| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 62nd | Fair |
| Amenities | 90th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3900 Horner St, Union City, CA, 94587, US |
| Region / Metro | Union City |
| Year of Construction | 1986 |
| Units | 60 |
| Transaction Date | 2023-08-30 |
| Transaction Price | $15,000,000 |
| Buyer | SUMMERHILL PLACE APARTMENTS LLC |
| Seller | BRUCE LOESCH LLC |
3900 Horner St Union City Multifamily Investment Opportunity
Neighborhood occupancy remains strong and renter demand is supported by a high-cost ownership market in Union City, according to WDSuite’s CRE market data. Expect steady leasing fundamentals with room for selective value-add given the asset’s 1986 vintage.
Located in Union City’s inner suburban fabric of the Oakland-Berkeley-Livermore metro, the neighborhood posts an A rating and ranks 38th out of 469 metro neighborhoods—competitive among Oakland-Berkeley-Livermore neighborhoods. High neighborhood occupancy (measured for the neighborhood, not this property) is supported by strong incomes and limited turnover, pointing to durable rent rolls for well-managed assets.
Local convenience supports livability: grocery, dining, parks, pharmacies, and cafes all benchmark in high national percentiles, and average school ratings trend above national norms. These factors typically aid retention and reduce marketing downtime versus weaker submarkets.
Ownership costs are elevated for the area (home values track in the upper national percentiles), which tends to reinforce reliance on multifamily rentals and supports pricing power for well-located properties. The neighborhood’s renter-occupied housing share is roughly one-quarter to one-third of units, indicating a meaningful, though not dominant, tenant base for multifamily demand.
Within a 3-mile radius, household counts have edged up even as population has modestly contracted, and forecasts indicate a larger number of households alongside smaller average household sizes. For investors, that combination points to a broader tenant base and sustained demand for professionally managed apartments, particularly efficient floor plans.
Safety indicators are mixed but trending favorably. The neighborhood benchmarks stronger than many areas nationally (top quartile nationally), and recent data show notable year-over-year declines in property and violent offense rates. At the metro level, conditions can vary block to block, and the neighborhood’s rank within the Oakland-Berkeley-Livermore area suggests investors should underwrite routine security and lighting improvements typical for inner suburb locations.
Overall, comparative national positioning and improving trend lines are constructive for leasing stability, while prudent on-site measures and resident engagement remain best practices for risk management.
The location is proximate to a diversified employment base that supports renter demand and commute convenience, including Caterpillar, Ryder, Sanmina, Facebook, and Synnex.
- Caterpillar — corporate offices (3.2 miles)
- Ryder — corporate offices (4.9 miles)
- Sanmina Corporation — corporate offices (8.2 miles)
- Facebook — corporate offices (8.7 miles) — HQ
- Synnex — corporate offices (8.7 miles) — HQ
3900 Horner St is a 60-unit, 1986-vintage asset positioned in a high-performing Union City neighborhood where occupancy is strong and everyday amenities score well nationally. The vintage is slightly newer than the area’s average stock, offering relative competitiveness versus older assets, while still presenting potential value-add through unit and system updates typical for assets of this era. Based on CRE market data from WDSuite, the neighborhood’s high-cost ownership landscape and above-average incomes underpin a stable renter base and support rent durability.
Within a 3-mile radius, households are growing and are expected to expand further as average household sizes decline, which can broaden the tenant pool for efficient layouts. Proximity to major employers across tech, manufacturing, and logistics further supports weekday occupancy, retention, and leasing velocity. Key risks to monitor include slower population growth projections and standard capex needs associated with mid-1980s construction.
- High neighborhood occupancy and strong amenity access support leasing stability
- 1986 vintage offers value-add potential via interior and building system updates
- Elevated ownership costs and solid incomes reinforce multifamily demand and pricing power
- Diverse nearby employers bolster retention and weekday occupancy
- Risks: modest population contraction and typical mid-1980s capex/maintenance planning