| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 87th | Best |
| Amenities | 36th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1060 Continentals Way, Belmont, CA, 94002, US |
| Region / Metro | Belmont |
| Year of Construction | 1972 |
| Units | 63 |
| Transaction Date | 2006-10-19 |
| Transaction Price | $14,700,000 |
| Buyer | ESSEX PORTFOLIO LP |
| Seller | BELMONT TERRACE ASSOCIATES |
1060 Continentals Way Belmont Multifamily Investment
Neighborhood-level occupancy of 93.2% reflects stable rental demand in this San Francisco Bay Area submarket, where elevated home values sustain multifamily reliance according to WDSuite's CRE market data.
This Belmont neighborhood ranks among the top quartile of San Francisco-San Mateo-Redwood City metro neighborhoods for demographics and housing fundamentals. The area maintains a 60.2% renter-occupied housing concentration, creating a substantial tenant base for multifamily properties. Median home values of $1.79 million limit ownership accessibility, reinforcing rental demand in the submarket.
The property's 1972 construction year aligns with the neighborhood average vintage of 1981, indicating potential value-add opportunities through targeted capital improvements. Demographic data aggregated within a 3-mile radius shows median household income of $187,521 with 42.7% of housing units renter-occupied. Projected household growth of 15.1% through 2028 supports expansion of the renter pool, while income growth projections of 22.6% over the same period suggest improved rent-paying capacity.
The neighborhood achieves exceptional school ratings averaging 5.0 out of 5, ranking first among 193 metro neighborhoods and placing in the 100th national percentile. This educational quality supports tenant retention, particularly among families. Park density of 1.7 per square mile ranks in the 92nd national percentile, enhancing livability appeal. However, amenity access shows mixed results, with limited grocery and childcare options potentially affecting tenant convenience.
Crime metrics place this neighborhood in the middle tier among San Francisco-San Mateo-Redwood City metro areas, ranking 93rd of 193 neighborhoods and achieving the 48th national percentile for overall safety. Property crime rates have declined 40.3% year-over-year, a positive trend that ranks in the 82nd national percentile for improvement.
Violent crime rates remain relatively contained at 56.2 incidents per 100,000 residents, though they increased 76.4% year-over-year. This mixed safety profile suggests investors should monitor crime trends closely, as safety perceptions can influence tenant retention and lease-up velocity in competitive Bay Area rental markets.
The employment base centers on major technology and financial services corporations within commuting distance, supporting professional workforce demand for rental housing.
- Franklin Resources — financial services (2.4 miles) — HQ
- Oracle Conference Center — technology offices (2.6 miles)
- Oracle — enterprise software (2.6 miles) — HQ
- Visa — payment technology (3.7 miles) — HQ
- Gilead Sciences — biopharmaceuticals (4.1 miles) — HQ
This 63-unit property built in 1972 benefits from Belmont's strong fundamentals, including 93.2% neighborhood-level occupancy and proximity to major Bay Area employers. The submarket's elevated home values and substantial renter concentration create sustained multifamily demand, while the vintage offers potential value-add upside through strategic improvements.
Demographics within a 3-mile radius show household growth projections of 15.1% through 2028, expanding the tenant base. High-income households and top-tier school ratings support premium rents and tenant retention. Based on multifamily property research, the combination of employment proximity and housing market dynamics positions this asset for stable occupancy performance.
- Strong neighborhood occupancy of 93.2% indicates stable rental demand
- Proximity to major tech and financial headquarters supports professional tenant base
- Elevated home values of $1.79 million median sustain multifamily reliance
- 1972 vintage offers value-add potential through targeted capital improvements
- Risk: Mixed safety trends and limited nearby amenities may affect tenant appeal