| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 84th | Best |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 520 Elm St, San Carlos, CA, 94070, US |
| Region / Metro | San Carlos |
| Year of Construction | 1972 |
| Units | 25 |
| Transaction Date | 2018-10-30 |
| Transaction Price | $14,200,000 |
| Buyer | BUILDING BLOCK PROPERTIES LLC |
| Seller | MARTIN ROBERT C |
520 Elm St San Carlos Urban Core Multifamily
Neighborhood occupancy sits in the mid-90s with a high renter concentration, supporting stable leasing conditions according to WDSuite’s CRE market data. Strong amenity density and proximity to major employers underpin durable renter demand.
San Carlos’s Urban Core setting offers investors a dense amenity base and commuter convenience. Cafes, restaurants, groceries, parks, and pharmacies rank in the top quartile nationally, and the neighborhood places competitive among 193 metro neighborhoods for amenity access — a meaningful driver of leasing velocity and retention.
The neighborhood 64.3% share of renter-occupied housing units indicates a deep tenant base. Neighborhood occupancy is 94.9%, which is competitive among San Francisco–San Mateo–Redwood City neighborhoods and sits around the 70th percentile nationally — a constructive backdrop for revenue stability and renewal capture, based on CRE market data from WDSuite.
Vintage matters: the property was built in 1972, while the area s average construction year trends newer. An older vintage can warrant capital planning for systems and interiors, but it also creates clear value-add pathways to enhance rent positioning versus newer stock.
Within a 3-mile radius, household counts have inched higher in recent years and are projected to expand further, even as population trends are flat to modestly down — signaling smaller household sizes and a broader renter pool. Elevated home values (the neighborhood ranks at the top nationally) reinforce reliance on multifamily housing, while a rent-to-income ratio near 0.17 suggests manageable affordability pressure that can support retention.
Safety indicators compare favorably at the national level, with the neighborhood around the 70th percentile for lower crime versus U.S. neighborhoods, according to WDSuite. Within the San Francisco–San Mateo–Redwood City metro, the crime rank sits on the less favorable side (ranked 35 among 193 neighborhoods), so investors should underwrite prudent security and operating practices.
Recent momentum is constructive: estimated property offenses declined by roughly mid‑double digits year over year, and estimated violent offenses also trended down over the past year. These directional improvements, combined with nationally competitive standing, support a balanced risk view without overstating block-level conditions.
Nearby headquarters and corporate campuses — including Oracle, Franklin Resources, Visa, Gilead Sciences, and the Oracle Conference Center — create a substantial professional employment base that supports multifamily renter demand and shorter commute times.
- Oracle enterprise software (1.7 miles) HQ
- Oracle Conference Center corporate facilities (1.8 miles)
- Franklin Resources asset management (3.0 miles) HQ
- Visa payments (3.7 miles) HQ
- Gilead Sciences biopharma (4.3 miles) HQ
520 Elm St is a 25‑unit, 1972‑vintage asset positioned in a high-amenity, employment-rich pocket of San Carlos. Neighborhood occupancy is competitive within the metro and nationally above average, and renter concentration is high, pointing to depth of tenant demand. Elevated for-sale housing costs in the area sustain reliance on rentals, while a modest rent-to-income profile supports retention and cash flow durability.
Proximity to multiple blue-chip headquarters anchors daytime population and leasing funnels, and the older vintage offers clear value-add and systems modernization levers. According to commercial real estate analysis from WDSuite, amenity density and nationally competitive safety indicators further support long-term fundamentals, while investors should still plan for capital improvements and careful operating practices.
- Competitive neighborhood occupancy with high renter concentration supports leasing stability
- Elevated home values reinforce rental demand and pricing power potential
- Employment base anchored by nearby HQs drives steady renter pipeline
- 1972 vintage presents value-add and systems-upgrade upside
- Risks: older building capex and metro-relative safety rank require active management