| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 83rd | Best |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1448 Madison St, Oakland, CA, 94612, US |
| Region / Metro | Oakland |
| Year of Construction | 1988 |
| Units | 40 |
| Transaction Date | 2004-07-09 |
| Transaction Price | $4,700,000 |
| Buyer | LIU MARY |
| Seller | LAKE PARK TERRACE PARTNERS |
1448 Madison St Oakland Multifamily Investment
This 40-unit property benefits from strong neighborhood-level rental demand with 74.7% of housing units renter-occupied and net operating income averaging $16,702 per unit, ranking in the top quartile among 469 metro neighborhoods according to CRE market data from WDSuite.
Located in Oakland's Urban Core, this neighborhood ranks in the top quartile nationally for rental housing concentration, with 74.7% of housing units renter-occupied compared to metro averages. The area demonstrates solid fundamentals for multifamily investors, earning an A rating among 469 Oakland-Berkeley-Livermore neighborhoods and ranking 66th overall for investment attractiveness.
Built in 1988, this property aligns with the neighborhood's average construction year of 1962, positioning it as relatively newer stock that may require fewer immediate capital improvements compared to older neighborhood inventory. Demographics within a 3-mile radius show a stable tenant base, with median household income of $111,148 and 28.5% of the population aged 18-34, supporting consistent rental demand.
The neighborhood offers strong amenity density that supports tenant retention, ranking 1st metro-wide for park access with 13.13 parks per square mile and 99th percentile nationally for restaurant density. Grocery access ranks in the 96th percentile nationally, while childcare facilities rank 99th percentile, appealing to family renters. Current median contract rent of $1,970 has grown 32% over five years, though rent-to-income ratios suggest some affordability pressure that may impact renewal rates.
Occupancy trends show neighborhood-level rates at 89.0%, though this has declined 6.1 percentage points over five years, ranking in the 40th percentile nationally. This suggests increased supply or market softening that investors should monitor for lease-up velocity and concession requirements. The high concentration of rental housing provides depth in the tenant pool but also indicates competitive leasing conditions.
Safety metrics show mixed signals that require careful evaluation. The neighborhood ranks 231st among 469 metro neighborhoods for overall crime, placing it near the median. Property crime rates rank in the bottom 5th percentile nationally, indicating elevated property offense levels that could impact insurance costs and tenant retention.
However, crime trends show meaningful improvement, with property offenses declining 69.4% year-over-year and violent offenses down 59.1%, ranking in the 95th and 89th percentiles respectively for crime reduction. While current levels remain a consideration for property management and tenant screening, the improving trajectory suggests positive momentum that may support longer-term occupancy stability.
The property benefits from proximity to major corporate employers within the Oakland-San Francisco corridor, providing workforce housing opportunities for professionals in diverse industries.
- Clorox — consumer products (0.5 miles) — HQ
- Gap — retail corporate (7.0 miles) — HQ
- AIG — financial services (7.1 miles)
- Charles Schwab — financial services (7.1 miles) — HQ
- Salesforce — technology (7.2 miles) — HQ
This 1988-built property offers value-add potential in a neighborhood with strong rental fundamentals but emerging challenges. The area's 74.7% renter-occupied housing concentration creates depth in the tenant pool, while net operating income averaging $16,702 per unit ranks in the top quartile metro-wide. Demographics within a 3-mile radius support stable demand, with population growth of 3.3% over five years and median household income of $111,148.
However, neighborhood occupancy has declined to 89.0% over five years, and elevated crime levels require active property management strategies. The property's 1988 vintage positions it favorably compared to the neighborhood's 1962 average construction year, potentially reducing near-term capital expenditure needs while offering renovation upside to capture improving market conditions as crime trends continue their downward trajectory.
- Strong rental market fundamentals with 74.7% renter-occupied housing units
- Top-quartile NOI performance at $16,702 per unit average
- Newer vintage (1988) compared to neighborhood average reduces capital needs
- Proximity to major employers including Clorox headquarters
- Risk consideration: Declining occupancy trends and elevated property crime require active management