| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 30th | Poor |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 348 4th Ave, Redwood City, CA, 94063, US |
| Region / Metro | Redwood City |
| Year of Construction | 1972 |
| Units | 22 |
| Transaction Date | 2006-09-01 |
| Transaction Price | $1,300,000 |
| Buyer | CAPELLA MOWRY LLC |
| Seller | FONTE APARTMENTS LLC |
348 4th Ave Redwood City Multifamily Investment
High-cost ownership dynamics and proximity to major Peninsula employers support durable renter demand, according to WDSuite’s CRE market data. The core takeaway for investors is steady leasing potential with selective value-add upside in a supply-constrained Urban Core pocket.
Situated in Redwood City’s Urban Core, the property benefits from a dense amenity base. Neighborhood amenities test strong versus national peers, with grocery, restaurant, and pharmacy access performing in the mid-90s percentiles nationwide, reinforcing renter convenience and day-to-day livability that supports leasing stability.
Ownership costs in this neighborhood are elevated relative to most U.S. areas (home values rank among the highest nationally), which tends to sustain multifamily reliance and pricing power over time. Neighborhood renter-occupied share is competitive among San Francisco–San Mateo–Redwood City neighborhoods (rank 49 of 193), indicating a deep tenant base for smaller assets. At the same time, neighborhood occupancy has eased versus five years ago and sits below the metro middle of the pack, so operators should prioritize retention and renewal management.
Vintage context matters: the submarket’s average construction year skews older (1963). Built in 1972, this asset is newer than the neighborhood norm, which can be advantageous against older stock; however, systems may still be at ages where selective modernization (exteriors, common areas, energy efficiency) can unlock rent lift without overcapitalizing.
Demographic indicators aggregated within a 3-mile radius show modest population softening alongside smaller average household sizes over the forecast period, while median incomes remain high and are projected to rise. For investors, this points to a stable-to-upward income profile supporting market rents, but with an emphasis on floorplan functionality and management practices that sustain occupancy amid shifting household composition.
Neighborhood safety trends are mixed but broadly sit near national midpoints. Property offense levels benchmark close to the U.S. average (around the 50th percentile nationally), and recent year data show property offenses trending down, which is constructive for long-term operations. Violent offense indicators track somewhat below the national midpoint and ticked up slightly in the latest year, warranting routine monitoring and community engagement.
Within the San Francisco–San Mateo–Redwood City metro, the neighborhood’s overall crime rank sits near the middle of 193 neighborhoods, suggesting neither an outlier risk nor a clear advantage versus metro peers. Investors should underwrite typical security measures for an Urban Core asset and continue to track trend direction rather than any single-year reading.
The employment base nearby is anchored by large technology and professional services employers, supporting commuter convenience and a steady pool of renters. The list below highlights adjacent nodes most likely to influence tenant demand and retention.
- Facebook MPK 22GW-36 — technology offices (2.2 miles)
- Facebook — technology (3.1 miles) — HQ
- Robert Half International — professional services (3.5 miles) — HQ
- Hewlett Packard Enterprise — technology (5.1 miles) — HQ
- HP — technology (5.1 miles) — HQ
348 4th Ave combines Peninsula location fundamentals with an amenity-rich Urban Core setting that supports renter convenience and lease retention. Elevated home values in the neighborhood point to a high-cost ownership market, reinforcing long-run reliance on multifamily. According to CRE market data from WDSuite, neighborhood renter concentration is competitive within the metro, while occupancy has softened versus prior years—placing a premium on hands-on renewal strategies and product differentiation.
Constructed in 1972 across 22 units (average ~565 sf), the asset is newer than the neighborhood’s older housing stock, offering a practical platform for targeted renovations and operational upgrades. Nearby blue-chip employers broaden the tenant base, while rising household incomes within a 3-mile radius support achievable rents. Key underwriting considerations include managing affordability pressure (rent-to-income around 30%) and staying agile if population trends remain flat to slightly negative.
- High-cost ownership market supports renter reliance and pricing power over time
- Renter concentration competitive within the metro, aiding demand depth
- 1972 vintage is newer than neighborhood average, enabling selective value-add
- Proximity to major tech and professional services employers supports leasing stability
- Risks: softer neighborhood occupancy and affordability pressure require active management