| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 58th | Fair |
| Amenities | 39th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 920 Fletcher Ln, Hayward, CA, 94544, US |
| Region / Metro | Hayward |
| Year of Construction | 1986 |
| Units | 20 |
| Transaction Date | 2022-08-02 |
| Transaction Price | $5,450,000 |
| Buyer | FLETCHER HEIGHTS LLC |
| Seller | PORTER WILLIAM M |
920 Fletcher Ln, Hayward CA Multifamily Investment
Renter concentration is high in the surrounding neighborhood and occupancy has held solid at the neighborhood level, according to WDSuite’s CRE market data, supporting stable demand for smaller-unit product types. Elevated ownership costs in Alameda County further sustain renter reliance on multifamily housing.
Situated in Hayward’s Urban Core within the Oakland–Berkeley–Livermore metro, the property benefits from neighborhood-level occupancy near the mid‑90s and a high share of renter-occupied housing units (62.4%). For investors, this indicates a deep tenant base and supports leasing durability across cycles rather than dependence on a narrow demand segment.
Local amenities are mixed: grocery access is comparatively strong (competitive nationally), and parks are a relative strength, while cafes, childcare, and pharmacies are thinner in immediate proximity. School ratings sit near the national middle, suggesting family-oriented demand may be steady but not a primary differentiator.
Home values in the neighborhood and broader Alameda County are elevated versus national norms, and the metro’s value-to-income dynamics are high. In investment terms, a high-cost ownership market tends to reinforce rental demand and can support lease retention, though residents may experience affordability pressure; rent-to-income ratios should be monitored for pricing power and renewal strategy.
Within a 3-mile radius, demographics point to a broad working-age population and modest population growth ahead, with households projected to increase and average household size edging slightly lower. This pattern typically expands the renter pool and supports occupancy stability for smaller footprints like the property’s average unit size.
The asset’s 1986 vintage is newer than the neighborhood’s average construction year. That positioning can be competitively favorable versus older stock, while still warranting targeted capital planning for systems modernization or value-add interior updates to capture rent premiums.
Safety trends should be viewed in context. At the neighborhood level, crime sits in the lower half of the 469 Oakland–Berkeley–Livermore neighborhoods, indicating conditions that trail the metro median. Compared with neighborhoods nationwide, safety ranks below average; however, recent year-over-year estimates indicate double‑digit declines in both violent and property offenses, a constructive directional signal to monitor rather than a completed shift.
Investors should underwrite prudent security measures and property operations, while tracking ongoing trend improvements and any citywide initiatives that could further influence neighborhood safety over the hold period.
The location serves a broad employment base that supports renter demand through commute convenience to logistics, industrial equipment, energy, consumer products, and retail headquarters noted below.
- Ryder — logistics (2.9 miles)
- Caterpillar — equipment manufacturing (3.5 miles)
- Chevron — energy (9.0 miles) — HQ
- The Clorox Company — consumer goods (9.6 miles)
- Ross Stores — off-price retail (10.7 miles) — HQ
This 20‑unit, 1986‑built asset aligns with a neighborhood characterized by solid occupancy and a high share of renter‑occupied housing units, supporting steady multifamily demand. Elevated ownership costs in Alameda County and the neighborhood’s rent positioning versus national norms point to durable renter reliance, while smaller average unit sizes can match price‑sensitive segments where lease retention depends on careful rent-to-income management. According to commercial real estate analysis from WDSuite, these factors compare favorably to national averages for demand depth, though local affordability pressure should be part of revenue planning.
Forward-looking 3‑mile demographics indicate modest population growth, a projected increase in households, and rising incomes—signals that typically support occupancy stability and potential value‑add execution. The property’s later vintage relative to area averages can be a competitive edge versus older stock, provided investors budget for systems updates and targeted renovations to sustain positioning.
- High neighborhood renter concentration supports a deep tenant base and leasing stability.
- Elevated ownership costs reinforce rental demand and can aid retention.
- 1986 vintage offers competitive positioning versus older area stock with value‑add potential.
- 3‑mile projections of rising households and incomes support occupancy and rent-growth potential.
- Risks: below‑average safety metrics and affordability pressure require disciplined operations and rent management.