| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 85th | Best |
| Amenities | 45th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1431 Beach Park Blvd, Foster City, CA, 94404, US |
| Region / Metro | Foster City |
| Year of Construction | 1972 |
| Units | 30 |
| Transaction Date | 2005-01-23 |
| Transaction Price | $4,749,000 |
| Buyer | MALEKSALEHI MOOSA |
| Seller | SPONHOLZ RICHARD E |
1431 Beach Park Blvd Foster City Multifamily Opportunity
Stabilized neighborhood occupancy and a deep, high-income renter base point to durable cash flow potential, according to WDSuite’s commercial real estate analysis. The high-cost ownership market in San Mateo County supports sustained renter demand and pricing power for well-managed assets.
Located in Foster City within the San Francisco–San Mateo–Redwood City metro, the property sits in a residential pocket with strong parks access and limited immediate retail, favoring a quieter setting near the lagoon and trail network. Neighborhood schools are highly rated, with the area ranked 1st among 193 metro neighborhoods and in the top quartile nationally for average school quality, a factor that supports family-oriented renter retention and longer tenancy cycles.
From an investor lens, neighborhood occupancy is 96.3% and has edged up over the past five years, placing the area above the metro median (rank 37 of 193), based on CRE market data from WDSuite. The share of housing units that are renter-occupied is about 46% locally, indicating a sizable tenant pool and consistent leasing velocity for multifamily properties, particularly for well-maintained units.
Affordability dynamics favor rentals: median home values are elevated versus national norms, while local rent-to-income levels sit at a manageable range, supporting lease retention and measured rent growth. With neighborhood restaurants performing near the upper half of metro peers and abundant parks (top national percentile), residents have lifestyle convenience without heavy commercial density directly on the block.
Demographic statistics aggregated within a 3-mile radius show household counts are projected to increase even as population trends flatten, driven by smaller average household sizes. This creates a larger household base and can expand the renter pool, supporting occupancy stability for well-positioned assets.
Safety indicators benchmark around national averages overall, with violent incidents comparatively lower than many neighborhoods nationwide (higher national safety percentile), according to WDSuite. Property crime shows a recent year-over-year improvement, while violent offense trends have been more mixed; investors should emphasize standard security measures and lighting to support resident confidence and retention.
Within the metro context, the neighborhood reads as competitive rather than exceptional on safety. For underwriting, the takeaway is a generally stable environment that benefits from daytime activity tied to nearby employers and schools, without evidence of elevated risk at the neighborhood scale.
Proximity to a diversified employment base supports leasing depth and commute convenience, notably in payments, biotech, enterprise software, and asset management. The following nearby employers underpin weekday demand and can aid retention for residents prioritizing short commutes.
- Visa — payments (1.5 miles) — HQ
- Gilead Sciences — biotech (1.9 miles) — HQ
- Oracle Conference Center — enterprise software offices (2.2 miles)
- Oracle — enterprise software (2.2 miles) — HQ
- Franklin Resources — asset management (2.7 miles) — HQ
Built in 1972, this 30-unit asset offers potential to capture durable demand in a high-income, school-strong neighborhood where renter-occupied housing is substantial and occupancy remains above the metro median. Elevated home values across San Mateo County reinforce reliance on multifamily housing, while rent-to-income levels suggest room for measured rent growth and solid lease retention, based on CRE market data from WDSuite.
Vintage creates a straightforward playbook: targeted exterior/interior upgrades and systems modernization can enhance competitiveness against newer stock, particularly given strong parks access and proximity to blue-chip employers. Demographic trends within a 3-mile radius point to increasing household counts despite flat population, expanding the practical tenant base and supporting occupancy stability.
- Occupancy above metro median with a sizable renter-occupied housing base supports steady leasing
- High-cost ownership market reinforces multifamily demand and pricing power potential
- 1972 vintage presents value-add and systems-upgrade upside versus newer competitive set
- Household growth within 3 miles, driven by smaller household sizes, expands the tenant base
- Risks: premium rent environment and aging systems require disciplined capex and lease management