| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 67th | Fair |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1812 Washington Ave, San Leandro, CA, 94577, US |
| Region / Metro | San Leandro |
| Year of Construction | 1972 |
| Units | 62 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1812 Washington Ave San Leandro Multifamily Investment
This 62-unit property built in 1972 sits in a neighborhood with strong occupancy rates at 93.3% and high rental tenure at 61.9%, according to CRE market data from WDSuite.
San Leandro's multifamily market demonstrates solid fundamentals with neighborhood-level occupancy at 93.3% and a substantial rental housing base where 61.9% of units are renter-occupied. The area ranks in the top quartile nationally for amenity access, with exceptional grocery store density at 12.38 per square mile and robust restaurant concentration at 58.81 per square mile, supporting tenant retention through walkable convenience.
Demographics within a 3-mile radius show a population of approximately 156,500 with median household income of $97,697. The area attracts working professionals, with 24.5% of residents aged 18-34 and another 40.8% in the prime earning years of 35-64. Projected household income growth of 34.8% through 2028 suggests strengthening renter purchasing power, while forecast rent increases of 37.5% indicate robust rental demand dynamics.
The 1972 construction year aligns closely with the neighborhood average of 1968, presenting potential value-add opportunities through selective unit upgrades and common area improvements. With median contract rents at $1,998 ranking in the 92nd percentile nationally, the market supports premium positioning while maintaining broad affordability relative to area incomes.
Home values averaging $589,583 create elevated ownership costs that reinforce rental demand, keeping households in the multifamily market longer and supporting lease renewal rates. The rent-to-income ratio of 0.25 indicates manageable affordability for area renters, reducing turnover risk while supporting occupancy stability.
Safety metrics show mixed trends with property crime rates declining significantly by 79.7% year-over-year, ranking in the 98th percentile nationally for crime reduction. Violent crime also decreased 64.8% annually, placing the neighborhood in the 92nd percentile for improvement trends among all U.S. neighborhoods.
Current crime levels remain elevated relative to the Oakland-Berkeley-Livermore metro, with the neighborhood ranking 315th of 469 metro neighborhoods for property crime and 313th for violent crime. However, the substantial year-over-year reductions suggest improving conditions that could support resident retention and attract quality tenants over time.
The East Bay location provides access to major corporate employers within commuting distance, supporting workforce housing demand from professional tenants.
- Ryder — logistics and transportation (4.8 miles)
- Caterpillar — industrial equipment (6.6 miles)
- Clorox — consumer products (8.7 miles) — HQ
- Chevron — energy and petroleum (10.9 miles) — HQ
- Gilead Sciences — biotechnology (12.7 miles) — HQ
This 62-unit San Leandro property offers stable cash flow potential anchored by strong neighborhood occupancy at 93.3% and a rental-dominant housing market where nearly two-thirds of units are renter-occupied. The 1972 vintage presents value-add opportunities through strategic renovations, while the area's exceptional amenity density and proximity to major Bay Area employers support tenant retention. Commercial real estate analysis indicates improving safety trends with property crime declining 79.7% year-over-year, complementing the neighborhood's A- rating among 469 metro areas.
Demographic projections within 3 miles show household income growth of 34.8% through 2028, supporting rent escalation potential as forecast rents increase 37.5% over the same period. The elevated home values averaging $589,583 reinforce rental demand by keeping ownership costs beyond reach for many area households, while the manageable rent-to-income ratio of 0.25 reduces affordability pressure and turnover risk.
- Strong occupancy fundamentals at 93.3% with high rental tenure supporting cash flow stability
- Value-add potential through 1972 vintage renovation and unit upgrades
- Projected household income growth of 34.8% supporting rent escalation through 2028
- Exceptional amenity access with top quartile national ranking enhancing tenant appeal
- Risk consideration: Current crime levels above metro median require ongoing monitoring despite improvement trends