| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 82nd | Best |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1500 Laurel St, San Carlos, CA, 94070, US |
| Region / Metro | San Carlos |
| Year of Construction | 1999 |
| Units | 34 |
| Transaction Date | 2008-06-09 |
| Transaction Price | $4,550,000 |
| Buyer | 926 WOODSIDE LLC |
| Seller | DJEM LAUREL THEATER LLC |
1500 Laurel St San Carlos 34-Unit Multifamily Investment
In a high-income, owner-leaning neighborhood where elevated ownership costs sustain rental demand, neighborhood occupancy trends in the low-to-mid 90% range support stable leasing, according to WDSuite’s CRE market data.
Located in San Carlos within San Mateo County, the asset sits in a top-performing pocket of the San Francisco–San Mateo–Redwood City metro. The neighborhood holds an A rating and ranks 15 out of 193 metro neighborhoods, placing it in the top quartile nationally for overall livability and investment appeal. For investors, this typically points to resilient renter demand and stronger retention dynamics versus many Bay Area submarkets.
Daily-life amenities are a clear strength: restaurants and cafes index in the high 90th percentiles nationally, and parks, groceries, and pharmacies are also well represented. School quality is a standout, with the neighborhood’s average school rating at the top of the metro (ranked 1 of 193) and in the highest national percentile—a factor that often supports long-term leasing stability for family-oriented renters.
The renter-occupied share in the immediate neighborhood is about 30.7%, indicating an owner-heavy area and a somewhat narrower immediate tenant pool. However, within a 3-mile radius, renter concentration is closer to parity with owners, creating a deeper demand base for multifamily. High median household incomes (upper-tier nationally) and elevated home values (top of the metro and at the highest national percentile) frame a high-cost ownership market, which can reinforce reliance on rental housing and support pricing power for well-positioned properties.
Demographics aggregated within a 3-mile radius show households have edged higher in recent years and are projected to grow further even as population trends remain flat to slightly negative. This implies smaller average household sizes and a larger number of households—conditions that can expand the renter pool and support occupancy stability. The property’s 1999 construction is newer than the neighborhood average vintage from the early 1980s, suggesting competitive positioning against older stock while still leaving room for targeted modernization to drive rent premiums and operating efficiency.
Safety signals are generally favorable in a national context: the neighborhood sits in the upper third nationwide for overall safety, and recent trends show meaningful improvement. According to WDSuite’s data, estimated property offenses declined sharply year over year (among the stronger improvements nationally), while violent offense rates track better than the national midpoint and are improving. As with any urban core setting, performance can vary by micro-location, but the broader pattern supports stable residency and leasing.
The property benefits from proximity to major employers that underpin a deep, well-compensated renter base and shorten commutes, supporting retention. Nearby anchors include Oracle, Oracle Conference Center, Franklin Resources, Facebook MPK 22GW-36, and Visa.
- Oracle — enterprise software (2.5 miles) — HQ
- Oracle Conference Center — corporate event facility (2.7 miles)
- Franklin Resources — asset management (4.1 miles) — HQ
- Facebook MPK 22GW-36 — social media offices (4.6 miles)
- Visa — payments technology (4.6 miles) — HQ
1500 Laurel St offers a 34-unit footprint in a high-income, supply-constrained corridor where elevated ownership costs and strong neighborhood amenities underpin durable renter demand. The area’s low-to-mid 90% neighborhood occupancy and top-tier school and amenity profile support retention, while the property’s 1999 vintage is newer than the neighborhood’s early-1980s average—positioning it competitively versus older stock with targeted value-add potential. According to WDSuite’s commercial real estate analysis, rent burdens trend manageable relative to incomes locally, which can aid renewal rates and pricing discipline.
Within a 3-mile radius, households have increased and are projected to grow further even as population edges down, implying smaller household sizes and a broader tenant base over time. Nearby blue-chip employers deepen the pool of well-compensated renters, supporting occupancy stability across cycles. Investors should still underwrite to an owner-heavy immediate neighborhood and monitor macro demand shifts, but fundamentals point to resilient performance for well-operated assets.
- High-cost ownership market supports sustained rental demand and pricing power
- 1999 vintage out-positions older neighborhood stock with value-add upside
- Deep employer base nearby supports occupancy stability and retention
- Risk: owner-heavy immediate area and flat population trends require disciplined leasing strategy