| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 83rd | Best |
| Amenities | 66th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 468 Perkins St, Oakland, CA, 94610, US |
| Region / Metro | Oakland |
| Year of Construction | 2002 |
| Units | 56 |
| Transaction Date | 2008-01-31 |
| Transaction Price | $14,925,000 |
| Buyer | AgeSong |
| Seller | A F Evans Company |
468 Perkins St Oakland Multifamily Investment
High renter concentration and top-tier amenity access in the neighborhood point to a deep tenant base, according to WDSuite’s CRE market data, even as occupancy trends sit below stronger metro pockets.
This Urban Core neighborhood in Oakland ranks 66 out of 469 metro neighborhoods (A-rated), signaling competitive fundamentals for multifamily investors. Amenity access is a standout: parks rank 1 of 469 (top of the metro) and restaurants rank 23 of 469, both landing in the top quartile nationally. Grocery availability is also strong (rank 71 of 469; top quartile nationally), while café and pharmacy density are thinner and may require residents to travel a bit farther for those services.
Renter-occupied share in the neighborhood is high at 74.7% (98th percentile nationally; rank 11 of 469), indicating a deep pool of renters and support for leasing velocity. Neighborhood occupancy is lower relative to metro peers (rank 445 of 469; 40th percentile nationally), so operators should plan for targeted marketing and renewal strategies to sustain stability. Housing metrics sit above many U.S. neighborhoods (77th percentile nationally), and demographics score in the top quartile (83rd percentile nationally), suggesting demand drivers that can support absorption with the right positioning.
The property’s 2002 construction is newer than the neighborhood’s average vintage of 1962, which can enhance competitive positioning versus older stock. Investors may still consider selective modernization of systems and common areas to meet current renter expectations and support rent growth without overextending capital plans.
Within a 3-mile radius, population and household counts have grown in recent years, with households up 4.8% and further gains projected through 2028 alongside a declining average household size. These dynamics typically expand the renter pool and can support occupancy stability for well-managed assets. Median household income in this 3-mile area is strong, and the neighborhood’s rent-to-income ratio of 0.21 suggests manageable affordability pressure that can aid retention and reduce turnover risk.
Ownership costs are elevated locally (home values in the neighborhood sit in a high national percentile and the value-to-income ratio is in the 96th percentile), which tends to reinforce reliance on multifamily rentals and can support pricing power. Average school ratings are moderate (3.0 out of 5; 61st percentile nationally), which aligns with a renter profile that balances access to amenities and employment with broader regional school options.
Safety metrics in this neighborhood track weaker than many Oakland-Berkeley-Livermore, CA areas, with crime measures positioned in the lower national percentiles. In metro context, several indicators sit in the less competitive half of the 469-neighborhood set. Recent data, however, show meaningful year-over-year declines in both violent and property offenses, indicating improving momentum even if current levels remain elevated versus national norms.
For investors, this mix suggests underwriting that reflects present-day conditions while recognizing the recent downward trend. Asset-level security, lighting, and community engagement can help support resident confidence and retention, particularly given the neighborhood’s strong renter concentration.
Proximity to major employers supports workforce housing demand and commute convenience. Nearby corporate offices include Clorox, Gap, Charles Schwab, Salesforce, PG&E, Pfizer, Ameriprise Financial, and Wells Fargo, which broaden the white-collar tenant base and can aid leasing durability.
- Clorox — consumer products HQ (0.96 miles) — HQ
- Gap — retail apparel HQ (7.5 miles) — HQ
- Aig — insurance (7.6 miles)
- Charles Schwab — financial services HQ (7.6 miles) — HQ
- Salesforce.com — software HQ (7.7 miles) — HQ
- PG&E Corp. — utilities HQ (7.8 miles) — HQ
- Pfizer — pharmaceuticals (7.9 miles)
- Ameriprise Financial — financial services (7.9 miles)
- Wells Fargo — banking HQ (8.1 miles) — HQ
468 Perkins St is a 56-unit, 2002-vintage asset positioned in an A-rated Urban Core neighborhood with top-quartile amenity access (notably parks, restaurants, and groceries) and a deep renter base. According to CRE market data from WDSuite, neighborhood occupancy trends trail stronger metro sub-areas, but the combination of high renter concentration, strong incomes within 3 miles, and ownership costs in the upper national percentiles supports durable multifamily demand and renewal potential.
The 2002 vintage offers relative competitiveness versus older neighborhood stock (average 1962), while allowing for targeted value-add through modernization of interiors and common spaces. Demographic momentum within a 3-mile radius — including projected population and household growth alongside smaller household sizes — points to renter pool expansion that can support occupancy stability with disciplined leasing and operations.
- A-rated neighborhood with top-quartile parks, restaurants, and grocery access supporting renter appeal
- High renter-occupied share signals depth of tenant demand and leasing durability
- 2002 construction offers competitive positioning versus older stock with selective value-add potential
- Within 3 miles, income strength and projected growth support occupancy stability and renewal performance
- Risks: neighborhood safety metrics and below-metro occupancy warrant proactive security, leasing, and renewal strategies