| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 60th | Fair |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 901 Jefferson St, Oakland, CA, 94607, US |
| Region / Metro | Oakland |
| Year of Construction | 2008 |
| Units | 75 |
| Transaction Date | 2014-12-22 |
| Transaction Price | $24,700,000 |
| Buyer | Berkshire Group |
| Seller | Madison Park Financial Corporation |
901 Jefferson St Oakland Multifamily Investment
This 75-unit property built in 2008 sits in an urban core neighborhood ranked in the top 10% nationally for amenities and NOI per unit, with a renter-occupied housing base exceeding 72% and median household incomes near $93,000 according to CRE market data from WDSuite.
Located in Oakland's urban core, this neighborhood ranks 45th among 469 metro neighborhoods with an overall A rating. The area demonstrates exceptional amenity density—top 1% nationally for restaurants (89 per square mile), cafes (8.5 per square mile), and grocery stores (10 per square mile)—supporting strong tenant appeal in a high-density renter market. Parks and childcare facilities also rank in the top national deciles, reinforcing livability for a diverse tenant base.
Demographic statistics aggregated within a 3-mile radius show a population of nearly 199,000 with modest recent growth of 3.8% over five years. Forecast data through 2028 projects population growth of 11.9% and household expansion of 41.1%, substantially broadening the renter pool. Median household income within the radius stands at $108,343, having grown 60.3% over five years, and is projected to reach $140,653 by 2028—a 29.8% increase that supports pricing power and lease retention. The renter-occupied share of housing units in the neighborhood is 72.2%, ranking in the 98th percentile nationally, reflecting deep structural demand for multifamily housing.
Neighborhood-level occupancy stands at 88.5%, ranking below the metro median yet stabilizing after a modest five-year decline. Median contract rent in the neighborhood is $1,612, ranking in the 82nd percentile nationally and up 86% over five years, indicating sustained pricing momentum. Within the 3-mile radius, median contract rent is $1,989, having increased 54.8% over the past five years, with a forecast rise to $2,530 by 2028—a 27.2% gain. These trends underscore continued rental demand driven by elevated home values (median $767,573 in the neighborhood, 94th percentile nationally) that sustain reliance on rental housing and limit ownership accessibility for most households.
The property's 2008 construction year is notably newer than the neighborhood average of 1968, positioning the asset competitively with reduced near-term capital expenditure needs relative to older stock. Average NOI per unit in the neighborhood ranks in the 98th percentile nationally at $20,317, reflecting strong operational performance. Investors should monitor occupancy trends closely, as the neighborhood's rank of 449 out of 469 for occupancy rate signals the need for proactive lease management and tenant retention strategies in a competitive urban market.
The neighborhood's crime profile reflects its urban core character. Property offense rates stand at approximately 4,582 incidents per 100,000 residents, ranking 435th among 469 metro neighborhoods (3rd percentile nationally). Violent offense rates are estimated at 1,315 per 100,000 residents, ranking 451st in the metro (3rd percentile nationally). These elevated absolute levels are typical of dense urban submarkets and should be contextualized alongside neighborhood amenities and economic fundamentals.
Year-over-year trends show meaningful improvement: property offenses declined 72.5%, ranking in the 96th percentile nationally for improvement, while violent offenses fell 48.8%, placing in the 85th percentile for positive trajectory. These declines suggest stabilizing conditions and may support tenant confidence over time. Investors should weigh these improving trends against the current elevated baseline, emphasizing lease terms, property management protocols, and tenant screening as risk mitigation tools in this high-density environment.
The property benefits from proximity to a diversified mix of corporate headquarters and major offices that anchor the regional employment base and support workforce housing demand. Key employers within a short commute include Clorox, Gap, Charles Schwab, Salesforce, PG&E, and Wells Fargo.
- Clorox — consumer goods (0.3 miles) — HQ
- Gap — retail corporate offices (6.3 miles) — HQ
- Aig — financial services (6.4 miles)
- Charles Schwab — financial services (6.4 miles) — HQ
- Salesforce.com — technology (6.5 miles) — HQ
This 75-unit multifamily asset presents a compelling investment opportunity anchored by strong neighborhood fundamentals and favorable demographic trends. The property's 2008 construction provides a competitive advantage in a market where the average building dates to 1968, reducing near-term capital requirements while supporting tenant appeal through modern design and systems.
The neighborhood ranks in the top 10% nationally for amenities and NOI per unit performance ($20,317 average, 98th percentile nationally), signaling robust income generation potential in a high-density urban core. With renter-occupied housing at 72.2% (98th percentile nationally), the submarket demonstrates deep structural demand for rental product. Median household income within the 3-mile radius stands at $108,343 and is forecast to grow 29.8% to $140,653 by 2028, supporting rent growth and tenant quality.
Rent trends underscore pricing power: neighborhood median contract rent has increased 86% over five years, while 3-mile radius rents have grown 54.8% and are projected to rise an additional 27.2% by 2028. Elevated home values (median $767,573, 94th percentile nationally) reinforce rental dependency by limiting ownership accessibility for most households, sustaining the tenant pool over the long term.
Forecast household growth of 41.1% through 2028 within the 3-mile radius suggests expanding demand, while proximity to major employers—including Clorox headquarters just 0.3 miles away, plus Gap, Charles Schwab, Salesforce, and others within 7 miles—anchors workforce housing demand. Crime trends show meaningful improvement, with property offenses down 72.5% year-over-year (96th percentile nationally for improvement), supporting stabilization narratives.
Investors should note the neighborhood's occupancy rate of 88.5% ranks below metro median, requiring active asset management and tenant retention strategies. However, the combination of superior amenity density, income growth, rent momentum, and newer construction positions this property to capitalize on Oakland's evolving urban core dynamics and capture value through strategic leasing and operational excellence.