| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 87th | Best |
| Amenities | 36th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1039 Continentals Way, Belmont, CA, 94002, US |
| Region / Metro | Belmont |
| Year of Construction | 1972 |
| Units | 43 |
| Transaction Date | 2024-10-11 |
| Transaction Price | $23,750,000 |
| Buyer | RILEY AT BELMONT HILLS LLC |
| Seller | CONTINENTALS BELMONT PARTNERSHIP |
1039 Continentals Way, Belmont CA Multifamily Investment
Neighborhood occupancy sits in the low-90s with a high renter-occupied concentration, supporting steady demand for this 43-unit asset, according to WDSuite’s CRE market data. Elevated home values across San Mateo County further sustain reliance on rental housing and can aid retention and pricing discipline.
Belmont’s suburban setting offers strong neighborhood fundamentals with convenient access to Peninsula job centers. Neighborhood occupancy is around the low-90s, and the renter-occupied share is high for the metro, indicating a deep tenant base and steady leasing conditions. Median household incomes are near the top of national comparisons, while contract rents are also high relative to U.S. norms, underscoring an upscale renter pool and the need for proactive affordability and lease management.
Schools rank at the top among 193 metro neighborhoods (average rating 5.0 out of five), a factor that can support longer tenancy and family-oriented demand. Parks density is strong (top decile nationally), and cafes are comparatively plentiful, but neighborhood-level grocery and pharmacy counts are limited; residents typically rely on nearby corridors for daily needs. For investors, this mix favors quiet residential appeal with regional retail access rather than heavy walk-to retail.
Within a 3-mile radius, population and households expanded over the last five years, and households are projected to keep rising even if population trends modestly softer. These shifts in household composition and turnover can expand the renter pool and support occupancy stability for well-positioned multifamily.
Home values sit at the high end nationally and the value-to-income relationship for owners is elevated. In practice, this high-cost ownership market reinforces renter reliance on multifamily housing, supporting demand depth and helping sustain renewal capture for quality product.
Safety indicators track near the metro and national midrange. Relative to the 193 neighborhoods in the San Francisco–San Mateo–Redwood City metro, the area is around the middle of the pack, and national percentile placement suggests overall conditions close to U.S. averages.
Recent data show a notably improving trend in property incidents, while violent offense positioning is modestly below the national median for safety. Operators typically address this with standard measures such as lighting, access control, and resident engagement; investors should assess corridor-level patterns and recent comps to calibrate operating plans.
Nearby anchor employers bolster a deep white-collar renter base and commute convenience, including Franklin Resources, Oracle, Visa, Gilead Sciences, and related Oracle campus facilities.
- Franklin Resources — asset management (2.36 miles) — HQ
- Oracle Conference Center — enterprise software campus facilities (2.64 miles)
- Oracle — enterprise software (2.67 miles) — HQ
- Visa — payments technology (3.69 miles) — HQ
- Gilead Sciences — biotechnology (4.10 miles) — HQ
1039 Continentals Way provides scale at 43 units in a Peninsula location where neighborhood occupancy trends in the low-90s and renter-occupied share is high. Top-ranked schools, strong household incomes, and a high-cost ownership landscape reinforce renter reliance on multifamily. Built in 1972, the asset is older than the neighborhood’s average vintage, pointing to capital planning needs and value-add potential through targeted renovations to enhance competitiveness versus newer stock.
The thesis centers on proximity to anchor employers, resilient leasing fundamentals versus national benchmarks, and demand supported by high-income households. According to CRE market data from WDSuite, neighborhood rent levels sit well above U.S. norms, supporting revenue potential while calling for disciplined affordability and retention strategies.
- Stable neighborhood occupancy and high renter-occupied share underpin demand consistency
- Top-ranked schools and strong incomes support retention and leasing velocity
- High-cost ownership market sustains depth of the renter pool and pricing power
- 1972 vintage offers value-add and modernization angles with thoughtful capex
- Risks: limited neighborhood retail, elevated rents require active affordability and retention management