| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Good |
| Demographics | 90th | Best |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 950 Main St, Redwood City, CA, 94063, US |
| Region / Metro | Redwood City |
| Year of Construction | 1998 |
| Units | 81 |
| Transaction Date | 2016-06-30 |
| Transaction Price | $16,675,000 |
| Buyer | CITY CENTER PLAZA LP |
| Seller | MEZES COURT ASSOCIATES |
950 Main St, Redwood City Multifamily Investment
Amenity-rich Urban Core location with renter demand and occupancy above the metro median, according to WDSuite’s CRE market data, positioning the asset for stable leasing in a high-income Peninsula submarket.
This Urban Core neighborhood ranks competitive among San Francisco–San Mateo–Redwood City metro neighborhoods for overall performance (8 of 193) with strong amenity access. Grocers, restaurants, and pharmacies score in the top national percentiles, reinforcing day-to-day convenience that supports leasing and renewals. Neighborhood occupancy trends are above the metro median, a constructive signal for cash flow stability relative to peer submarkets based on CRE market data from WDSuite.
The property’s 1998 construction is newer than the neighborhood’s average vintage (1971). Newer stock typically competes well against older buildings; investors should still plan for system updates or targeted renovations to maintain pricing power versus new deliveries.
Renter-occupied concentration in the neighborhood is very high, indicating a deep tenant base for multifamily. Combined with a median household income level that sits in a high national percentile, the local rent-to-income profile (neighborhood-level) suggests manageable affordability pressure compared with many coastal markets, which can support lease retention and steady absorption.
Within a 3-mile radius, demographics show recent softness in population but an expected increase in household counts alongside smaller average household sizes. For investors, this points to a stable-to-expanding renter pool over the forecast period, supporting occupancy and renewal fundamentals even as household composition shifts.
Safety indicators for the neighborhood are weaker than both the metro median and national benchmarks, with national safety percentiles in the lower ranges. However, recent data show property offenses trending down year over year, which is a modest positive. As always, investors should underwrite security measures and operating practices appropriate for an Urban Core location and compare trends to nearby Redwood City submarkets.
Proximity to large Bay Area employers underpins demand from professionals seeking commute convenience. Nearby anchors include Meta/Facebook offices, Oracle’s headquarters and conference facilities, and Robert Half’s headquarters, which together support leasing depth and retention.
- Facebook MPK 22GW-36 — social media offices (3.3 miles)
- Oracle — enterprise software (3.7 miles) — HQ
- Oracle Conference Center — enterprise software events (3.9 miles)
- Facebook — social media (4.2 miles) — HQ
- Robert Half International — staffing & recruiting (4.4 miles) — HQ
950 Main St offers a Peninsula location with amenity density, high-income households, and above-median neighborhood occupancy, supporting durable renter demand. The 1998 vintage provides a competitive position versus older area stock, with potential to create value through selective modernization and operating improvements. According to CRE market data from WDSuite, the neighborhood’s renter-occupied concentration and top-tier amenity access help reinforce leasing stability despite recent macro softness in population.
Key considerations include underwriting for Urban Core safety dynamics and aligning renewal strategies with local affordability signals. The employment base within a short drive — spanning enterprise software and social media to professional services — adds depth to the tenant pool and can support retention across cycles.
- Amenity-rich Urban Core with above-median neighborhood occupancy supporting cash flow stability.
- 1998 construction competes well versus older stock; targeted upgrades can enhance positioning.
- High-income renter base and strong proximity to major employers bolster leasing depth.
- Forecast household growth within 3 miles and smaller household sizes support renter pool expansion.
- Risks: below-median safety indicators and demographic softness; mitigate via security, unit finishes, and renewal strategy.