| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 85th | Best |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 964 Risa Rd, Lafayette, CA, 94549, US |
| Region / Metro | Lafayette |
| Year of Construction | 1973 |
| Units | 39 |
| Transaction Date | 2016-03-17 |
| Transaction Price | $12,800,000 |
| Buyer | Patrick F. Mockler |
| Seller | Johnson Clark & Louise Harvey Clark Trus |
964 Risa Rd Lafayette Multifamily in High-Income Market
Positioned in a high-cost ownership area with top-rated schools, the neighborhood shows resilient renter demand and pricing power, according to WDSuite’s CRE market data. Renter concentration is modest locally, so performance leans on location quality and lease management rather than volume leasing.
The property sits in Lafayette, CA, within a suburban neighborhood rated A and ranked 29 among 469 metro neighborhoods—firmly in the top quartile among Oakland-Berkeley-Livermore submarkets by overall quality. Amenities index strong for investors: restaurants, cafes, parks, and essential services are competitive nationally, supporting day-to-day livability and resident retention.
Schools in the neighborhood average 5.0 out of 5, ranking 1st among 469 metro neighborhoods and at the top percentile nationally, a notable driver for stable family-oriented demand. Neighborhood rents trend high and have outperformed over the past five years, reinforcing the area’s positioning as a premium suburban node rather than a discount play.
Home values in the neighborhood are elevated relative to national and metro benchmarks, which tends to sustain reliance on multifamily rentals and support pricing power from an investor standpoint. The renter-occupied share is moderate locally, indicating a smaller but durable tenant base; effective leasing focuses on product quality and service rather than deep discounting.
Neighborhood occupancy currently tracks below the metro median, so underwriting should emphasize renewal execution and targeted unit turns to support stability. Demographic statistics aggregated within a 3-mile radius show recent population softness but a projected rebound with household growth over the next five years, which implies a larger tenant base and supports future leasing, based on CRE market data from WDSuite.
Vintage and asset positioning: Built in 1973, the property is older than the neighborhood’s average construction year. That typically points to capital planning for building systems and common areas, with potential value-add upside through modernization to compete effectively against newer stock.
Neighborhood safety indicators are generally around the national midrange, with violent offenses tracking slightly better than national averages and property offenses nearer the middle, according to WDSuite’s CRE market data. Within the Oakland-Berkeley-Livermore metro, the area is competitive but not among the lowest-crime quartile, so owners typically emphasize lighting, access control, and resident engagement to support retention.
Recent trend data notes a near-term uptick in violent offense rates. While changes can be cyclical, prudent monitoring and standard community-safety measures are advisable for asset planning and lease management.
Proximity to major Bay Area headquarters supports a strong white-collar renter base and commute convenience. Notable employers include Clorox, Chevron, Gap, Charles Schwab, and Salesforce, which collectively help sustain leasing fundamentals.
- Clorox — consumer products (9.6 miles) — HQ
- Chevron — energy (13.2 miles) — HQ
- Gap — apparel retail (15.5 miles) — HQ
- Charles Schwab — financial services (15.6 miles) — HQ
- Salesforce.com — software (15.6 miles) — HQ
964 Risa Rd offers exposure to Lafayette’s high-income, top-school suburban fundamentals where elevated ownership costs underpin multifamily demand. Although the neighborhood’s occupancy rate sits below the metro median, household growth projected within a 3-mile radius suggests a gradual expansion of the renter pool, aiding future lease-up and renewal momentum. Built in 1973, the 39-unit asset can benefit from targeted upgrades to drive competitive positioning versus newer inventory.
According to CRE market data from WDSuite, neighborhood rents are among the higher tiers locally while safety signals sit near national midrange—conditions that typically reward disciplined operations and selective value-add. Average unit size of roughly 866 square feet supports family appeal in a top-ranked school district, which can translate to steadier retention when combined with quality improvements.
- High-income, top-school location supports durable renter demand and pricing power
- 1973 vintage presents value-add potential through system upgrades and interior refreshes
- Proximity to major Bay Area HQs broadens the white-collar tenant base
- Larger average unit sizes align with family-oriented demand in a top-rated school area
- Risk: neighborhood occupancy below metro median requires strong renewal and leasing execution