| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 24th | Poor |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1537 165th Ave, San Leandro, CA, 94578, US |
| Region / Metro | San Leandro |
| Year of Construction | 1984 |
| Units | 42 |
| Transaction Date | 2024-01-03 |
| Transaction Price | $9,985,000 |
| Buyer | RAJNEESH SALWAN SEPARATE PROPERTY TRUST |
| Seller | BRIGHT W E JACK |
1537 165th Ave, San Leandro Multifamily Investment
Neighborhood-level renter concentration and steady occupancy suggest durable tenant demand, according to WDSuite’s CRE market data. These are neighborhood statistics, not property performance, and they point to leasing resilience for a 42-unit asset in this East Bay location.
The Urban Core neighborhood around 1537 165th Ave benefits from strong daily-needs access. Grocery options rank among the highest in the metro (ranked against 469 Oakland–Berkeley–Livermore neighborhoods) and sit in the top decile nationally, while restaurants and cafes are also well-represented. Childcare availability is comparatively robust. Park and pharmacy density is limited within the immediate area, which may modestly affect lifestyle appeal but does not detract from daily convenience.
Home values in the area are elevated relative to most U.S. neighborhoods, which tends to support sustained reliance on multifamily rentals and can aid lease retention. Median contract rents at the neighborhood level sit above national norms, yet the market has demonstrated depth for renters, helping maintain occupancy that is above the national median, based on CRE market data from WDSuite.
The neighborhood skews renter-occupied, with a high renter concentration that implies a deep tenant base for multifamily units and supports occupancy stability. The property’s 1984 vintage is newer than the neighborhood’s average construction year (1974), suggesting relative competitiveness versus older stock; investors should still plan for system updates typical of assets from the 1980s when considering value-add or modernization.
Within a 3-mile radius, demographics show modest population growth historically with forecasts pointing to further household expansion and rising incomes, which can expand the renter pool and support rent levels. These neighborhood and 3-mile radius dynamics, not the property’s own metrics, indicate demand drivers that are competitive among Oakland–Berkeley–Livermore neighborhoods.
Safety trends are mixed in this part of the Oakland–Berkeley–Livermore metro. Neighborhood crime measures track below national safety norms, placing the area behind many U.S. neighborhoods; however, recent data shows property offenses declining at a faster rate than many peers, indicating improving momentum. Rankings referenced are measured against 469 metro neighborhoods, and national comparisons reflect percentile standing versus neighborhoods nationwide.
For underwriting, this suggests incorporating prudent security measures and loss assumptions while recognizing the improving trajectory in property crime. Framing safety in regional context can aid leasing and retention strategies without overrelying on block-level conclusions.
The local employment base mixes logistics, industrial, energy, retail headquarters, life sciences, and technology—supporting commuter convenience and a broad renter pool for workforce and professional tenants. The employers below reflect the primary nearby drivers likely to influence leasing stability.
- Ryder — logistics (3.1 miles)
- Caterpillar — industrial equipment offices (4.7 miles)
- Chevron — energy (9.3 miles) — HQ
- The Clorox Company — consumer products (11.1 miles)
- Clorox — consumer products (11.6 miles) — HQ
- Ross Stores — retail (12.1 miles) — HQ
- Gilead Sciences — life sciences (12.9 miles) — HQ
- Visa — payments technology (13.1 miles) — HQ
- Oracle Conference Center — technology/events (14.1 miles)
- Oracle — enterprise software (14.1 miles) — HQ
1537 165th Ave offers 42 units averaging roughly 770 square feet in a renter-heavy East Bay neighborhood where elevated ownership costs reinforce reliance on multifamily housing. Neighborhood occupancy trends sit above national norms with a high share of renter-occupied housing units, supporting demand durability and lease-up confidence. According to CRE market data from WDSuite, the area’s amenity access is strong for groceries, dining, and cafes, which can aid retention even as parks and pharmacies are less dense nearby.
Built in 1984, the asset is newer than the local average vintage, positioning it competitively versus older stock while still warranting targeted capital for 1980s systems and potential value-add upgrades. Within a 3-mile radius, population and income trajectories are constructive and forecasts indicate more households and higher incomes, which can broaden the renter pool and support rent levels; investors should balance this with prudent affordability and safety assumptions in underwriting.
- Renter-heavy neighborhood and above-national occupancy support demand stability
- Elevated ownership costs point to sustained reliance on rentals and pricing power
- 1984 vintage offers competitive positioning with targeted value-add potential
- Strong daily-needs access (groceries, dining, cafes) aids tenant retention
- Risks: below-national safety standing and rent-to-income pressure warrant conservative underwriting