| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 85th | Best |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2700 Ash St, Palo Alto, CA, 94306, US |
| Region / Metro | Palo Alto |
| Year of Construction | 1998 |
| Units | 24 |
| Transaction Date | 1997-07-25 |
| Transaction Price | $1,045,000 |
| Buyer | MID PENINSULA PAGE MILL COURT INC |
| Seller | MID PENINSULA HOUSING COALITION |
2700 Ash St Palo Alto Multifamily Investment
Situated in a high-income Palo Alto neighborhood where elevated home values sustain renter reliance on multifamily housing, this asset benefits from a deep tenant base and durable demand, according to WDSuite’s CRE market data.
The property sits in an Urban Core pocket of Palo Alto that ranks 42 out of 344 San Jose metro neighborhoods (top quartile nationally), reflecting strong overall neighborhood quality. Amenities are a local strength with restaurant density in the upper tier (98th percentile nationally) and parks access at the top of the metro, while grocery and pharmacy availability also test above national averages, based on commercial real estate analysis from WDSuite.
Schools are a standout with the neighborhood’s average rating at the top of both the metro (1 of 344) and national distribution. For multifamily investors, top-rated schools often support leasing velocity and retention among family renters, especially for two-bedroom product around the property’s average unit size.
Tenure patterns indicate a sizable renter-occupied share (about half of housing units), placing the neighborhood well above the metro median for renter concentration. That depth of renting households points to a stable tenant base for professionally managed properties, even as the neighborhood-level occupancy metric is below national medians; note that this occupancy measure reflects the broader neighborhood, not this specific property.
Within a 3-mile radius, population has edged up and households are projected to increase further over the next five years, indicating a gradual renter pool expansion. High median household incomes and elevated ownership costs in the immediate area typically reinforce multifamily demand and can support pricing power, while a rent-to-income profile that is comparatively manageable for this metro can aid lease retention.
Built in 1998 versus a neighborhood average vintage from the mid-1970s, the asset’s newer construction should remain competitive against older local stock; targeted modernization of finishes and systems can unlock value-add potential without full-scale repositioning.
Safety signals are mixed relative to peers. The neighborhood sits below the national median on several safety benchmarks, and it ranks in the lower half among 344 San Jose metro neighborhoods; investors should underwrite security and insurance line items accordingly.
Property crime indicators are elevated compared with national norms, though recent year-over-year data show a meaningful decline, suggesting some improvement in trend. As always, interpret these as neighborhood-level metrics rather than block-specific conditions, and pair them with property-level controls and operating practices.
Proximity to major technology employers supports steady renter demand and short commutes for residents, notably among knowledge workers. Nearby anchors include HP, Hewlett Packard Enterprise, Tesla, Alphabet, and Facebook.
- HP — technology (0.71 miles) — HQ
- Hewlett Packard Enterprise — technology (0.71 miles) — HQ
- Tesla — electric vehicles (2.1 miles) — HQ
- Alphabet — software & internet (3.1 miles) — HQ
- Facebook — software & internet (4.0 miles) — HQ
2700 Ash St benefits from Palo Alto’s high-income renter base, top-ranked schools, and strong amenity access, all of which support leasing and retention over time. Elevated home values in the neighborhood tilt households toward renting, and, according to CRE market data from WDSuite, renter concentration is above the metro median, reinforcing demand depth even as neighborhood-level occupancy trends run softer than national medians.
Constructed in 1998, the property is newer than much of the surrounding stock, offering competitive positioning with potential to capture value through targeted updates rather than heavy capital programs. Within a 3-mile radius, steady population and projected household growth indicate a gradually expanding tenant base, which should aid occupancy stability and rent performance through typical cycles.
- High-income, tech-driven renter pool with proximity to major employers
- Top-tier schools and strong amenities support leasing velocity and retention
- 1998 vintage offers competitive edge versus older neighborhood stock with value-add upside
- Household growth within 3 miles supports long-run demand and occupancy stability
- Risks: neighborhood-level occupancy runs soft and property crime is elevated; plan for prudent operations and security