| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Poor |
| Demographics | 58th | Fair |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 530 24th St, Oakland, CA, 94612, US |
| Region / Metro | Oakland |
| Year of Construction | 1990 |
| Units | 37 |
| Transaction Date | 2013-04-25 |
| Transaction Price | $3,975,000 |
| Buyer | 530 24TH STREET LLC |
| Seller | KASSIS GHATTAS ELIAS |
530 24th St, Oakland Multifamily Investment
Urban-core setting with strong renter concentration and amenity access suggests resilient tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy figures reference the surrounding area, not this property, and point to lease-up and retention strategy as a key value driver.
Situated in Oakland’s Urban Core, the property benefits from top-tier amenity density: restaurants and groceries rank in the upper national percentiles, and overall neighborhood performance places it competitive among Oakland-Berkeley-Livermore neighborhoods (rank 86 of 469, top quartile). This concentration of daily needs and dining supports renter appeal and reduces friction for urban lifestyles.
The neighborhood’s housing stock skews older (average construction year 1938). With a 1990 vintage, the asset is newer than much of the local inventory, positioning it competitively versus prewar and mid-century product while leaving room for modernization of interiors and systems to drive rent premiums and reduce near-term capex surprises through targeted upgrades.
Renter-occupied housing units account for a high share locally (about two-thirds; above metro median and 95th percentile nationally), indicating a deep tenant base that can support multifamily absorption. Neighborhood occupancy runs below the metro median, underscoring the importance of asset-level management, renovation, and pricing strategy to capture demand and sustain stability.
Within a 3-mile radius, population and households have grown in recent years, with forecasts indicating further population growth and a notable increase in household counts alongside smaller household sizes. For investors, this points to a larger tenant base and more one- to two-person renter households entering the market, which can support leasing velocity for well-positioned units.
Ownership costs are elevated (home values and value-to-income ratios rank high nationally), reinforcing reliance on multifamily housing and supporting pricing power for quality rentals. Median rents and rent-to-income levels suggest a market where affordability pressure must be managed, but still allow for retention through thoughtful renewals and unit mix optimization.
Relative to the metro, the neighborhood’s safety ranking sits below average (rank 277 of 469), and national comparisons indicate elevated crime exposure. Recent year-over-year trends show meaningful declines in both violent and property offense estimates, suggesting improvement, but investors should still underwrite with conservative assumptions and consider security, lighting, and access controls as part of property operations.
Proximity to established corporate employers supports weekday activity and a diverse renter pipeline, with convenient commutes to headquarters and major offices including Clorox, Gap, AIG, Charles Schwab, and Salesforce.
- Clorox — consumer products HQ (0.7 miles) — HQ
- Gap — apparel retail HQ (6.9 miles) — HQ
- AIG — insurance offices (6.9 miles)
- Charles Schwab — financial services HQ (6.9 miles) — HQ
- Salesforce.com — software HQ (7.0 miles) — HQ
This 1990-vintage, 37-unit asset sits in an amenity-rich Urban Core location where renter concentration is high and homeownership costs remain elevated—conditions that generally support a durable tenant base and pricing power for renovated product. According to CRE market data from WDSuite, the neighborhood ranks in the top quartile locally for overall performance and in high national percentiles for restaurants and groceries, reinforcing day-to-day convenience as a leasing advantage.
Neighborhood occupancy trails the metro median, and school ratings are weaker, but 3-mile population and household growth—paired with forecasts for further renter pool expansion—provide a path for well-executed value-add. Being newer than much of the surrounding housing stock, the property can capture demand through targeted interior updates, energy-efficient systems, and modern amenities aimed at retention and renewal lift.
- Urban-core location with top-tier restaurant and grocery access supports leasing velocity
- High renter-occupied share indicates depth of tenant demand for multifamily
- 1990 vintage offers competitive positioning versus older stock with clear renovation upside
- 3-mile population and household growth point to a larger renter base over the outlook
- Risks: neighborhood occupancy below metro median and safety metrics below national averages call for prudent underwriting and active management