| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 48th | Poor |
| Amenities | 95th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 99 School St, Daly City, CA, 94014, US |
| Region / Metro | Daly City |
| Year of Construction | 1998 |
| Units | 47 |
| Transaction Date | 2012-04-05 |
| Transaction Price | $5,397,000 |
| Buyer | MERCY HOUSING CALIFORNIA 52 |
| Seller | MERCY HOUSING CALIFORNIA VIII |
99 School St Daly City Multifamily Opportunity
Positioned in San Mateo County’s urban core, this 1998 asset benefits from durable renter demand supported by a high-cost ownership market and strong amenity access, according to WDSuite’s CRE market data. Investor focus centers on stable tenancy potential with room for value-add efficiencies.
Located in Daly City’s Urban Core, the property sits amid one of the metro’s denser amenity clusters. Grocery access ranks competitive among 193 San Francisco–San Mateo neighborhoods and the area scores in the top national percentiles for restaurants, pharmacies, and parks, supporting daily convenience and leasing appeal for workforce renters.
Neighborhood housing stock skews older (average vintage 1966), giving a 1998 build relative competitiveness versus much of the nearby inventory. For investors, this typically translates into lower immediate capital needs than pre-1980 assets, while still leaving room for targeted modernization to lift rents and retention.
The neighborhood’s renter-occupied share is elevated versus national norms (high national percentile), indicating a deep tenant base that supports multifamily absorption and renewals. By contrast, neighborhood occupancy is below the metro median (ranked in the lower half among 193 neighborhoods), suggesting leasing still requires active management — but strong local amenities and transit connectivity can help sustain traffic.
Within a 3-mile radius, demographics indicate smaller household sizes over time and a modest rise in household counts even as population trends soften. Combined with elevated home values relative to incomes at the neighborhood level, this dynamic tends to reinforce reliance on multifamily housing, supporting rent rolls and pricing discipline for well-positioned assets. These takeaways are grounded in commercial real estate analysis from WDSuite.
Safety conditions are mixed when viewed against regional and national benchmarks. The neighborhood’s crime rank is in the lower half among 193 metro neighborhoods, indicating safety is below the metro average, and national comparisons place the area below the national median. However, recent year-over-year trends point to declines in both property and violent offense rates, a constructive directional signal that investors can monitor over subsequent periods.
For underwriting, this suggests prudent security measures and resident engagement may be warranted, while the improving trend can support retention and leasing stability if sustained. Use local comp sets and recent incident data to calibrate assumptions.
Proximity to established Bay Area employers supports a broad commuter tenant base and can aid lease retention. Notable nearby employers include Core-Mark, Walmart Global eCommerce, Celgene, McKesson Ventures, and McKesson.
- Core-Mark Holding — corporate offices (4.9 miles) — HQ
- Walmart Global eCommerce HQ — corporate offices (5.1 miles)
- Celgene — corporate offices (6.5 miles)
- McKesson Ventures — corporate offices (7.4 miles)
- McKesson — corporate offices (7.5 miles) — HQ
This 47-unit, 1998-vintage property offers competitive positioning in a neighborhood where much of the housing stock predates 1970, giving an edge on systems and finishes while preserving value-add opportunities through targeted upgrades. Elevated neighborhood home values relative to incomes reinforce renter reliance on multifamily, and amenity density supports daily convenience that can translate into steady leasing. Based on CRE market data from WDSuite, the broader area exhibits an above-average renter concentration and recent improvements in offense trends, though overall safety remains below metro averages.
Near-term underwriting should account for neighborhood occupancy sitting below the metro median and school ratings that trail national norms, balanced by proximity to large employment centers and projected growth in households within a 3-mile radius. Execution emphasizing unit modernization, expense control, and tenant experience can position the asset to capture demand while managing retention risk.
- 1998 vintage outperforms older local stock, with targeted upgrades offering value-add upside
- High-cost ownership environment supports a durable renter base and pricing power
- Dense amenity and job access underpin leasing traffic and retention potential
- Directional safety improvements, but overall safety and school quality remain underwriting risks
- Neighborhood occupancy below metro median requires active leasing and resident experience focus