| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 70th | Good |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2451 Santa Rita Rd, Pleasanton, CA, 94566, US |
| Region / Metro | Pleasanton |
| Year of Construction | 1972 |
| Units | 73 |
| Transaction Date | 2016-07-18 |
| Transaction Price | $22,500,000 |
| Buyer | 888 GOLDEN FORTUNE PLEASANTON APARTMENT HOMES |
| Seller | MARYMOUNT RESIDENCES I LLC |
2451 Santa Rita Rd Pleasanton Multifamily Investment
Neighborhood occupancy trends are healthy and above metro norms, supporting stable renter demand for a 73‑unit asset, according to CRE market data from WDSuite.
Pleasanton’s inner-suburban setting offers a livable blend of parks, cafes, and neighborhood services that support retention. Amenity access is competitive among Oakland-Berkeley-Livermore neighborhoods, with dining and cafe density ranking well locally, while grocery and pharmacy options are thinner immediately nearby—an operational consideration for leasing and marketing.
Rents and occupancy in the neighborhood signal durable fundamentals: occupancy is above the metro median among 469 neighborhoods and sits in the top quintile nationally, based on CRE market data from WDSuite. Neighborhood NOI per unit also ranks strongly within the metro peer set, indicating solid income performance relative to operating scale.
Tenure patterns suggest a primarily owner-occupied area with a measured renter-occupied share. For multifamily owners, this points to a stable but selective renter pool and potential for steady lease-up when product quality and pricing align with local expectations.
Within a 3-mile radius, recent growth in households and families has expanded the tenant base, and projections call for additional household gains even as average household size trends lower. This dynamic generally supports occupancy stability and steady demand for well-managed units. Elevated home values in the neighborhood, which rank near the top nationally, reinforce reliance on rental housing and can support pricing power when balanced against income levels and resident affordability.
Safety compares favorably in the regional context. The neighborhood is in the top quartile for lower crime among 469 Oakland-Berkeley-Livermore neighborhoods, and national percentiles indicate performance above the U.S. median. Recent year-over-year declines in both property and violent offense rates further support a stable operating backdrop. As always, conditions can vary block to block, so underwriting should focus on submarket trends rather than isolated incidents.
Proximity to regional employers supports commuter convenience and a diversified renter base, with nearby corporate offices spanning consumer goods, retail, energy, and advanced manufacturing.
- The Clorox Company — consumer goods offices (1.8 miles)
- Ross Stores — retail corporate offices (2.0 miles) — HQ
- Chevron — energy corporate offices (6.9 miles) — HQ
- Sanmina Corporation — electronics manufacturing offices (13.4 miles)
- Caterpillar — industrial equipment offices (13.8 miles)
This Pleasanton asset benefits from strong neighborhood fundamentals: occupancy trends are above the metro median and competitive nationally, and high home values locally sustain renter reliance on multifamily housing. Household growth within a 3-mile radius has expanded the renter pool, and projections for further household increases—alongside smaller average household sizes—support ongoing demand and lease stability. According to CRE market data from WDSuite, income performance and rent metrics in the neighborhood compare favorably to peers, which can underpin pricing power when paired with disciplined operations.
Key considerations include a more owner-leaning tenure mix that can make leasing competitive at certain price points, and thinner immediate grocery/pharmacy coverage that may influence convenience perceptions. For a professionally managed, mid-size community, these dynamics still point to durable occupancy with potential for incremental revenue through targeted upgrades and amenity positioning.
- Above-metro occupancy and competitive national standing support stable cash flow
- High home values reinforce renter dependence, aiding pricing power
- 3-mile household growth and projected gains expand the tenant base
- Diverse nearby employers bolster commuter demand
- Risks: owner-leaning tenure and limited immediate groceries/pharmacies may affect leasing velocity