| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 69th | Fair |
| Amenities | 61st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 King Dr, Daly City, CA, 94015, US |
| Region / Metro | Daly City |
| Year of Construction | 1974 |
| Units | 85 |
| Transaction Date | 2023-05-31 |
| Transaction Price | $65,893,000 |
| Buyer | DALY CITY KING LP |
| Seller | AVALONBAY COMMUNITIES INC |
500 King Dr, Daly City CA Multifamily Investment
Stabilized renter demand in an Urban Core neighborhood with strong metro connectivity and high ownership costs supports leasing durability, according to WDSuite’s CRE market data.
Located in Daly City within the San Francisco–San Mateo–Redwood City metro, the property benefits from Urban Core fundamentals: dense amenities, solid school options, and access to regional employment. Neighborhood rent levels are elevated versus national norms, while the neighborhood s occupancy is strong at roughly 97.5% (for the neighborhood, not the property), signaling durable demand and limited turnover risk based on CRE market data from WDSuite.
Amenity coverage is a relative strength. Caf e9 and restaurant density ranks competitive for the metro and sits in the top decile nationally, while grocery access is also above national averages. Average school ratings are above national norms (around 4.0/5 on average), which can aid retention for family renters. These livability factors, combined with proximity to San Francisco and the Peninsula s job centers, underpin steady leasing interest.
Tenure dynamics indicate a measured renter base. At the neighborhood level, the share of housing units that are renter-occupied is moderate, suggesting demand is driven more by proximity to jobs and the high-cost ownership market than by transient turnover. Elevated home values and a high value-to-income ratio reinforce reliance on multifamily housing, supporting pricing power while requiring attentive lease management to monitor affordability pressure.
Within a 3-mile radius, demographics show a larger, higher-income tenant pool with households increasing over the last five years and projected to continue rising by the next publication window. Household sizes have been trending smaller, which can support continued demand for multifamily units and sustain occupancy stability even if population growth is modest. For this 1974-vintage asset, the slightly older-than-average vintage versus nearby stock (1976 neighborhood average) points to potential value-add through systems upgrades or selective renovation to remain competitive with newer product.
Neighborhood safety indicators sit around the metro middle, with a mixed but generally stable profile versus national benchmarks. Property offense measures are near the national midpoint, while violent offense levels track slightly below the national midpoint. Recent data indicate some year-over-year volatility in violent incidents; investors should underwrite with standard operating assumptions and monitor submarket trends rather than block-level shifts.
Within the San Francisco–San Mateo–Redwood City metro (193 neighborhoods), this area does not screen as top-quartile on safety, but it remains broadly comparable to many inner-ring communities. As always, on-the-ground diligence and management practices can materially influence outcomes at the property level.
Proximity to established employers across e-commerce, distribution, hospitality services, biotech, and healthcare venture supports renter demand and commute convenience for a diverse workforce. The following nearby employers anchor daily traffic and help sustain leasing.
- Walmart Global eCommerce HQ e-commerce operations (2.5 miles)
- Core-Mark Holding distribution (4.0 miles) HQ
- Sfo Airport Marriott Accounting Office hospitality services (5.8 miles)
- Celgene biotech (8.5 miles)
- McKesson Ventures healthcare venture (9.7 miles)
500 King Dr offers scale in a high-cost ownership market where renter demand is supported by strong neighborhood occupancy and amenity depth. Elevated home values and above-average incomes in the area sustain a deep tenant base, while neighborhood occupancy around 97.5% indicates resilient leasing conditions. According to CRE market data from WDSuite, this Urban Core location compares favorably to national benchmarks on amenities and schools, supporting rent durability.
Built in 1974, the asset may benefit from targeted capital improvements to maintain competitiveness against newer stock and to capture value-add upside. Within a 3-mile radius, households have increased in recent years with projections indicating further growth, implying a larger renter pool and support for occupancy stability over the medium term. Key risks include monitoring rent-to-income dynamics and standardizing safety-focused operations given mixed but middle-of-the-pack crime indicators.
- High neighborhood occupancy supports leasing stability
- Urban Core location with strong amenity access and school ratings
- High-cost ownership market reinforces multifamily demand
- 1974 vintage offers value-add potential via selective upgrades
- Risks: watch rent-to-income pressure and manage for safety variability