| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 87th | Best |
| Amenities | 36th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2121 Valerga Dr, Belmont, CA, 94002, US |
| Region / Metro | Belmont |
| Year of Construction | 1972 |
| Units | 34 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2121 Valerga Dr, Belmont CA Multifamily Investment
Neighborhood fundamentals point to durable renter demand and above-median occupancy stability at the neighborhood level, according to CRE market data from WDSuite. Elevated ownership costs in San Mateo County support leasing resilience for well-positioned assets in Belmont.
Belmont sits within the San Francisco–San Mateo–Redwood City metro and this neighborhood is rated B, ranking 93 out of 193 metro neighborhoods. School quality stands out with an average rating of 5.0 out of 5, ranking 1 of 193 and in the top percentile nationally, a draw for households seeking stability and supporting retention for family-oriented unit mixes.
At the neighborhood level, renter-occupied housing accounts for a large share (ranked in the 94th national percentile), signaling a deep tenant base for multifamily. Neighborhood occupancy is 93.2%, which is above the metro median among 193 neighborhoods, helping underpin income consistency for stabilized assets. Median contract rents in the neighborhood sit near the top of national distributions, while the rent-to-income ratio indicates manageable affordability pressure relative to high-income local households.
Amenities are mixed: parks are a strength (top decile nationally by park density), and cafe density is competitive among metro peers, while grocery and pharmacy counts within the neighborhood are limited—considerations for marketing and resident services. These trade-offs are typical of suburban Peninsula locations where daily needs are often met within short drives rather than immediate blocks.
Within a 3-mile radius, demographics show a high-income renter pool and steady household growth over the past five years, with households projected to continue increasing through 2028 even as population trends may edge lower. This dynamic suggests demographic shifts that can expand the renter base and support occupancy. Elevated home values (top national percentile) indicate a high-cost ownership market, which generally sustains reliance on multifamily rentals and can support pricing power for competitive properties.
Construction vintage averages 1981 at the neighborhood scale. The subject property was built in 1972, which is older than the neighborhood average—an actionable point for value-add planning and capital programs targeting interiors, building systems, and curb appeal to enhance competitive positioning against newer stock.
Safety indicators for the neighborhood track near the national middle overall, based on WDSuite data, with property offense measures around the national median and a recent year-over-year decrease that compares favorably to national trends. This improvement suggests some easing in property-related incidents.
Violent offense metrics remain below the national safety percentiles, and recent change shows an uptick relative to national trends. Investors should factor this mixed signal into on-site security, lighting, and access-control planning, while noting that broader Peninsula context and commuter patterns typically moderate late-night activation compared with denser urban cores.
Proximity to major Peninsula employers underpins workforce housing demand and supports leasing durability, notably among technology, life sciences, and financial services tenants: Oracle, Franklin Resources, Visa, Gilead Sciences, and Robert Half International.
- Oracle — enterprise software (2.3 miles) — HQ
- Franklin Resources — asset management (2.5 miles) — HQ
- Visa — payments (3.7 miles) — HQ
- Gilead Sciences — biopharma (4.2 miles) — HQ
- Robert Half International — professional staffing (7.2 miles) — HQ
This 34-unit property at 2121 Valerga Dr offers exposure to a high-income Peninsula renter base with above-median neighborhood occupancy and a strong school draw. Elevated home values and top-tier household incomes in the surrounding 3-mile radius reinforce sustained renter reliance on multifamily housing, supporting lease-up and retention for well-maintained assets. According to CRE market data from WDSuite, the neighborhood’s renter concentration ranks in the upper national percentiles, indicating depth in the tenant pool.
Built in 1972—earlier than the neighborhood’s average vintage—the asset presents a clear value-add path through targeted renovations and system upgrades to compete against newer inventory. While amenities immediately within the neighborhood are selective, regional access to major employers across technology, life sciences, and finance supports durable demand. Forecasts show households growing even as population levels may soften, pointing to demographic shifts that can sustain occupancy and reduce volatility through cycles.
- Deep renter base and above-median neighborhood occupancy support income stability
- High-cost ownership market reinforces multifamily demand and pricing power
- 1972 vintage enables value-add through interior and systems upgrades
- Proximity to major employers (tech, life sciences, finance) supports leasing durability
- Risks: mixed safety trend signals and limited walkable daily-needs retail; plan for security and amenity enhancements