| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 48th | Poor |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6423 Mission St, Daly City, CA, 94014, US |
| Region / Metro | Daly City |
| Year of Construction | 2010 |
| Units | 95 |
| Transaction Date | 2011-09-20 |
| Transaction Price | $39,520,000 |
| Buyer | Equity Residential |
| Seller | Oliver McMillan |
6423 Mission St Daly City 95-Unit Multifamily
Newer construction relative to the neighborhood s older housing stock supports competitive positioning and renter appeal, based on CRE market data from WDSuite.
Located in Daly City within the San Francisco San Mateo Redwood City metro, the neighborhood rates above the metro median (rank 80 of 193) with strong Urban Core fundamentals. Grocery, dining, and daily-needs access score in the top quartile nationally, with grocery and restaurants particularly dense relative to U.S. peers. These amenity dynamics can support resident retention and reduce turnover risk for multifamily assets.
The area s housing stock skews older (average vintage around the mid-1960s), which positions a 2010-built property as comparatively newer inventory. Newer vintage typically competes well against legacy buildings on finishes and systems, though periodic replacements and modernization should still be part of capital planning over a long hold.
Neighborhood renter-occupied share is roughly half of housing units, indicating a meaningful tenant base and depth of demand. According to WDSuite s commercial real estate analysis, neighborhood occupancy trends sit below national midpoints, so proactive leasing and asset management remain important to maintain stability at the property level.
Home values track in the higher national percentiles, reflecting a high-cost ownership market that tends to reinforce reliance on multifamily rentals. Rent-to-income metrics for the neighborhood sit in a range that supports lease retention, with pricing power tied to asset quality and amenity access rather than outsized concessions.
Within a 3-mile radius, demographic statistics show households holding roughly steady recently with a projected increase in households over the next five years. Even as average household size trends lower, this shift can expand the renter pool and support occupancy stability for well-located, professionally managed assets.
Safety metrics for the neighborhood sit below the national midpoint overall, indicating moderate exposure compared with neighborhoods nationwide. However, year-over-year trends show improvement, with both violent and property offense rates declining, according to CRE market data from WDSuite. For multifamily operators, standard security measures and resident engagement should be sufficient to support leasing and retention while monitoring ongoing trends.
Nearby corporate offices provide a diversified white-collar employment base that supports renter demand and commute convenience, including Core-Mark, Walmart Global eCommerce, Celgene, and McKesson (plus McKesson Ventures).
- Core-Mark Holding corporate offices (5.0 miles) HQ
- Walmart Global eCommerce HQ corporate offices (5.7 miles)
- Celgene corporate offices (5.8 miles)
- McKesson corporate offices (6.8 miles) HQ
- McKesson Ventures corporate offices (6.8 miles)
Built in 2010 and totaling 95 units, 6423 Mission St offers a newer-vintage multifamily option in an Urban Core neighborhood dominated by older housing. Strong amenity access and a meaningful share of renter-occupied housing support demand depth and leasing durability, while elevated ownership costs in the area tend to sustain renter reliance on multifamily. According to CRE market data from WDSuite, neighborhood occupancy sits below broader benchmarks, suggesting that ongoing asset quality, targeted marketing, and professional operations are key to maintaining performance.
Forward-looking demographics within a 3-mile radius indicate a projected increase in households even as average household size trends smaller, which can expand the renter pool and support stabilization for well-managed assets. The property s relative youth versus neighborhood stock provides a competitive edge today, with routine systems updates and selective enhancements offering potential to protect NOI and pricing power over a long-term hold.
- Newer 2010 construction competes well against older neighborhood inventory
- Dense grocery, dining, and daily-needs amenities support retention
- High-cost ownership market reinforces multifamily demand and leasing depth
- 3-mile household growth and smaller household sizes expand the renter pool
- Risk: neighborhood occupancy below broader benchmarks requires active lease management