| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 88th | Best |
| Amenities | 97th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 322 Everett Ave, Palo Alto, CA, 94301, US |
| Region / Metro | Palo Alto |
| Year of Construction | 1995 |
| Units | 51 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
322 Everett Ave Palo Alto Core Multifamily
Amenity-rich Downtown Palo Alto supports durable renter demand and pricing power, according to WDSuite’s CRE market data. Neighborhood-level occupancy and rents should be monitored, but the location fundamentals and elevated ownership costs favor sustained multifamily usage.
Located in Palo Alto’s Urban Core, the neighborhood ranks 1 of 344 metro neighborhoods for overall amenities and sits in the top quartile nationally, with dense access to restaurants, cafes, parks, groceries, and pharmacies. These conveniences help support leasing velocity for workforce and professional tenants seeking walkable living near employment centers.
Median home values in the neighborhood are elevated relative to both metro and national norms, and value-to-income ratios are high. In practice, this reinforces reliance on multifamily housing and can sustain pricing power, while median contract rents also trend high. Lease management should account for rent-to-income considerations to support retention.
Neighborhood multifamily occupancy is measured at the neighborhood level (not this property) and sits below recent metro norms, with a five-year decline indicated. For investors, this argues for focused asset positioning and renewal strategies, but the neighborhood’s renter-occupied housing share is in the top quartile among 344 metro neighborhoods, signaling depth in the tenant base.
Within a 3-mile radius, demographics show stable population with a modest shift toward smaller household sizes and a projected increase in total households. This dynamic can expand the renter pool over time, supporting occupancy stability even as turnover patterns evolve among young professionals and downsizing households.
Safety indicators for the neighborhood trend below national averages, and the area ranks in the lower tier among 344 metro neighborhoods. Nationally benchmarked measures point to comparatively higher property and violent offense exposure than typical U.S. neighborhoods. Recent trend data, however, shows a year-over-year improvement in violent-offense rates that outperforms many areas nationwide. Investors should underwrite appropriate security, lighting, and access controls consistent with submarket standards and the property’s positioning.
Proximity to major technology employers underpins a deep, well-compensated renter pool and short commute times for residents. Nearby anchors include Facebook, HP, Hewlett Packard Enterprise, Tesla, and Facebook’s MPK campus.
- Facebook MPK 22GW-36 — corporate offices (2.3 miles)
- Hewlett Packard Enterprise — corporate offices (2.5 miles) — HQ
- HP — corporate offices (2.5 miles) — HQ
- Facebook — corporate offices (2.5 miles) — HQ
- Tesla — corporate offices (3.7 miles) — HQ
322 Everett Ave is a 51-unit, 1995-vintage asset positioned in an amenity-dense, high-income core with strong employer proximity. The property is newer than the neighborhood’s older average stock, which supports competitive positioning; targeted modernization can further enhance appeal. Neighborhood NOI per unit trends are strong on average (neighborhood metric), and elevated ownership costs in the area tend to sustain multifamily demand and pricing power, according to CRE market data from WDSuite.
Key considerations include neighborhood-level occupancy that has softened and safety metrics that trail national percentiles. Still, a top-quartile renter-occupied housing share and a projected increase in households within 3 miles suggest a durable tenant base. Asset performance will hinge on precise unit mix, finishes, and operational execution to capture demand from nearby tech and professional employment.
- Core Palo Alto location with dense amenities and major employers nearby
- 1995 construction offers competitive positioning versus older neighborhood stock with room for modernization
- Elevated ownership costs reinforce reliance on rentals and support pricing power (neighborhood metric)
- Renter-occupied share is top quartile in the metro, indicating depth of tenant demand (neighborhood metric)
- Risks: softer neighborhood occupancy and below-average safety metrics require focused leasing and property management