| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 79th | Best |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1866 San Miguel Dr, Walnut Creek, CA, 94596, US |
| Region / Metro | Walnut Creek |
| Year of Construction | 1996 |
| Units | 57 |
| Transaction Date | 2011-11-19 |
| Transaction Price | $11,300,000 |
| Buyer | SNH SG Properties Trust |
| Seller | Furman Properties LLC |
1866 San Miguel Dr Walnut Creek Multifamily Investment
This 57-unit property benefits from strong neighborhood fundamentals, with 99.3% occupancy rates and median household incomes of $164,220 according to CRE market data from WDSuite.
This inner suburb neighborhood ranks in the top quartile among 469 metro neighborhoods for housing fundamentals, with an A rating reflecting strong investment characteristics. The area maintains 99.3% occupancy rates, well above typical market levels, while median rents of $2,267 represent a 27% increase over five years.
Built in 1996, this property aligns with the neighborhood's average construction year of 1975, positioning it as newer housing stock that may require less immediate capital expenditure compared to older assets. The area's rental share of 31.7% creates a balanced tenure mix, with sufficient rental demand depth while avoiding oversaturation.
Demographics within a 3-mile radius show strong fundamentals for multifamily property research, with median household incomes of $139,617 and 96th percentile income levels nationally. Population growth of 1.6% over five years, combined with projected household formation through 2028, supports continued rental demand. Home values averaging $1.44 million reinforce rental housing demand, as elevated ownership costs keep households in the rental market longer.
The neighborhood offers solid amenity access with childcare facilities ranking in the 92nd percentile nationally, supporting family tenant retention. Net operating income per unit averages $16,842, ranking in the 96th percentile nationally and indicating strong revenue generation potential for comparable properties.
Safety metrics show mixed trends that warrant monitoring. Property crime rates of 443 incidents per 100,000 residents rank in the 40th percentile nationally, placing the neighborhood below the national median for property crime. However, property offense rates declined 16.4% over the past year, indicating improving conditions.
Violent crime remains relatively contained at 53 incidents per 100,000 residents, though this places the area in the 42nd percentile nationally. The neighborhood's overall crime ranking of 265th among 469 metro neighborhoods suggests moderate safety performance relative to the broader Oakland-Berkeley-Livermore region.
The property benefits from proximity to major corporate headquarters and offices that provide employment stability for the regional workforce, supporting tenant demand and retention.
- Chevron — energy & petroleum (10.7 miles) — HQ
- Clorox — consumer products (13.6 miles) — HQ
- Ross Stores — retail headquarters (15.5 miles) — HQ
- Caterpillar — industrial equipment offices (18.7 miles)
- Charles Schwab — financial services (20.0 miles) — HQ
This 1996-built property offers stable fundamentals in a high-performing neighborhood that ranks in the top quartile for housing metrics among Oakland-Berkeley-Livermore area neighborhoods. Occupancy rates of 99.3% and median household incomes exceeding $164,000 provide strong tenant quality and retention potential. The property's vintage positions it favorably for value-add opportunities while avoiding the immediate capital expenditure needs of older housing stock.
Commercial real estate analysis indicates sustained rental demand drivers, including elevated home values that reinforce renter reliance on multifamily housing and projected household growth through 2028. The neighborhood's 96th percentile ranking for net operating income per unit suggests strong revenue generation potential, though investors should monitor crime trends and competitive dynamics in this mixed-tenure market.
- Exceptional occupancy stability at 99.3% neighborhood-wide with strong tenant income profiles
- 1996 construction year offers value-add potential without immediate capital expenditure pressure
- High home values ($1.44M median) sustain rental demand by limiting ownership competition
- Proximity to major corporate employers including Chevron and Clorox headquarters
- Risk consideration: Property crime rates rank below national median, requiring ongoing monitoring