| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 65th | Fair |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2507 Portola Ave, Livermore, CA, 94551, US |
| Region / Metro | Livermore |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | 1995-04-07 |
| Transaction Price | $1,235,000 |
| Buyer | ERLICH STEVEN J |
| Seller | CHOU KEVIN M |
2507 Portola Ave Livermore Multifamily Investment
This 20-unit property built in 1973 sits in a suburban neighborhood ranking in the top quartile among 469 Oakland-Berkeley-Livermore metro neighborhoods, with commercial real estate analysis from WDSuite indicating strong occupancy rates at 95.1%.
The Livermore neighborhood demonstrates solid fundamentals for multifamily investors, ranking 47th among 469 metro neighborhoods with an A rating. Built in 1973, this property represents older vintage housing that may present value-add renovation opportunities compared to the neighborhood's average construction year of 1996.
Renter-occupied units comprise 40.9% of local housing stock, ranking in the 81st national percentile and indicating substantial rental demand. Median contract rents of $2,060 have grown 32.9% over five years, while neighborhood occupancy remains stable at 95.1%. The area's median household income of $119,705 supports rental affordability, though investors should monitor the rent-to-income ratio dynamics.
Demographics within a 3-mile radius show 65,381 residents with a median household income of $147,808. Home values averaging $1.1 million sustain rental demand by limiting ownership accessibility for many households. The area maintains strong amenity density with restaurants, childcare facilities, and parks supporting tenant retention, while school ratings average 3.0 out of 5.
Population projections indicate modest decline through 2028, though household formation trends suggest rental demand stability. The suburban character and proximity to employment centers support the investment case for patient capital focused on cash flow and selective improvements.
Safety metrics present mixed signals requiring careful evaluation. Property crime rates estimated at 2,737 per 100,000 residents rank in the bottom quartile nationally (7th percentile), indicating elevated property crime compared to other neighborhoods nationwide. However, recent trends show improvement with property crime declining 19.1% year-over-year.
Violent crime rates are more favorable at 102 incidents per 100,000 residents, ranking in the 31st percentile nationally. Violent crime has decreased significantly by 33.7% over the past year, suggesting improving security conditions. Investors should factor these crime dynamics into tenant screening, property management protocols, and insurance considerations while monitoring ongoing trend improvements.
The property benefits from proximity to major corporate employers within the East Bay corridor, providing workforce housing opportunities for professional tenants seeking convenient commutes.
- Ross Stores — retail corporate offices (6.8 miles) — HQ
- The Clorox Company — consumer products (7.6 miles)
- Chevron — energy corporate offices (11.4 miles) — HQ
- Lam Research Corporation — semiconductor equipment (16.9 miles)
- Thermo Fisher Scientific — life sciences (17.0 miles)
This 1973-vintage property offers value-add potential in a stable suburban market with established rental demand fundamentals. The neighborhood's 95.1% occupancy rate and 32.9% five-year rent growth demonstrate consistent performance, while the older construction year relative to area averages suggests renovation upside for investors comfortable with capital improvements. Multifamily property research indicates the area's high home values and strong employment base support sustained rental demand from households priced out of ownership.
Demographics within 3 miles show affluent households with median incomes of $147,808, though modest population decline projections require attention to absorption and lease-up timelines. The property's location near major employers including Ross Stores and Chevron provides workforce housing appeal, while the suburban setting offers stability for long-term hold strategies focused on cash flow and selective improvements.
- Neighborhood occupancy at 95.1% demonstrates rental market stability
- Five-year rent growth of 32.9% indicates pricing power potential
- Value-add opportunity from 1973 construction versus newer neighborhood average
- High home values support rental demand from ownership-priced households
- Risk: Population decline projections may impact long-term absorption rates