| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 78th | Good |
| Amenities | 84th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 Poplar Ave, Millbrae, CA, 94030, US |
| Region / Metro | Millbrae |
| Year of Construction | 1981 |
| Units | 34 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
500 Poplar Ave Millbrae Multifamily in High-Cost Market
High ownership costs and top-tier neighborhood fundamentals support durable renter demand, according to WDSuite’s CRE market data.
Millbrae’s Urban Core setting offers investor-friendly livability drivers: dense everyday amenities and access to parks, childcare, and pharmacies test in the top quartile nationally, indicating convenience that helps leasing and retention. Neighborhood schools score among the nation’s top percentile and rank first among 193 metro neighborhoods, a signal that can bolster family-oriented rental demand.
Home values in the neighborhood are elevated relative to national norms, reinforcing renter reliance on multifamily housing and supporting pricing power in professionally managed assets. Neighborhood NOI per unit performance sits in the top quartile nationally, suggesting competitive income characteristics versus peer submarkets, while occupancy levels trend near the national midrange—pointing to steady, but not overheated, conditions.
A sizable share of housing units in the area are renter-occupied, indicating depth in the tenant base for a 34-unit asset. Within a 3-mile radius, incomes skew high and household sizes are gradually shifting smaller over time; combined with essentially flat population trends, this points to a stable, higher-earning renter pool that can sustain occupancy and rent collections.
The property’s 1981 vintage is newer than the neighborhood’s older average stock from the 1960s, which can enhance competitive positioning versus legacy assets; investors should still plan for modernization of systems and interiors to capture value-add upside where relevant.
Neighborhood safety indicators compare favorably to national norms, with overall crime measures testing above the national average for safety. Recent data also shows a sharp one-year decline in property offenses, improving day-to-day operating context for residents and managers.
Within the San Francisco–San Mateo–Redwood City metro, the neighborhood is competitive on safety relative to many peers, which can support tenant retention and reduce operational friction over time. As always, investors should underwrite to property-level security measures and management practices rather than relying solely on area trends.
Proximity to airport-related services, e-commerce operations, and regional headquarters creates a broad white-collar and service employment base that supports multifamily renter demand and commute convenience for residents.
- Sfo Airport Marriott Accounting Office — corporate offices (1.45 miles)
- Walmart Global eCommerce HQ — e-commerce operations (2.22 miles)
- Core-Mark Holding — distribution HQ (4.53 miles) — HQ
- Gilead Sciences — biopharma HQ (6.83 miles) — HQ
- Franklin Resources — asset management HQ (7.12 miles) — HQ
500 Poplar Ave benefits from high-cost ownership dynamics and top-tier neighborhood amenities that reinforce multifamily demand. Based on CRE market data from WDSuite, neighborhood NOI per unit trends in the top quartile nationally and occupancy sits near the national midrange, indicating income competitiveness with room for operational upside. Elevated home values and strong household incomes support lease retention and pricing power for well-managed assets.
The 1981 vintage is newer than much of the surrounding 1960s-era stock, positioning the property to outperform older competitors while still offering potential value-add through targeted modernization. Within a 3-mile radius, household counts are set to rise even as household sizes trend smaller, expanding the renter pool and supporting stable demand over the medium term.
- High-cost ownership market sustains renter demand and supports pricing power
- Top-quartile neighborhood NOI per unit and midrange occupancy point to durable income
- 1981 vintage offers competitive positioning with value-add modernization potential
- Strong employment access and top-tier schools enhance leasing and retention
- Risks: occupancy off prior highs and flat population warrant disciplined underwriting