from WDSuite, neighborhood occupancy is competitive nationally but trails metro leaders, suggesting that careful renovations and asset-level operations are important to capture demand.
Built in 1976, the property is older than the submarket’s average vintage, pointing to targeted capital expenditures (exteriors, systems, and interiors) as levers for rent repositioning versus 1990s-era comparables. Larger average unit sizes for the area can aid retention, and steady 3-mile household growth projections indicate a broader tenant base through mid-decade. Key risks include mixed safety signals versus metro peers and the need to underwrite capex and lease-up cadence thoughtfully.
- Renter-heavy neighborhood and high-cost ownership bolster multifamily demand
- Demonstrated rent growth with room for value-add repositioning
- 1976 vintage creates clear renovation and systems-upgrade upside
- Household growth in 3-mile radius supports tenant base expansion
- Risks: mixed safety vs. metro and capex/lease-up execution requirements