| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 28th | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 749 Schafer Rd, Hayward, CA, 94544, US |
| Region / Metro | Hayward |
| Year of Construction | 1988 |
| Units | 28 |
| Transaction Date | 2018-04-27 |
| Transaction Price | $7,400,000 |
| Buyer | SCHAFER GARDEN VENTURES LLC |
| Seller | GOSAIN BHUPINDER |
749 Schafer Rd Hayward Multifamily Investment
Neighborhood occupancy is around 95%, supporting leasing stability and pricing discipline, according to WDSuite’s CRE market data. Elevated ownership costs in Alameda County further sustain renter reliance on multifamily housing.
Located in Hayward’s Urban Core, the property benefits from strong day-to-day convenience: grocery access sits in the high end nationally (near the 98th percentile) with solid restaurant and café density. Park access is limited locally, which may modestly temper outdoor amenity appeal, but the area’s services mix remains a practical draw for renters.
Renter concentration is high at the neighborhood level, with about two-thirds of housing units renter-occupied, indicating depth in the tenant base and consistent demand for multifamily product. Neighborhood occupancy trends in the mid‑90s suggest steady lease-up and retention dynamics relative to many Bay Area submarkets, based on CRE market data from WDSuite.
Within a 3‑mile radius, population has been broadly flat in recent years while household counts have increased, pointing to smaller household sizes and a gradual expansion of the renter pool. Forward-looking projections continue this pattern: a slight dip in population alongside rising households and a lower average household size, which typically supports multifamily absorption and occupancy stability rather than single-family demand.
Home values in the neighborhood are elevated versus national norms and rank in the top decile nationally, reinforcing reliance on rental housing and supporting pricing power for professionally managed assets. Rent-to-income is comparatively manageable for the area (roughly the upper-20% range), which can aid lease retention and reduce turnover risk. Average NOI per unit for the neighborhood sits near the top of national comparisons, signaling healthy revenue performance for comparable assets, though individual property operations will vary.
School ratings in the neighborhood trend below national averages, which can be a consideration for family-oriented renters. The property’s 1988 vintage is newer than the neighborhood average stock from the late 1970s, positioning it competitively versus older buildings, while still warranting targeted system updates or common-area refreshes to optimize performance.
Safety indicators for the neighborhood track below national medians and are below the metro average among 469 Oakland–Berkeley–Livermore neighborhoods. While violent‑crime measures remain weaker than national comparisons, recent data shows a significant year‑over‑year decline in property‑crime rates, suggesting improving conditions. Investors should underwrite to current trends and local management strategies rather than assuming uniform performance across blocks.
Nearby corporate employers provide a diversified employment base and commute convenience that supports renter demand and retention, including Caterpillar, Ryder, The Clorox Company, Chevron, and Sanmina.
- Caterpillar — industrial equipment (2.4 miles)
- Ryder — logistics (2.9 miles)
- The Clorox Company — consumer products (10.0 miles)
- Chevron — energy (10.4 miles) — HQ
- Sanmina Corporation — electronics manufacturing (10.7 miles)
This 28‑unit asset, built in 1988, is newer than the neighborhood’s average vintage, offering a competitive edge versus older stock while leaving room for targeted value‑add through modernization of building systems and common areas. Neighborhood-level occupancy hovers near 95%, and a high share of renter‑occupied units signals depth in the tenant base. Elevated for‑sale housing costs in this part of Alameda County support sustained rental demand, while rent‑to‑income levels suggest room for disciplined pricing without outsized retention risk, according to CRE market data from WDSuite.
Within a 3‑mile radius, household growth outpacing population points to smaller household sizes and a larger renter pool over time, a favorable backdrop for stabilized occupancy and renewal momentum. Investors should note operational considerations around local school quality and safety benchmarking, which can influence marketing and amenity strategy, but the area’s amenity density and employment access underpin durable fundamentals.
- Newer 1988 vintage than neighborhood average, with clear modernization/value‑add pathways
- Neighborhood occupancy near 95% supports leasing stability and renewal strength
- Elevated home values reinforce renter reliance, supporting pricing power for quality assets
- 3‑mile household growth and smaller household sizes expand the renter pool over time
- Risks: below‑average safety and school ratings may require targeted tenant‑experience and security strategies