| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 87th | Best |
| Amenities | 36th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1015 Continentals Way, Belmont, CA, 94002, US |
| Region / Metro | Belmont |
| Year of Construction | 1973 |
| Units | 28 |
| Transaction Date | 2018-01-09 |
| Transaction Price | $14,000,000 |
| Buyer | INNOVATION AT BELMONT I LLC |
| Seller | CENTRAL REALTY USA INC |
1015 Continentals Way Belmont Multifamily Opportunity
Neighborhood fundamentals point to durable renter demand and above-median occupancy for the area, according to WDSuite’s CRE market data. High-cost ownership dynamics in Belmont support pricing power while keeping lease-up and retention balanced at the neighborhood level.
Belmont’s suburban setting combines strong schools and parks with a renter base deep enough to support multifamily performance. School quality ranks 1st among 193 metro neighborhoods and sits in the top tier nationally, a draw for family renters seeking stability. Park access is also a relative strength, with the neighborhood in the top decile nationally for park availability.
From an income and housing standpoint, the neighborhood trends toward high-earning households and elevated home values, which typically reinforce reliance on rentals. Neighborhood median contract rents are among the highest nationally, yet rent-to-income levels indicate moderated affordability pressure versus similar high-cost markets—helpful for lease retention and collections management. Average NOI per unit for the neighborhood is competitive at a top-quartile national level, signaling operational potential for well-managed assets.
Occupancy at the neighborhood level trends above the metro median (ranked 87 of 193), supporting stable cash flow expectations for professionally operated properties. Renter-occupied share is high relative to national norms, indicating a larger tenant base and consistent leasing velocity. Vintage across the area skews newer than this asset, creating an opening for value-add repositioning to compete effectively with 1980s-era stock.
Amenities skew toward parks and cafes (competitive among metro peers), while in-neighborhood grocery and pharmacy options are limited, suggesting residents typically make short drives for daily needs. Within a 3-mile radius, population and household counts have grown in recent years, and forecasts indicate further household growth—even with a modest population dip—pointing to smaller household sizes and a sustained renter pool that can support occupancy stability.
Safety indicators are mixed but broadly comparable to regional norms. Overall crime ranks near the metro midpoint (93rd of 193), placing the neighborhood around the national middle as well. Property offenses have improved meaningfully year over year, with a decline that sits in a strong national percentile, while violent offense levels trend slightly below the national middle. For investors, these dynamics suggest monitoring but not an outlier risk profile relative to the San Francisco–San Mateo–Redwood City metro.
Nearby headquarters and corporate campuses underpin a diversified white-collar employment base that supports renter demand and retention, including financial services, enterprise software, and life sciences employers listed below.
- Franklin Resources — asset management (2.4 miles) — HQ
- Oracle Conference Center — enterprise software (2.7 miles)
- Oracle — enterprise software (2.7 miles) — HQ
- Visa — payments (3.7 miles) — HQ
- Gilead Sciences — biotechnology (4.1 miles) — HQ
Built in 1973, the property is older than the neighborhood’s average vintage, creating clear value-add and capital planning angles to enhance competitiveness against 1980s-era stock. High-cost ownership in Belmont, paired with above-median neighborhood occupancy, supports depth of demand and steady leasing for well-managed assets. According to CRE market data from WDSuite, the neighborhood’s renter concentration and income profile backstop pricing power while keeping rent-to-income pressures relatively manageable for this submarket.
Within a 3-mile radius, recent population and household gains—and forecasts for continued household growth even if population softens—point to a larger tenant base over time. Proximity to major employers across finance, software, and life sciences further supports lease-up and retention, while top-of-metro school quality can attract longer-staying households, reinforcing occupancy stability.
- High-cost ownership market reinforces renter reliance and supports pricing power
- Above-median neighborhood occupancy and strong renter concentration favor leasing stability
- 1973 vintage offers value-add and capex pathways to compete with newer stock
- Diversified nearby employers (finance, software, biotech) bolster demand and retention
- Risks: limited in-neighborhood daily retail, softening population forecasts, and aging systems requiring ongoing capital