| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 87th | Best |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3875 Park Blvd, Palo Alto, CA, 94306, US |
| Region / Metro | Palo Alto |
| Year of Construction | 1973 |
| Units | 23 |
| Transaction Date | 1994-07-16 |
| Transaction Price | $1,775,000 |
| Buyer | SPIEKER RICHARD T |
| Seller | FEDERAL NATIONAL MORTGAGE ASSOCIATION |
3875 Park Blvd Palo Alto Multifamily Investment
This 23-unit property benefits from neighborhood-level occupancy at 90.8% in a market with strong rental demand. According to CRE market data from WDSuite, the area ranks in the top quartile nationally for amenities and demographics.
Located in an Urban Core neighborhood ranked 6th among 344 metro neighborhoods, this Palo Alto location demonstrates strong fundamentals for multifamily investment. The area achieves an A+ neighborhood rating with demographics ranking in the 87th national percentile, supported by high-income households and substantial tech employment nearby.
Built in 1973, this property represents typical vintage for the area, where the average construction year is 1981. The 50-year age suggests potential for value-add renovations and capital improvements to capture higher rents in this premium market. With 61.6% of housing units occupied by renters, the neighborhood maintains strong rental demand fundamentals.
Demographics within a 3-mile radius show a population of 126,009 with median household income of $185,423. The area projects modest population growth to 126,605 by 2028, with household formation expected to increase 32.7% to 61,573 households. This expansion in the renter pool supports long-term occupancy stability, particularly given the high ownership costs that reinforce rental demand in this market.
The neighborhood ranks 13th nationally for parks per square mile and maintains exceptional amenity density, with restaurants, cafes, and childcare facilities supporting tenant retention. Contract rents average $2,734 with 27.6% growth over five years, though rent-to-income ratios suggest affordability considerations for lease management strategies.
Safety metrics show the neighborhood ranking 242nd among 344 metro neighborhoods for overall crime, placing it in the 34th national percentile. Property offense rates are elevated at 2,735 incidents per 100,000 residents, ranking in the bottom quartile nationally at the 7th percentile.
Violent crime rates are more moderate at 90.2 incidents per 100,000 residents, ranking 181st regionally and in the 33rd national percentile. Recent trends show violent crime declining 12.4% year-over-year, while property crimes increased 5.6%. Investors should factor security considerations and tenant screening protocols into operational planning for this location.
The property benefits from proximity to major technology headquarters and corporate offices that drive workforce housing demand in the area.
- HP — technology headquarters (1.1 miles) — HQ
- Hewlett Packard Enterprise — technology headquarters (1.1 miles) — HQ
- Tesla — automotive technology headquarters (2.1 miles) — HQ
- Alphabet — technology headquarters (2.4 miles) — HQ
- Facebook — technology headquarters (4.5 miles) — HQ
This 1973-vintage property offers value-add potential in a market with demonstrated rental demand strength. Neighborhood-level occupancy at 90.8% indicates stable tenant retention, while the concentration of major technology employers within a 5-mile radius supports workforce housing demand. Commercial real estate analysis shows the area ranking in the top quartile nationally for demographics and amenities, though elevated property crime rates require operational consideration.
The 23-unit scale provides manageable repositioning opportunities, with average unit sizes of 768 square feet aligning with local rental preferences. Projected household growth of 32.7% through 2028 expands the potential tenant base, while high ownership costs maintain rental market participation. The property's vintage suggests capital improvement upside to capture rent premiums in this high-income submarket.
- Neighborhood occupancy at 90.8% demonstrates rental demand stability
- Five major technology headquarters within 5 miles support workforce housing demand
- 1973 vintage presents value-add renovation opportunities in premium market
- Projected 32.7% household growth through 2028 expands tenant base
- Risk factor: Property crime rates in bottom quartile nationally require security considerations