| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Best |
| Demographics | 73rd | Good |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3400 Carter Dr, South San Francisco, CA, 94080, US |
| Region / Metro | South San Francisco |
| Year of Construction | 1973 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3400 Carter Dr South San Francisco Multifamily Investment
This 56-unit property built in 1973 sits in a neighborhood with 94.8% occupancy and strong household income fundamentals. Commercial real estate analysis from WDSuite shows the area ranking in the 97th percentile nationally for median household income at $173,000.
The neighborhood ranks 23rd among 193 metro neighborhoods with an A-rating, positioning in the top quartile for overall fundamentals. With 94.8% occupancy and median contract rents of $3,168, the area demonstrates stable rental demand supported by high household incomes ranking in the 97th percentile nationally at $173,000.
Demographics within a 3-mile radius show 121,900 residents with strong income growth, as median household income increased 40.5% over five years to $140,168. The area maintains 34.1% renter-occupied units, providing a solid tenant base. Five-year projections indicate household count growth of 28.8%, expanding the renter pool and supporting occupancy stability.
The property's 1973 construction year presents value-add renovation opportunities, as the neighborhood's average construction year of 1986 suggests modernization potential for competitive positioning. Elevated home values exceeding $1 million sustain rental demand by limiting ownership accessibility, reinforcing tenant retention in multifamily housing.
Amenity density ranks in the 94th percentile nationally with 7.3 grocery stores and 10.95 restaurants per square mile, supporting tenant appeal. School ratings average 4.0 out of 5, ranking in the 84th percentile nationally, which enhances neighborhood desirability for family renters.
The neighborhood shows moderate safety metrics with property crime rates of 352 incidents per 100,000 residents, ranking 90th among 193 metro neighborhoods. Property crime declined 15.4% year-over-year, indicating improving trends that support tenant retention and leasing appeal.
Violent crime rates remain relatively low at 18.3 incidents per 100,000 residents, with a significant 41% decline over the past year. The neighborhood ranks in the 60th percentile nationally for violent crime, positioning above metro median for personal safety considerations that influence tenant decision-making.
The property benefits from proximity to major corporate offices and headquarters, supporting workforce housing demand from professional tenants with stable employment.
- Walmart Global eCommerce — corporate headquarters (2.4 miles)
- Core-Mark Holding — distribution & logistics (4.8 miles) — HQ
- SFO Airport Marriott — hospitality accounting (5.7 miles)
- Celgene — biotechnology (9.6 miles)
- McKesson — healthcare services (10.8 miles) — HQ
This South San Francisco property offers stable fundamentals in a high-income neighborhood with 94.8% occupancy and median household incomes of $173,000. According to CRE market data from WDSuite, the area ranks in the top quartile among 193 metro neighborhoods, supported by strong demographics and proximity to major employers including Walmart's eCommerce headquarters.
The 1973 vintage presents value-add renovation opportunities to capture upside in a market where elevated home values sustain rental demand. Five-year household growth projections of 28.8% within the 3-mile radius indicate expanding tenant demand, while declining crime rates and excellent school ratings enhance long-term tenant retention prospects.
- Neighborhood occupancy of 94.8% demonstrates stable rental demand
- Median household income of $173,000 supports premium rent growth potential
- Value-add renovation opportunities with 1973 construction year
- Projected 28.8% household growth expands future tenant base
- Risk: Older vintage requires capital expenditure planning for competitive positioning