| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 87th | Best |
| Amenities | 36th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1016 Continentals Way, Belmont, CA, 94002, US |
| Region / Metro | Belmont |
| Year of Construction | 1977 |
| Units | 25 |
| Transaction Date | 2018-01-09 |
| Transaction Price | $13,125,000 |
| Buyer | INNOVATION AT BELMONT II LLC |
| Seller | CENTRAL REALTY USA INC |
1016 Continentals Way Belmont Multifamily Investment
Neighborhood data points to durable renter demand supported by elevated ownership costs and above-median occupancy for the area, according to WDSuite’s CRE market data. Metrics cited reflect neighborhood conditions, not this specific property.
Belmont’s suburban setting offers strong fundamentals for multifamily: the neighborhood’s occupancy sits above the metro median among 193 San Francisco–San Mateo–Redwood City neighborhoods, indicating steadier leasing conditions at the neighborhood level rather than at the individual asset. A relatively high share of housing units are renter-occupied (neighborhood renter concentration), supporting a deeper tenant base and potential retention stability.
Household incomes are high (above most neighborhoods nationally), while the neighborhood rent-to-income ratio trends on the lower side for the region, which can bolster collections and limit affordability pressure. Elevated home values in the area create a high-cost ownership market, which tends to sustain reliance on rental housing and can support pricing power when operations are well-managed.
Livability drivers are notable: public schools in the neighborhood cluster average near the top of the metro (ranked best among 193 metro neighborhoods and in the top percentile nationally), a factor that can enhance long-term neighborhood stability. Parks access is strong (top decile nationally), while cafes and restaurants are around the metro median; immediate counts of groceries, pharmacies, and childcare within the neighborhood are limited, so residents commonly draw on nearby corridors for daily needs.
Demographic statistics aggregated within a 3-mile radius show recent population and household growth, with forecasts calling for a larger household count even as total population trends level, pointing to smaller household sizes and a broader renter pool over time. For multifamily, that mix typically supports occupancy stability and ongoing leasing demand.
Built in 1977, the property is slightly older than the neighborhood’s average vintage. Investors should plan for capital improvements and potential value-add renovations to keep the asset competitive against newer stock, while leveraging neighborhood demand drivers.
Safety trends are mixed and should be evaluated in context. At the neighborhood level, overall crime ranks near the metro midpoint among 193 neighborhoods and sits around the national middle. Property offenses have improved materially year over year (an improvement that places the area among stronger national improvers), while violent offense metrics have moved the other way recently, trending weaker than many neighborhoods nationally. These figures describe neighborhood conditions rather than block-level risk and can shift over time.
For underwriting, compare recent multi-year trends for this specific micro-area against the broader San Mateo County and metro benchmarks, and consider property-level measures (lighting, access control) to support resident confidence.
The neighborhood benefits from proximity to major corporate employers that draw a skilled workforce and support renter demand through commute convenience, including Franklin Resources, Oracle, Visa, and Gilead Sciences.
- Franklin Resources — asset management (2.4 miles) — HQ
- Oracle Conference Center — technology campus facility (2.7 miles)
- Oracle — enterprise software (2.7 miles) — HQ
- Visa — payments technology (3.7 miles) — HQ
- Gilead Sciences — biopharma (4.1 miles) — HQ
This 1977, 25-unit asset in Belmont is positioned in a high-income, high-cost ownership market where neighborhood-level occupancy is above the metro median and renter concentration is elevated. These dynamics point to a resilient tenant base and potential pricing power when paired with effective operations, based on CRE market data from WDSuite.
Forward-looking demographics within a 3-mile radius suggest a larger household count despite flatter population totals, implying smaller household sizes and a broader renter pool. Given the slightly older vintage relative to the neighborhood average, a targeted capital plan and value-add program can help the property compete against newer stock while leveraging proximity to multiple anchor employers and top-ranked schools.
- Above-median neighborhood occupancy and strong renter concentration support leasing stability
- High-income area with elevated home values reinforces sustained multifamily demand
- 1977 construction offers value-add and modernization upside through targeted capex
- Proximity to major employers and top-rated schools underpins long-term fundamentals
- Risks: mixed safety trends and limited immediate retail; underwriting should account for capex and demand sensitivity