| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Poor |
| Demographics | 29th | Poor |
| Amenities | 81st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5545 3rd St, San Francisco, CA, 94124, US |
| Region / Metro | San Francisco |
| Year of Construction | 1999 |
| Units | 54 |
| Transaction Date | 1996-04-23 |
| Transaction Price | $490,000 |
| Buyer | EVERGREEN PACIFIC CORP |
| Seller | UNION OIL CO OF CAL |
5545 3rd St San Francisco Multifamily Opportunity
Demand is supported by a high-cost ownership market and strong neighborhood amenities, according to CRE market data from WDSuite, suggesting stable renter depth even as the broader metro normalizes.
Located in San Francisco’s Urban Core, the property benefits from a neighborhood that is competitive among the 193 San Francisco–San Mateo–Redwood City neighborhoods for amenity access (ranked 51), with cafes, groceries, and parks scoring in the upper percentiles nationally. This mix underpins day-to-day convenience for residents and supports retention and leasing velocity.
The local housing landscape points to sustained multifamily need: the share of renter-occupied housing units is elevated versus most U.S. neighborhoods, reinforcing the depth of the tenant base. Neighborhood occupancy trends sit near the national middle and have softened modestly in recent years, which calls for disciplined leasing and asset management to sustain performance.
Home values in the neighborhood are among the highest nationally, and the value-to-income ratio ranks at the top of U.S. neighborhoods. In practical terms, this high-cost ownership market sustains reliance on rental housing and can support pricing power, while a moderate rent-to-income profile indicates room for thoughtful revenue management without undue affordability pressure.
Within a 3-mile radius, demographics show a slight population contraction in recent years but a modest increase in households and families, with forecasts indicating further household growth alongside smaller average household sizes. For multifamily owners, that dynamic typically expands the renter pool and can support occupancy stability even if total population edges lower. Average school ratings trail metro norms, which may reduce family-driven demand in certain unit mixes; however, strong amenity access and employment proximity can offset for a broad renter cohort.
Asset positioning: Built in 1999, the property is materially newer than the neighborhood’s average vintage (1959). That relative youth can provide competitive differentiation versus older stock, while still leaving room for targeted modernization or system updates as part of a value-add plan.
Safety conditions are mixed and should be considered in underwriting. The neighborhood ranks 168 out of 193 metro neighborhoods for overall crime, indicating higher incident levels relative to the metro. Compared with neighborhoods nationwide, safety percentiles are low; however, recent year-over-year trends show improvement, with estimated violent and property offense rates declining. For investors, this suggests ongoing operational vigilance, but with some momentum toward stabilization.
Proximity to major employers supports a steady renter base seeking commute convenience to life sciences and corporate offices, including Celgene, Core-Mark, McKesson (and McKesson Ventures), and Charles Schwab.
- Celgene — life sciences (2.9 miles)
- Core-Mark Holding — distribution (4.2 miles) — HQ
- McKesson Ventures — healthcare investment (4.3 miles)
- McKesson — healthcare & pharma (4.3 miles) — HQ
- Charles Schwab — financial services (4.4 miles) — HQ
This 54-unit asset at 5545 3rd St was constructed in 1999, offering a newer-vintage alternative to much of the surrounding housing stock. The neighborhood’s elevated renter concentration and high-cost ownership environment support durable multifamily demand, while amenity density enhances livability and leasing prospects. According to CRE market data from WDSuite, neighborhood occupancy sits near the national midpoint, pointing to stable but competitive conditions that reward proactive leasing and targeted upgrades.
Within a 3-mile radius, household counts have increased and are forecast to rise further even as average household size trends smaller—an investor-relevant setup that can expand the renter pool and support occupancy stability. High home values and proximity to notable employers further underpin tenant retention potential. Risks include below-metro safety rankings and lagging school ratings, which argue for focused operations and unit-mix strategy.
- Newer 1999 vintage versus older neighborhood stock, with room for targeted modernization
- High-cost ownership market reinforces rental demand and supports pricing power
- Strong amenity density and proximity to major employers support retention and leasing
- Household growth within 3 miles expands tenant base and supports occupancy stability
- Considerations: below-metro safety ranking and weaker school ratings require active management