| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 90th | Best |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 875 Walnut St, Redwood City, CA, 94063, US |
| Region / Metro | Redwood City |
| Year of Construction | 1978 |
| Units | 59 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
875 Walnut St Redwood City Multifamily Investment
The property sits in an A+ rated neighborhood ranking 8th among 193 metro neighborhoods, with 91% rental occupancy and median rents of $3,300 supporting strong tenant demand fundamentals.
This 59-unit property built in 1978 sits in an A+ rated neighborhood that ranks 8th among 193 metro neighborhoods, placing it in the top 5% regionally. The area maintains strong rental fundamentals with 91% of housing units renter-occupied, creating substantial depth in the tenant pool. Neighborhood occupancy rates of 93% reflect stable demand, while median contract rents of $3,300 position the area in the 99th percentile nationally.
Demographics within a 3-mile radius show household incomes averaging $230,000, with 37% of households earning above $200,000 annually. The area benefits from exceptional amenity density, ranking in the 96th percentile nationally with 76 restaurants per square mile and 17 grocery stores per square mile. This urban core location provides tenants with walkable access to daily needs, supporting retention and lease renewals.
The property's 1978 construction year aligns with the neighborhood average, indicating potential value-add opportunities through unit renovations and common area improvements. With 48% of area households renting rather than owning, elevated home values in the broader market continue to reinforce rental demand and support occupancy stability for multifamily properties.
Crime metrics show the neighborhood ranking 174th among 193 metro neighborhoods, placing it in the 29th percentile nationally for safety. Property crime rates are estimated at 2,246 incidents per 100,000 residents, though this figure has declined 6% over the past year. Violent crime rates are lower at 199 incidents per 100,000 residents, though this metric increased 13% year-over-year.
Investors should factor these safety considerations into property management strategies, including security measures and tenant screening protocols. The urban core location provides benefits in terms of foot traffic and activity, which can contribute to natural surveillance, though professional security assessments may be warranted for comprehensive risk evaluation.
The property benefits from proximity to major Silicon Valley employers, providing workforce housing for technology and corporate professionals within commuting distance of key job centers.
- Facebook MPK 22GW-36 — technology offices (3.2 miles)
- Oracle — enterprise software (3.7 miles) — HQ
- Oracle Conference Center — corporate facilities (3.9 miles)
- Facebook — technology (4.1 miles) — HQ
- Robert Half International — staffing services (4.4 miles) — HQ
The property occupies an exceptionally strong rental market position, with neighborhood fundamentals ranking in the top 5% regionally and 91% rental occupancy creating substantial tenant pool depth. According to commercial real estate analysis from WDSuite, the area's $25,585 average NOI per unit ranks 8th among metro neighborhoods, reflecting strong revenue generation potential. The 1978 construction vintage presents value-add opportunities through strategic renovations while maintaining cost basis advantages.
Demographics within 3 miles show household income growth of 42% over five years, with projections indicating continued expansion in high-income renter households. Proximity to major technology employers including Oracle and Facebook headquarters provides employment stability for the tenant base, while exceptional amenity density supports retention rates in this urban core location.
- A+ neighborhood rating ranking 8th among 193 metro areas with 91% rental occupancy
- High-income demographics with 37% of households earning above $200,000 annually
- Value-add potential through renovations of 1978-vintage units
- Proximity to major Silicon Valley employers supporting tenant stability
- Crime metrics require attention with property ranking 174th of 193 neighborhoods for safety