| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Poor |
| Demographics | 57th | Fair |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3886 Mulberry Dr, Concord, CA, 94519, US |
| Region / Metro | Concord |
| Year of Construction | 1984 |
| Units | 20 |
| Transaction Date | 2009-09-01 |
| Transaction Price | $2,975,000 |
| Buyer | --- |
| Seller | --- |
3886 Mulberry Dr, Concord CA — 20-Unit Multifamily
Steady renter demand in an inner-suburban pocket of Concord supports occupancy and lease retention, according to WDSuite’s CRE market data. Elevated home values in the area favor multifamily positioning over ownership, reinforcing a durable tenant base.
Located in Concord’s inner suburbs, the neighborhood carries a B- rating and ranks 235 out of 469 Oakland–Berkeley–Livermore metro neighborhoods, placing it around the metro median. Amenity access is competitive among Oakland–Berkeley–Livermore neighborhoods, with grocery options in the top quartile nationally and restaurants also outperforming national averages, while cafes and pharmacies are less dense than typical urban cores.
Ownership costs are high relative to income in this part of Contra Costa County, with home values in the top quartile nationally. That high-cost ownership market tends to sustain reliance on rentals, supporting depth of the tenant base and pricing power for well-run assets. Neighborhood rents trend above U.S. norms, while rent-to-income levels indicate manageable affordability pressure that can aid renewal rates.
Within a 3-mile radius, households are high earning on average and the renter-occupied share is roughly one-third, indicating a sizable pool of multifamily demand without overwhelming turnover risk. Population has been stable to slightly down in recent years, but forecasts point to modest population growth and a larger household count ahead as average household size moderates—factors that can expand the renter pool and support occupancy stability.
The property’s 1984 vintage is newer than the neighborhood’s average 1970s stock, which can improve competitive positioning versus older assets; investors should still underwrite selective system upgrades or cosmetic refresh to meet current renter expectations.
Safety trends present a mixed but constructive picture. The neighborhood sits above the national median for safety (top half nationwide), though within the Oakland–Berkeley–Livermore metro it is not among the highest-ranked areas for low crime (ranked 99 out of 469 metro neighborhoods). This suggests operations should emphasize standard security and lighting to remain competitive with nearby submarkets.
Recent data indicate property-related incidents have declined year over year, while violent offenses ticked up modestly—both compared against neighborhoods nationwide. For investors, the directional improvement in property incidents is encouraging, and the national standing remains solid; however, underwriting should account for metro-level variability and continued focus on preventive measures.
Proximity to large employment centers underpins renter demand, with access to energy, retail, consumer products, logistics, and industrial equipment employers that draw a diverse workforce and support leasing stability.
- Chevron — energy (15.4 miles) — HQ
- Ross Stores — off-price retail (19.4 miles) — HQ
- Clorox — consumer products (19.5 miles) — HQ
- Ryder — logistics (23.7 miles)
- Caterpillar — industrial equipment offices (25.2 miles)
This 20-unit property combines a relatively newer 1984 vintage with a Concord location that benefits from a high-income renter base and a high-cost ownership market. Neighborhood occupancy stands above national norms and, according to CRE market data from WDSuite, grocery and park access rank well nationally—both supportive of day-to-day livability that aids retention. With average floor plans around 900 square feet, units are positioned for practical, family-friendly layouts.
Forward-looking demographics aggregated within a 3-mile radius point to modest population growth alongside an increase in households as average household size edges lower—an environment that can expand the renter pool over time. The asset’s relative youth versus older local stock supports competitive positioning; targeted renovations or building system updates can unlock additional value without the scope typical of 1960s–1970s properties.
- High-cost ownership market reinforces multifamily demand and supports pricing power
- Above-national occupancy and strong daily-needs amenities support retention
- 1984 vintage offers competitive positioning with value-add potential through selective updates
- Diverse regional employers within commuting range bolster workforce housing demand
- Risks: metro-relative safety standing and uneven cafe/pharmacy density warrant operational focus and prudent underwriting