| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 85th | Best |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 966 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 | Lafayette Vistas, LP |
| Seller | Acalanes Apartments, LP |
966 Risa Rd, Lafayette CA Multifamily Investment
Positioned in a high-income, high-cost ownership pocket of Lafayette, this asset targets steady renter demand and retention from professionals priced out of buying, according to WDSuite’s CRE market data. Neighborhood fundamentals favor durable occupancy with room for value-add execution rather than outsized lease-up risk.
Lafayette’s suburban setting combines strong schools, daily conveniences, and commuter access that typically support stable renter demand. The neighborhood rates in the top quartile nationally for overall livability and amenities, with cafes and restaurants per square mile well above national norms. Schools are a standout: the average school rating ranks 1st among 469 metro neighborhoods and sits in the 100th percentile nationally, a driver of long-term housing stability and family-oriented demand.
Amenity access is competitive, with cafes per square mile in the 91st percentile and restaurants in the 81st percentile nationwide, plus park access in the 83rd percentile. These characteristics, alongside convenient retail and services, help underpin leasing retention and appeal to higher-earning renters seeking quality-of-life proximity without trading off daily needs.
Housing dynamics suggest a predominantly owner-oriented area: the neighborhood’s renter-occupied share is modest, indicating a thinner but higher-income tenant base that can support pricing discipline. Neighborhood occupancy is below the national median and has eased over the past five years, so operations should prioritize renewal management and targeted unit upgrades to sustain lease stability.
Within a 3-mile radius, recent population trends show a modest contraction, but WDSuite data indicate a projected increase in households by 2028, pointing to a larger tenant base even as population growth is measured. Elevated home values, near the top of national comparisons, reinforce multifamily’s role as the more accessible housing option for many earners, supporting demand depth and renewal prospects.
The average neighborhood construction year skews to 1985, while this property’s 1973 vintage is older than nearby stock. That age profile can be leveraged for value-add—strategic renovations and systems updates to differentiate versus newer competitive sets and capture renters seeking quality finishes in a supply-constrained ownership market.
Safety indicators are mixed but generally competitive. Compared with neighborhoods nationwide, the area sits around the middle of the pack, while within the Oakland–Berkeley–Livermore metro it trends below the median (ranked in the lower half among 469 neighborhoods). Violent offense rates benchmark slightly better than national averages, while property offense trends have ticked up recently. For investors, this points to typical suburban risk management rather than outlier exposure—practical measures like lighting, access control, and resident engagement should support leasing and renewal outcomes.
Proximity to Bay Area corporate hubs supports a professional renter base and commute convenience, with several headquarters within a 10–16 mile radius that can stabilize leasing and renewal pipelines. Featured employers include Clorox, Chevron, Gap, Charles Schwab, and Salesforce.
- Clorox — consumer goods HQ (9.6 miles) — HQ
- Chevron — energy HQ (13.2 miles) — HQ
- Gap — apparel HQ (15.6 miles) — HQ
- Charles Schwab — financial services (15.7 miles) — HQ
- Salesforce.com — enterprise software (15.7 miles) — HQ
966 Risa Rd offers exposure to a high-income East Bay suburb where ownership costs are elevated and schools are top-tier, factors that help sustain multifamily demand from professionals and families seeking quality rentals. The property’s 1973 vintage creates a clear value-add path—targeted interior upgrades and selective building systems work can improve competitive positioning versus the area’s newer average stock. According to CRE market data from WDSuite, neighborhood occupancy sits below national medians, so asset performance will hinge on renewal strategy, amenity alignment, and calibrated rent growth rather than aggressive lease-up assumptions.
Within a 3-mile radius, households are projected to increase by 2028 despite only modest population growth, indicating a larger tenant base over time. Elevated home values near the top of national comparisons support renter reliance on multifamily housing, while high median incomes can mitigate affordability pressure and support retention. These dynamics, combined with proximity to major employment hubs, frame a thesis centered on durable demand and operational execution.
- High-income suburb with top-ranked schools among 469 metro neighborhoods, supporting long-term renter appeal
- 1973 vintage enables value-add through targeted renovations and systems upgrades versus newer neighborhood stock
- Household growth within 3 miles points to a larger tenant base and supports occupancy stability over time
- Elevated ownership costs reinforce multifamily demand and pricing power for well-positioned units
- Risk: neighborhood occupancy trends below national norms; underwriting should emphasize renewals and measured rent setting