| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 70th | Fair |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1580 Southgate Ave, Daly City, CA, 94015, US |
| Region / Metro | Daly City |
| Year of Construction | 1987 |
| Units | 89 |
| Transaction Date | 1997-12-15 |
| Transaction Price | $1,350,000 |
| Buyer | MAAS COMMONS LLC |
| Seller | SERRA COMMONS LLC |
1580 Southgate Ave, Daly City Multifamily Investment
Neighborhood fundamentals point to durable renter demand supported by strong amenities and a high-cost ownership market, according to WDSuite’s CRE market data. Expect steady interest from tenants seeking proximity to Bay Area employers and services, with pricing power tempered by metro-wide occupancy trends.
The property sits in an Urban Core neighborhood that ranks 37 out of 193 within the San Francisco–San Mateo–Redwood City metro—top quartile among metro neighborhoods based on overall performance. Amenity access is a clear strength: cafes and restaurants score in the upper national percentiles, and grocery and pharmacy density are competitive, supporting day-to-day convenience and lease retention.
For context, neighborhood occupancy is measured for the neighborhood and not the property; it trends below the metro median, suggesting leasing strategies should prioritize differentiation and renewals. At the same time, the share of renter-occupied housing units in the neighborhood is elevated (above the national norm), indicating a deep tenant base and ongoing multifamily demand.
Within a 3-mile radius, recent years show modest population contraction but a slight increase in total households, with forecasts pointing to incremental population growth and a larger household count ahead. This pattern implies smaller average household sizes and a gradually expanding renter pool, supporting occupancy stability as new renters enter the market over time.
Ownership costs are high relative to incomes in this area (nationally high home values and value-to-income ratios), which tends to reinforce reliance on rental housing and supports pricing power for well-positioned assets. Median rents in the neighborhood are also high by national standards, while rent-to-income levels indicate manageable affordability pressure for many local households—helpful for retention and delinquency management. School rating averages are not available, and investors should underwrite education quality at the sub-neighborhood level if relevant to the target renter profile.
The asset’s 1987 construction is newer than the local average vintage (1974), which can be a competitive edge versus older stock; however, capital planning should still account for aging systems and targeted modernization to sustain positioning against recently renovated comparables.
Safety indicators are mixed. Compared with neighborhoods nationwide, this area sits below the national middle on overall safety measures, and within the metro it ranks 116 out of 193—below the metro median. That said, recent trends show year-over-year improvement in violent incidents, while property-related offenses have been more volatile. Investors should underwrite security measures and operating practices that mitigate property-crime exposure while acknowledging the improving trajectory in violent offense rates.
Nearby corporate offices provide a strong employment base that supports renter demand and retention, particularly for workforce and professional tenants. Key employers within commuting distance include Walmart Global eCommerce, Core-Mark Holding, SFO Airport Marriott Accounting Office, Celgene, and McKesson Ventures.
- Walmart Global eCommerce — corporate offices (4.3 miles)
- Core-Mark Holding — corporate offices (5.0 miles) — HQ
- Sfo Airport Marriott Accounting Office — corporate offices (7.5 miles)
- Celgene — corporate offices (7.8 miles)
- McKesson Ventures — corporate offices (8.8 miles)
This 1987-vintage Daly City asset benefits from a deep renter pool, strong amenity access, and proximity to major Bay Area employers. The neighborhood ranks in the metro’s top quartile, while elevated home values relative to incomes sustain reliance on rental housing. According to CRE market data from WDSuite, neighborhood occupancy sits below the metro median, so the investment case favors assets that can differentiate on renovations, unit mix, or operational execution to capture demand and drive renewals.
Forward-looking demographics within a 3-mile radius point to a gradual increase in households and solid income profiles, supporting tenant quality and rent collections. With median rents high by national standards but rent-to-income levels indicating manageable affordability pressure locally, the thesis centers on steady demand with careful lease management and selective capital improvements to maintain competitive positioning.
- High-cost ownership market supports rental demand and pricing power for well-positioned units
- Top-quartile metro neighborhood with strong amenities that aid retention
- 1987 vintage offers relative edge versus older stock, with targeted modernization upside
- Household growth and solid incomes within 3 miles underpin a durable tenant base
- Risk: neighborhood occupancy below metro median and mixed safety metrics require disciplined leasing and property-security strategies