| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 49th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 820 Fargo Ave, San Leandro, CA, 94579, US |
| Region / Metro | San Leandro |
| Year of Construction | 1973 |
| Units | 37 |
| Transaction Date | 2012-09-21 |
| Transaction Price | $6,412,000 |
| Buyer | FARGO SENIOR CENTER LP |
| Seller | FARGO SENIOR CENTER INC |
820 Fargo Ave, San Leandro Multifamily Investment
Neighborhood fundamentals point to steady renter demand and high occupancy, according to WDSuite’s CRE market data, supporting leasing stability for a 1970s vintage, mid-sized asset.
Situated in San Leandro’s Urban Core, the property benefits from a B+ neighborhood rating and a location that is competitive among Oakland-Berkeley-Livermore neighborhoods (159 out of 469). Retail and daily-needs access are a strength: restaurants and grocery options score in the top decile nationally, and pharmacies are even stronger, while park access is limited—an operating nuance to consider for resident amenities programming.
The submarket shows solid renter demand signals. Neighborhood occupancy is elevated (95.3%), supporting the case for leasing stability and renewal retention. Renter-occupied housing comprises about two-fifths of units locally (39.5%), indicating a meaningful tenant base for multifamily product without over-reliance on any single renter segment.
Vintage context matters: the area’s average construction year is 1967, while this property was built in 1973. Being somewhat newer than the neighborhood average can help competitiveness versus older stock; still, investors should plan for ongoing system updates and interior modernization to protect positioning against newer deliveries.
Within a 3-mile radius (demographics aggregated at this scale), household incomes are comparatively strong with notable growth over the last cycle, and home values in the neighborhood rank in a high national percentile. Elevated ownership costs in this submarket tend to reinforce reliance on multifamily housing, which can support occupancy durability and pricing power. Looking forward, projections show smaller average household sizes and an increase in households even with flat population trends—both consistent with a larger renter pool and support for stabilized operations.
School ratings average below national medians in the immediate neighborhood, which may matter for family-oriented leasing strategies. Amenity density (cafes, groceries, pharmacies) can offset some of this by enhancing day-to-day convenience, but operators should calibrate marketing and unit mixes with these dynamics in mind.
Safety indicators show mixed but improving signals. Recent WDSuite data indicates substantial year-over-year declines in both violent and property offense rates in the neighborhood, a constructive trend for resident sentiment and lease renewals. Even with these improvements, the area does not sit in the top quartile nationally for safety, so prudent on-site management practices (lighting, access control, and community engagement) remain relevant to support retention.
Relative to the Oakland-Berkeley-Livermore metro, conditions vary by block and corridor; investors should evaluate property-level security measures and daytime versus evening activity patterns as part of due diligence, using neighborhood data as context rather than a proxy for the asset itself.
Proximity to a diversified employment base underpins renter demand and commute convenience, notably across logistics, industrial equipment, and major Bay Area headquarters including Clorox, Chevron, and Gilead Sciences.
- Ryder — logistics (2.5 miles)
- Caterpillar — industrial equipment (4.3 miles)
- Clorox — consumer goods (10.7 miles) — HQ
- Chevron — energy (11.2 miles) — HQ
- Gilead Sciences — biopharma (11.3 miles) — HQ
This 37-unit, 1973-vintage asset offers durable renter demand drivers in San Leandro’s Urban Core. The neighborhood shows elevated occupancy and a meaningful renter-occupied share, while high-cost ownership dynamics locally tend to sustain reliance on multifamily housing. Being somewhat newer than the neighborhood’s average vintage supports competitiveness versus older stock; targeted capital for common areas, building systems, and in-unit finishes can position the asset for value-add upside without full repositioning.
Within a 3-mile radius (demographics aggregated at this scale), incomes have trended upward and households are projected to increase as average household sizes moderate—factors that point to a larger tenant base and support for occupancy stability. According to CRE market data from WDSuite, neighborhood rent levels and occupancy trends align with a strategy focused on steady operations, with lease management attentive to affordability pressure and resident retention.
- Elevated neighborhood occupancy and solid renter base support stable leasing
- High-cost ownership market reinforces demand for rental housing and pricing power
- 1973 vintage newer than area average with clear scope for targeted value-add
- Risks: below-median school ratings, limited park access, and safety not top quartile nationally—active management remains important