| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 88th | Best |
| Demographics | 62nd | Fair |
| Amenities | 58th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 670 Hickey Blvd, Pacifica, CA, 94044, US |
| Region / Metro | Pacifica |
| Year of Construction | 1977 |
| Units | 104 |
| Transaction Date | 2002-09-20 |
| Transaction Price | $18,200,000 |
| Buyer | AIMCO PACIFICA PARK APARTMENTS LLC |
| Seller | PACIFICA PARK APARTMENTS LLC |
670 Hickey Blvd Pacifica Multifamily Investment
Strong neighborhood-level occupancy at 97.8% and proximity to major Bay Area employers support rental demand in this coastal San Mateo County market. According to WDSuite's CRE market data, the area ranks in the top quartile among 193 metro neighborhoods for housing metrics.
This 104-unit property in Pacifica benefits from solid neighborhood fundamentals, with occupancy rates of 97.8% ranking 14th among 193 San Francisco metro neighborhoods. The area demonstrates rental market stability with median contract rents of $2,866 and strong five-year rent growth of 29.4%, positioning above metro averages for investor returns.
Built in 1977, the property predates the neighborhood's average construction year of 1998, presenting potential value-add opportunities through targeted renovations and unit improvements. Demographics within a 3-mile radius show a mature, high-income tenant base with median household incomes of $134,801 and significant household growth projected through 2028, supporting long-term rental demand.
The neighborhood scores in the 88th national percentile for housing metrics and ranks competitively among San Francisco metro areas for amenities. Local infrastructure includes strong grocery access with 2.87 stores per square mile and adequate childcare facilities, though restaurant and cafe density remains limited compared to urban cores.
Home values averaging $1.27 million create a substantial ownership barrier, with value-to-income ratios in the 96th percentile nationally. This pricing dynamic supports rental market participation, as high purchase costs keep qualified households in the rental pool longer than in more affordable markets.
The neighborhood presents mixed safety indicators that warrant monitoring. Property crime rates of 289 incidents per 100,000 residents rank near the middle of San Francisco metro neighborhoods, while violent crime rates remain relatively low at 32 incidents per 100,000 residents.
Recent crime trends show concerning increases, with both property and violent offense rates rising significantly year-over-year. These trends rank poorly compared to other metro neighborhoods, suggesting investors should factor security considerations into operational planning and tenant retention strategies.
The property benefits from proximity to major Bay Area employment centers, supporting workforce housing demand from corporate employees commuting throughout the region.
- Walmart Global eCommerce HQ — technology & retail operations (3.7 miles)
- Core-Mark Holding — distribution & logistics (5.2 miles) — HQ
- Sfo Airport Marriott Accounting Office — hospitality services (7.0 miles)
- Celgene — biotechnology (8.8 miles)
- McKesson — healthcare distribution (9.9 miles) — HQ
This Pacifica multifamily asset offers exposure to the high-barrier Bay Area rental market with neighborhood occupancy rates of 97.8% ranking in the top quartile among metro areas. The 1977 construction year positions the property for value-add strategies through unit renovations and common area improvements, while strong demographic fundamentals within a 3-mile radius support long-term tenant demand.
Household growth projections show a 33% increase in total households by 2028, expanding the renter pool significantly. Median home values exceeding $1.27 million create substantial ownership barriers, keeping qualified renters in the market longer and supporting occupancy stability according to multifamily property research trends in high-cost coastal markets.
- Strong occupancy fundamentals with 97.8% neighborhood rates ranking top quartile metro-wide
- Value-add potential from 1977 vintage in market with newer average construction
- High ownership barriers support rental demand with $1.27M median home values
- Proximity to major Bay Area employment centers within 10-mile radius
- Risk consideration: Recent crime trend increases require operational attention