| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 49th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 868 Fargo Ave, San Leandro, CA, 94579, US |
| Region / Metro | San Leandro |
| Year of Construction | 1973 |
| Units | 38 |
| Transaction Date | 2012-09-21 |
| Transaction Price | $6,412,000 |
| Buyer | FARGO SENIOR CENTER LP |
| Seller | FARGO SENIOR CENTER INC |
868 Fargo Ave, San Leandro Multifamily Investment
Neighborhood fundamentals indicate steady renter demand and above-average occupancy for the area, according to WDSuite’s CRE market data, supporting a durable hold thesis in a high-cost ownership market. Metrics cited reflect the surrounding neighborhood, not this specific property.
Situated in Alameda County’s Urban Core, the property benefits from a neighborhood rated B+ among 469 metro neighborhoods in the Oakland–Berkeley–Livermore region. Area occupancy trends benchmark in the upper tier nationally, suggesting a backdrop conducive to lease stability for comparable assets in this submarket.
Daily-needs access is a strength: the neighborhood scores high nationally for grocery and restaurant density, with strong pharmacy coverage as well. This retail mix typically supports resident convenience and retention. The main trade-off is limited park access within the immediate area, which may slightly temper outdoor amenity appeal.
Home values in the surrounding neighborhood sit in the upper national percentiles, indicating a high-cost ownership market. For multifamily investors, that context generally reinforces reliance on rental housing and can deepen the tenant base for well-managed properties. Neighborhood renter concentration is meaningful (share of housing units that are renter-occupied), supporting demand depth for smaller footprints like this property.
School ratings in the area trend below national midpoints, which some operators may weigh when marketing to family households. At the same time, the amenity and employment access profile aligns with workforce and commuter-oriented demand, which can offset school-driven headwinds for certain unit mixes.
Within a 3-mile radius, recent data show modest softness in population and households, with projections calling for a shift toward smaller average household sizes and an increase in households over the next five years. That dynamic can expand the pool of renters even when total population is flat, supporting occupancy stability for competitively positioned assets.
Safety indicators present a mixed but improving picture. Overall crime benchmarks above the national average for safety by percentile, while property offense measures sit closer to the national midpoint. Year over year, both violent and property offense rates show notable declines, indicating momentum in the right direction. These figures are neighborhood-level, not property-specific.
Compared with other neighborhoods in the Oakland–Berkeley–Livermore metro (469 neighborhoods total), the area’s trend improvements support a more stable operating outlook than raw incident counts alone might suggest. Operators should still apply standard security and lighting best practices to manage risk and support tenant retention.
The surrounding area draws from a diverse employment base, supporting commuter convenience and renter retention. Notable nearby employers include Ryder, Caterpillar, and several Bay Area headquarters such as Clorox, Chevron, and Gilead Sciences.
- Ryder — logistics (2.5 miles)
- Caterpillar — industrial equipment offices (4.4 miles)
- Clorox — consumer goods (10.6 miles) — HQ
- Chevron — energy (11.2 miles) — HQ
- Gilead Sciences — biopharma (11.3 miles) — HQ
This 38-unit asset built in 1973 positions slightly newer than the neighborhood’s average vintage, offering a competitive edge against older stock while still warranting targeted system upgrades and modernization to enhance durability and rentability. The surrounding neighborhood exhibits upper-tier national occupancy and elevated ownership costs, which, based on CRE market data from WDSuite, generally sustains multifamily renter demand and supports pricing power for well-managed, renovated units.
Amenity density is strong (groceries, restaurants, pharmacies), and proximity to major employers underpins a broad commuter tenant base. Within a 3-mile radius, forecasts point to smaller household sizes and an increase in households, which can translate into a larger renter pool even if population growth is modest. Key considerations include below-median school ratings and limited park space, both of which argue for asset-level amenity upgrades and tenant experience programming to support retention.
- 1973 construction offers value-add potential; selective capital projects can lift competitiveness versus older nearby stock.
- High-cost ownership market reinforces renter reliance, supporting demand depth and lease stability.
- Strong amenity access and diversified employment nodes bolster commuter-friendly tenancy and retention.
- Household growth with smaller household sizes in the 3-mile radius can expand the renter pool and support occupancy.
- Risk: lower school ratings and limited park access may require enhanced on-site amenities and tenant programming to offset.