| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Poor |
| Demographics | 71st | Fair |
| Amenities | 71st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1565 El Camino Real, South San Francisco, CA, 94080, US |
| Region / Metro | South San Francisco |
| Year of Construction | 1999 |
| Units | 34 |
| Transaction Date | 2021-11-10 |
| Transaction Price | $12,000,000 |
| Buyer | MP WILLOW GREENRIDGE ASSOCIATES LP |
| Seller | MP GREENRIDGE ASSOCIATES |
1565 El Camino Real, South San Francisco Multifamily Investment
High-cost ownership in San Mateo County supports durable renter demand and steady leasing fundamentals, according to WDSuite’s CRE market data. Neighborhood occupancy remains above the metro median, reinforcing an income-focused thesis for a 34-unit asset.
Situated in an inner suburb of the San Francisco–San Mateo–Redwood City metro, the neighborhood rates B- and is above the metro median for occupancy at the neighborhood level, not the property. Elevated home values (a high-cost ownership market) and strong household incomes point to a deep renter pool and pricing power for well-managed multifamily, based on CRE market data from WDSuite.
Livability indicators are mixed but generally supportive. Parks density ranks in the top quartile nationally and childcare access is similarly strong, while grocery and restaurant availability are competitive among metro neighborhoods. Café and pharmacy density is thinner nearby, which may modestly affect walk-to-amenity appeal but does not preclude demand given broader Bay Area access patterns.
Schools average mid-3s out of five and sit above national norms, which can aid retention among family renters. Median contract rents in the neighborhood are high relative to national levels, yet the rent-to-income ratio is manageable for the area’s income profile, suggesting controllable affordability pressure for professionally operated assets.
Construction patterns skew older locally (average vintage 1957 across the neighborhood), while the subject property’s 1999 construction is newer than typical stock. That positioning can be competitively favorable versus pre-1980s assets, though investors should plan for selective system modernization and light value-add to meet current renter expectations. Within a 3-mile radius, households have grown in recent years and are projected to expand further, indicating a larger tenant base even as average household size declines—supportive of sustained multifamily demand under thoughtful lease management and multifamily property research.
Safety trends are mixed. The neighborhood’s crime rank sits below the metro median (ranked 132 among 193 metro neighborhoods), indicating higher reported incidents than many parts of the region. Nationally, the area aligns closer to the middle of the pack for violent incidents, with recent data showing a modest year-over-year decline—an encouraging directional signal.
Property-related offenses are comparatively higher versus national norms and rose over the last year, while violent offense estimates improved. Investors should underwrite for standard security measures and asset-level controls (lighting, access management) to support resident retention, and monitor submarket policing and community initiatives as part of ongoing risk management.
Proximity to major employers supports a broad commuter tenant base and helps stabilize leasing, with workforce demand anchored by e-commerce, wholesale distribution, hospitality, biotech, and healthcare distribution.
- Walmart Global eCommerce HQ — e-commerce (2.9 miles)
- Core-Mark Holding — wholesale distribution (3.6 miles) — HQ
- SFO Airport Marriott Accounting Office — hospitality/accounting (6.0 miles)
- Celgene — biotech (7.8 miles)
- McKesson — healthcare distribution (9.0 miles) — HQ
1565 El Camino Real is a 34-unit, 1999-vintage asset positioned in a high-income, high-cost ownership pocket of South San Francisco. Neighborhood occupancy is above the metro median and local rents sit at the higher end of national benchmarks, while the area’s income profile keeps rent-to-income manageable—factors that can support occupancy stability and disciplined rent growth, according to CRE market data from WDSuite. Compared with older neighborhood stock, the property’s vintage offers relative competitiveness, with targeted upgrades likely to enhance leasing velocity and resident retention.
Within a 3-mile radius, households have increased and are projected to expand further even as population trends have been flat to slightly negative historically—signaling smaller household sizes and a potential renter pool expansion over the next several years. Elevated home values in San Mateo County reinforce renter reliance on multifamily housing, supporting long-term demand for well-operated properties.
- Newer-than-neighborhood vintage (1999) offers competitive positioning versus older local stock, with selective modernization upside.
- Above-metro-median neighborhood occupancy and high household incomes support leasing stability and pricing discipline.
- High-cost ownership market bolsters renter demand and retention for professionally managed units.
- 3-mile household growth and projected increases indicate a larger tenant base and support for long-term absorption.
- Risks: comparatively higher property-crime activity and thinner café/pharmacy density; underwrite for security measures and amenity strategy.