| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 68th | Fair |
| Amenities | 79th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 65 Chestnut Ave, South San Francisco, CA, 94080, US |
| Region / Metro | South San Francisco |
| Year of Construction | 2003 |
| Units | 41 |
| Transaction Date | 2001-05-29 |
| Transaction Price | $1,000,000 |
| Buyer | CHESTNUT CREEK INC |
| Seller | CWS UTILITY SERVICES |
65 Chestnut Ave South San Francisco Multifamily Investment
This 41-unit property built in 2003 benefits from strong neighborhood occupancy at 94.5% and elevated median household incomes of $135,139, according to CRE market data from WDSuite.
The South San Francisco neighborhood ranks in the top quartile nationally for housing fundamentals and demonstrates strong multifamily market conditions. Neighborhood occupancy reaches 94.5%, supporting rental demand stability, while the 45.7% renter-occupied share indicates substantial tenant pool depth. Median contract rents of $2,723 reflect pricing power in this urban core location.
Demographics within a 3-mile radius show household income strength with a median of $135,369 and projected growth to $180,024 by 2028. The area's 28.1% of households earning over $200,000 annually provides a qualified tenant base, while the forecast 33.3% increase in total households supports long-term rental demand expansion. The neighborhood's B+ rating reflects consistent fundamentals across housing, demographics, and amenities.
Built in 2003, this property aligns with the neighborhood's average construction year of 1988, positioning it as relatively newer stock that may require less immediate capital expenditure compared to older vintage buildings. The area offers strong amenity density with 5.9 grocery stores and childcare facilities per square mile, ranking in the 97th and 99th national percentiles respectively, supporting tenant retention through convenient access to daily needs.
Home values averaging $1.19 million limit ownership accessibility, sustaining rental demand as elevated ownership costs reinforce renter reliance on multifamily housing. The rent-to-income ratio of 0.25 suggests manageable affordability for the income profile, though investors should monitor retention dynamics given the competitive Bay Area rental market.
Safety metrics show mixed performance relative to the San Francisco-San Mateo metro area. The neighborhood ranks 139th among 193 metro neighborhoods for overall crime, placing it in the 37th national percentile. Property offense rates of 429.6 per 100,000 residents rank in the 40th national percentile, while violent crime rates of 39.1 per 100,000 residents perform slightly better at the 47th national percentile.
Recent trends indicate property offense rates increased 24.5% year-over-year, ranking 167th among metro neighborhoods for this change, while violent offense rates rose 29.1%. Investors should consider these trends when evaluating tenant retention and marketing positioning, though the neighborhood's overall crime performance remains competitive among Bay Area urban core locations.
The property benefits from proximity to major corporate employers that support consistent workforce housing demand, including retail distribution and pharmaceutical companies within commuting distance.
- Walmart Global eCommerce HQ — retail technology (2.1 miles)
- Core-Mark Holding — distribution services (2.8 miles) — HQ
- Sfo Airport Marriott Accounting Office — hospitality services (5.0 miles)
- Celgene — pharmaceutical (8.0 miles)
- McKesson — healthcare distribution (9.2 miles) — HQ
This 41-unit property offers stable multifamily fundamentals in a high-income South San Francisco neighborhood with strong occupancy performance and demographic tailwinds. Built in 2003, the asset represents newer vintage stock that may require less immediate capital investment while benefiting from neighborhood occupancy of 94.5% and median household incomes of $135,139. Projected household growth of 33.3% by 2028 supports expanding rental demand, while elevated home values sustain renter reliance on multifamily housing options.
The location provides workforce housing proximity to major employers including Walmart Global eCommerce HQ and pharmaceutical companies, supporting consistent tenant demand. According to multifamily property research from WDSuite, the neighborhood ranks in the top quartile nationally for housing fundamentals, though investors should monitor recent increases in property offense rates and competitive rental market dynamics.
- Strong neighborhood occupancy at 94.5% indicates stable rental demand
- High-income demographics with median household income of $135,139
- Projected 33.3% household growth by 2028 supports demand expansion
- 2003 construction year reduces immediate capital expenditure needs
- Risk consideration: Recent increases in property offense rates require monitoring