| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 66th | Fair |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 285 Lee St, Oakland, CA, 94610, US |
| Region / Metro | Oakland |
| Year of Construction | 1990 |
| Units | 27 |
| Transaction Date | 2014-10-21 |
| Transaction Price | $6,150,000 |
| Buyer | 285 LEE ST LLC |
| Seller | RPI LEE ASSOCIATES LIMITED PARTNERSHIP |
285 Lee St, Oakland Multifamily Investment Opportunity
Amenity-rich urban core location with a deep renter base supports durable leasing potential, according to WDSuite’s CRE market data, even as submarket conditions remain mixed.
Located in Oakland’s Urban Core, the neighborhood around 285 Lee St is rated B+ and is competitive among Oakland-Berkeley-Livermore neighborhoods (ranked 150 of 469), offering investors a balanced mix of demand drivers and operational considerations. Amenity access is a clear strength: cafes, groceries, parks, and restaurants sit near the top quartile nationally, while on-site access to childcare and pharmacies is limited at the neighborhood level—factors to consider for resident convenience and marketing.
The share of housing units that are renter-occupied is high at the neighborhood level, indicating a deep tenant base that can support multifamily demand and retention. Median asking rents benchmark in the upper national percentiles, while rent-to-income trends suggest measured affordability pressure relative to peer urban cores—conditions that favor thoughtful pricing strategies and renewal management.
Within a 3-mile radius, recent years show modest population growth and a larger increase in households, with forward projections pointing to continued household expansion and smaller average household sizes. This pattern typically broadens the renter pool and supports occupancy stability, based on CRE market data from WDSuite.
Built in 1990, the asset is newer than the neighborhood s older building stock (average vintage 1959). That positioning can provide a competitive edge on layout and building systems versus pre-1960 assets, while still leaving room for targeted modernization or value-add upgrades to meet current renter expectations.
Safety indicators are mixed in a metro-urban context. Overall crime rates align roughly with national middles, but both property and violent offense rates sit below national percentiles that investors typically prefer. Notably, recent year-over-year trends show sizable declines in both categories, indicating improvement momentum rather than deterioration.
In metro terms, safety varies across the Oakland-Berkeley-Livermore area’s 469 neighborhoods; this location tracks closer to dense urban patterns than suburban comparables. For underwriting, we suggest reflecting current conditions and the improving trendline, rather than assuming either a worst-case or rapid normalization.
Proximity to established corporate employers supports a stable renter base seeking commute convenience and professional services. Key anchors within typical commuting distance include Clorox, Gap, Charles Schwab, Salesforce, PG&E, and Wells Fargo.
- Clorox — consumer products HQ (1.0 miles) — HQ
- Gap — apparel HQ (7.5 miles) — HQ
- Aig — insurance (7.5 miles)
- Charles Schwab — financial services (7.6 miles) — HQ
- Salesforce.com — software HQ (7.7 miles) — HQ
- PG&E Corp. — utilities HQ (7.7 miles) — HQ
- Ameriprise Financial — financial services (7.9 miles)
- Pfizer — life sciences (7.9 miles)
- Wells Fargo — banking HQ (8.1 miles) — HQ
This 27-unit community balances urban-core renter depth with strong amenity access. According to CRE market data from WDSuite, the neighborhood s renter concentration and high-cost ownership landscape reinforce multifamily reliance, while recent household growth within a 3-mile radius expands the tenant base. The asset s 1990 vintage compares favorably to nearby pre-1960 stock, suggesting competitive positioning with selective capital to modernize interiors and common areas.
Operating conditions warrant disciplined underwriting: neighborhood occupancy has softened relative to prior years, and safety metrics—while improving—remain a consideration for leasing strategy and security investments. Still, proximity to major employers and sustained demand for professionally managed rentals in Oakland s core underpin longer-term cash flow durability.
- Deep renter base in an urban-core setting supports tenant demand and renewal potential.
- Newer 1990 vintage versus neighborhood average enables competitive positioning with targeted upgrades.
- High-cost ownership market reinforces reliance on multifamily rentals and pricing power over time.
- Strong access to jobs and amenities aids leasing velocity for working professionals.
- Risks: softer neighborhood occupancy and mixed safety metrics call for conservative lease-up and security planning.