| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 80th | Best |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6015 Martin Luther King Jr Way, Oakland, CA, 94609, US |
| Region / Metro | Oakland |
| Year of Construction | 1976 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6015 Martin Luther King Jr Way, Oakland — 24-Unit Multifamily Position
Neighborhood fundamentals point to durable renter demand supported by a high-cost ownership market and an above-average renter base, according to WDSuite’s CRE market data. Focus is on occupancy stability and retention rather than outsized rent growth.
This Urban Core pocket of Oakland scores A- among 469 metro neighborhoods (ranked 90), indicating competitive livability and investment appeal relative to the region. Dense amenities are a defining feature: cafes (ranked 13 of 469) and grocery options (ranked 21 of 469) place the area among the top quartile locally and around the 99th percentile nationally for food-and-beverage access, supporting walkability and resident convenience.
At the neighborhood level, occupancy is 91.8% with a modest five-year softening, suggesting the market rewards disciplined leasing and asset management. The share of housing units that are renter-occupied is 57.2% (above most metro peers), signaling depth in the tenant base and steady multifamily demand. Median contract rents in the neighborhood sit near the upper end regionally, while the rent-to-income ratio of 0.21 (lower national percentile) points to comparatively manageable rent burdens that can aid lease retention.
Within a 3-mile radius, WDSuite data shows population growth of roughly 4% over the past five years and households up about 5%, with projections for further gains. This implies an expanding renter pool and broader demand tailwinds for professionally managed units. Elevated neighborhood home values (median near $1.1M; top-tier nationally) and a high value-to-income ratio indicate a high-cost ownership market, which tends to sustain reliance on rental housing and can support pricing power when paired with effective lease management.
The property was built in 1976, newer than the neighborhood’s older average vintage (mid-1940s). That relative youth can be a competitive advantage versus prewar stock; however, investors should plan for aging systems and targeted renovations to maintain positioning and capture value-add upside where feasible.
Safety indicators for the neighborhood are around the national middle, according to WDSuite. Recent trends show notable year-over-year declines in both property and violent offenses, an encouraging directional signal. Conditions can vary by block and over time, so investors typically underwrite with attention to lighting, access control, and property management practices rather than relying solely on citywide averages.
Proximity to major Bay Area employers underpins renter demand and commute convenience, with access to corporate offices concentrated in Oakland and San Francisco’s core. The nearby base includes Clorox, Gap, AIG, Salesforce, and Charles Schwab.
- Clorox — corporate offices (2.9 miles) — HQ
- Gap — corporate offices (7.6 miles) — HQ
- Aig — corporate offices (7.6 miles)
- Salesforce.com — corporate offices (7.6 miles) — HQ
- Charles Schwab — corporate offices (7.7 miles) — HQ
6015 Martin Luther King Jr Way offers a 24-unit, 1976-vintage footprint in an A- rated Urban Core neighborhood where renter concentration and high-cost ownership dynamics support sustained multifamily demand. Based on commercial real estate analysis from WDSuite, neighborhood occupancy is stable near the regional middle, and rent burdens trend comparatively manageable, favoring retention and steady cash flows when paired with disciplined operations.
Amenity density ranks among the metro’s top quartile and the national 90th-plus percentiles for everyday essentials, while 3-mile population and household growth expand the prospective tenant base. The 1976 vintage is newer than much of the surrounding stock, providing a competitive edge versus older assets, with targeted capex and modernization presenting value-add pathways.
- Durable renter demand: ~57% renter-occupied neighborhood housing supports depth of tenant base.
- Ownership costs are elevated, reinforcing reliance on rentals and supporting pricing power with prudent lease management.
- Amenity-rich location: top-quartile metro rankings for cafes and groceries aid retention and leasing velocity.
- 1976 construction: competitive versus older local stock; plan selective system upgrades for long-term performance.
- Risks: neighborhood occupancy has softened modestly and safety varies by micro-location; underwrite operational discipline and security measures.