| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 84th | Best |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 560 Elm St, San Carlos, CA, 94070, US |
| Region / Metro | San Carlos |
| Year of Construction | 1972 |
| Units | 46 |
| Transaction Date | 1997-01-03 |
| Transaction Price | $3,320,000 |
| Buyer | NOVAK INKA ELLA |
| Seller | PETER FRANKEL |
560 Elm St San Carlos Multifamily Investment
Neighborhood fundamentals point to durable renter demand and occupancy stability, according to WDSuite’s CRE market data. Elevated ownership costs in San Carlos keep households reliant on quality rentals, reinforcing retention for well-managed assets.
Among 193 neighborhoods in the San Francisco–San Mateo–Redwood City metro, this Urban Core location ranks near the top and sits in the top quartile nationally on several investor-relevant indicators. Restaurants, cafes, groceries, parks, and pharmacies are dense here (each scoring in very high national percentiles), which supports day-to-day livability and helps sustain leasing velocity for nearby assets.
Renter concentration in the neighborhood is high, with roughly two-thirds of housing units renter-occupied. For multifamily owners, that depth of the tenant base typically supports demand through cycles and provides a wider pool for renewals and backfilling. Neighborhood occupancy is strong around the mid‑90s and, while slightly lower than five years ago, remains competitive among metro peers based on CRE market data from WDSuite.
Home values in the neighborhood are elevated by national standards, and the value-to-income ratio is high versus most U.S. neighborhoods. In investor terms, a high-cost ownership market tends to reinforce renter reliance on multifamily housing and can support pricing power, while a moderate rent-to-income profile suggests measured affordability pressure that can aid lease retention.
The average neighborhood construction year skews newer than this property’s 1972 vintage. For investors, that gap underscores the importance of capital planning and also points to potential value-add upside through targeted renovations and system upgrades to remain competitive with newer stock.
Demographic statistics are aggregated within a 3‑mile radius: households have been edging higher even as population is roughly flat, and forecasts indicate further household growth alongside smaller average household sizes. For multifamily, more households and a sizable share of higher‑income residents translate to a larger tenant base for professionally managed communities and support for occupancy stability.
Based on WDSuite’s indicators, the neighborhood’s safety profile trends favorable in a national context, landing around the top third nationwide. Within the metro, recent data shows improving momentum: both property and violent offense estimates declined year over year, a constructive signal for resident retention and leasing stability.
While no submarket is risk‑free, the combination of nationally competitive safety positioning and downward trends in offense rates provides a supportive backdrop for multifamily operations compared with many urban locations.
The employment base features major tech and life sciences headquarters within a short commute, supporting a steady renter pipeline and retention for workforce and professional households. Notable nearby employers include Oracle, Franklin Resources, Visa, and Gilead Sciences, reflected below in order of proximity.
- Oracle — enterprise software (1.8 miles) — HQ
- Oracle Conference Center — corporate offices (1.9 miles)
- Franklin Resources — asset management (3.0 miles) — HQ
- Visa — payments (3.8 miles) — HQ
- Gilead Sciences — biopharma (4.4 miles) — HQ
560 Elm St benefits from top-tier neighborhood fundamentals: dense amenities, a high share of renter-occupied housing, and a high-cost ownership landscape that reinforces rental demand. Occupancy in the neighborhood is strong and only modestly below its level five years ago, while household counts within a 3‑mile radius are expected to rise, expanding the renter pool. The 1972 vintage suggests clear value‑add potential through modernization to compete with newer stock and to capture tenancy from nearby professional employment centers.
According to CRE market data from WDSuite, national percentile standings for amenities and income are well above average, supporting both leasing depth and pricing power. Forward-looking dynamics point to more households and elevated incomes in the area, which can underpin rent growth and renewal performance for well-managed assets.
- Dense, top‑quartile amenity access and strong neighborhood ranking support leasing velocity
- High renter concentration provides depth of demand and renewal opportunities
- Elevated ownership costs reinforce reliance on rentals, aiding pricing power
- 1972 vintage offers value‑add and capex planning upside relative to newer competition
- Risk: occupancy has eased from prior highs; active asset management and renovations may be needed to maintain competitiveness