| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 65th | Fair |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 37057 Magnolia St, Newark, CA, 94560, US |
| Region / Metro | Newark |
| Year of Construction | 1988 |
| Units | 96 |
| Transaction Date | 1998-03-29 |
| Transaction Price | $3,120,500 |
| Buyer | ALDERWOOD PARK LLC |
| Seller | PEARCE PAUL G |
37057 Magnolia St, Newark CA Multifamily Investment
Stabilized renter demand and strong local incomes support durable performance near Silicon Valley, according to WDSuite s CRE market data.
Newark s Urban Core location offers daily convenience with grocery, parks, and dining density that is competitive among Oakland-Berkeley-Livermore neighborhoods (ranked 145 of 469). Nationally, the neighborhood sits in the upper percentiles for amenities groceries and parks are in the mid-90s percentiles, restaurants in the mid-90s, and cafes around the 90th percentile which supports resident retention and leasing velocity.
Neighborhood multifamily occupancy is around 95%, indicating stable operations at the sub-neighborhood level; this is a neighborhood metric, not property-specific. Schools average roughly 4.0 out of 5 and sit well above national norms (mid-80s percentile), a factor that can bolster longer tenures for family renters. The area s renter-occupied share is near half of housing units at the neighborhood level, signaling depth in the tenant base, while within a 3-mile radius renters account for roughly one-third of units together suggesting diverse demand across unit types.
Home values in the neighborhood are elevated relative to national benchmarks, which tends to keep multifamily housing as a relied-upon option for many households. With a rent-to-income ratio near one-fifth at the neighborhood level, pricing power exists but should be balanced with lease management to mitigate affordability pressure and turnover risk.
Demographic statistics within a 3-mile radius show a modest increase in households recently and projections for further household growth alongside smaller average household sizes over the next several years. This points to a larger renter pool over time and supports occupancy stability for well-located assets.
Built in 1988, the property is newer than the neighborhood s average vintage (late 1970s). That positioning can enhance competitiveness versus older stock, though investors should plan for modernization of common areas and systems to meet current renter expectations and sustain performance.
Safety indicators for the neighborhood track below the national median overall (national percentiles in the high-30s). Within the Oakland-Berkeley-Livermore metro, this places the area below the metro median compared with 469 neighborhoods. Recent trends show a slight improvement in violent incidents and a small uptick in property incidents year over year, suggesting conditions are mixed but not deteriorating sharply.
Investors should underwrite with prudent assumptions emphasizing lighting, access control, and partnership with professional management and monitor neighborhood trend lines over the hold period rather than relying on block-level conclusions.
The location taps a broad South Bay employment base that supports weekday occupancy and renewals, anchored by advanced manufacturing and semiconductor employers including Sanmina, Synnex, and Lam Research facilities within a 3 5 mile band.
- Sanmina Corporation electronics manufacturing (3.5 miles)
- Synnex technology distribution (3.8 miles) HQ
- Lam Research CA9 semiconductor equipment (5.0 miles)
- Lam Research semiconductor equipment (5.1 miles) HQ
- Lam Research Corporation CA8 semiconductor equipment (5.3 miles)
37057 Magnolia St is a 96-unit 1988 vintage asset positioned in a Newark neighborhood with amenity density and school quality that outperform national norms. Neighborhood multifamily occupancy is around the mid-90% range, and elevated home values locally tend to sustain renter reliance on apartments. Based on CRE market data from WDSuite, renter concentration at the neighborhood level is near half of housing units, supporting depth of demand across unit types.
Within a 3-mile radius, households have been increasing and are projected to continue expanding even as average household sizes trend smaller a setup that typically enlarges the renter pool and supports leasing stability. The 1988 construction is newer than the neighborhood average, offering relative competitiveness versus older stock; targeted updates to interiors and building systems can create value-add potential while maintaining operational efficiency.
- Occupancy stability supported by neighborhood-level rates around the mid-90% range
- High-cost ownership market reinforces multifamily demand and pricing power
- Growing household counts and smaller household sizes expand the renter pool (3-mile radius)
- 1988 vintage competitive versus older stock; scope for selective renovations and system upgrades
- Risk: Safety metrics sit below national median; prudent security and management practices are important