| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 37th | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 691 Tehama Ave, Hayward, CA, 94541, US |
| Region / Metro | Hayward |
| Year of Construction | 1987 |
| Units | 26 |
| Transaction Date | 2005-03-15 |
| Transaction Price | $3,200,000 |
| Buyer | SINGH SUKH D |
| Seller | SHAO STANLEY |
691 Tehama Ave, Hayward CA Multifamily Opportunity
Neighborhood occupancy is in the mid-90s and renter concentration is near half of units, pointing to steady tenant demand, according to WDSuite’s CRE market data.
Located in Hayward’s Urban Core within the Oakland-Berkeley-Livermore metro, the neighborhood rates a solid B and sits above the metro median (rank 223 of 469). Amenity access is competitive among 469 metro neighborhoods, with strong coverage of groceries and pharmacies and a meaningful parks presence that supports daily convenience for renters.
Multifamily dynamics are supportive: neighborhood occupancy is approximately 95.7%, which is above many U.S. submarkets and indicates stable leasing conditions at the neighborhood level rather than at this specific property. The share of renter-occupied housing is 46.9%, suggesting a deep tenant base and reasonable absorption potential for well-positioned units.
Within a 3-mile radius, recent trends show a slight population dip but a modest increase in household counts forecast over the next five years, implying smaller household sizes and potential renter pool expansion. Median incomes have risen notably over time, which can underpin rent collections and reduce turnover risk for professionally managed properties.
Ownership costs are elevated relative to incomes (high value-to-income ratio) and median home values are high for the region. In practice, this high-cost ownership market reinforces reliance on rental housing and can support lease retention and pricing power for appropriately renovated product.
Vintage context: the neighborhood’s average construction year skews older (1966). This property was built in 1987, giving it a relative edge versus older stock, while still warranting capital planning for aging systems or selective renovations to remain competitive.
Safety indicators for the neighborhood are below metro averages (crime rank 381 out of 469), placing it below the national median (around the 33rd percentile nationwide). Investors should underwrite with prudent security and operations budgets and focus on professional management practices.
Notably, property crime shows recent improvement, with estimated rates trending down year over year, while violent-offense measures have ticked higher. Taken together, conditions warrant standard risk controls and tenant communication, but the downward movement in property crime is a constructive sign to monitor over subsequent periods.
The location serves a diversified employment base that supports workforce renter demand and commute convenience, including logistics, heavy equipment, energy, consumer products, and biotech employers listed below.
- Ryder — logistics (1.3 miles)
- Caterpillar — heavy equipment offices (2.5 miles)
- Chevron — energy (10.5 miles) — HQ
- The Clorox Company — consumer products (11.2 miles)
- Gilead Sciences — biotech (11.6 miles) — HQ
This 26-unit, 1987-vintage asset offers a relative age advantage versus a neighborhood average year built of 1966, positioning it competitively against older stock while still benefiting from targeted modernization. At the neighborhood level, occupancy near 95.7% and a renter-occupied share around half indicate durable demand and leasing stability for well-managed units. Elevated home values and a high value-to-income ratio suggest a high-cost ownership market that can sustain renter reliance on multifamily housing.
Within a 3-mile radius, forecasts point to an increase in households even as population edges down, signaling smaller household sizes and a potentially larger renter base. Median incomes have strengthened over time, supporting collections and reducing turnover risk. According to CRE market data from WDSuite, these fundamentals align with steady performance expectations, provided investors budget for system upgrades and ongoing competitive positioning.
- Neighborhood occupancy near mid-90s supports stable leasing conditions at the neighborhood level.
- 1987 vintage is newer than local average, with scope for value-add through selective modernization.
- Elevated ownership costs reinforce rental demand and can support pricing power for updated units.
- 3-mile household growth outlook suggests a broader tenant base despite flat-to-down population trends.
- Risk: Safety metrics sit below metro averages; underwriting should include security and professional management focus.