| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 85th | Best |
| Amenities | 93rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 408 Grant Ave, Palo Alto, CA, 94306, US |
| Region / Metro | Palo Alto |
| Year of Construction | 1974 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
408 Grant Ave, Palo Alto Multifamily Investment
High renter-occupied housing and elevated ownership costs in the neighborhood support durable renter demand, according to WDSuite’s CRE market data. Neighborhood-level occupancy trends warrant close leasing management, but strong incomes and top-tier schools help underpin stability.
Positioned in Palo Alto’s Urban Core, the neighborhood rates A and ranks 42 out of 344 metro neighborhoods, placing it in the top quartile locally. The area combines strong livability signals—parks rank first out of 344 and schools average a top-tier 5.0 rating (top nationally)—with everyday convenience from groceries and pharmacies that are above metro median access levels. Restaurant density is also high, reinforcing a walkable, amenity-rich setting for residents.
From an investment lens, elevated home values (high-cost ownership market) and a value-to-income ratio that sits near the top of national comparisons point to sustained reliance on rental housing. Neighborhood renter-occupied share is just over half of housing units, indicating a deep tenant base and consistent multifamily demand. Median rent levels are among the highest nationally, while a rent-to-income ratio around the low 20% range suggests relatively lower affordability pressure for the area’s income profile—supportive of retention and credit quality.
Demographic statistics aggregated within a 3-mile radius show a stable population with rising household counts and a modestly larger renter pool expected over the next five years. This trend supports occupancy stability and unit absorption potential as more households enter the rental market, especially for professionally managed assets positioned near employment centers.
One watchpoint is neighborhood occupancy, which trails stronger metro performers. However, the combination of top-quartile neighborhood ranking, high-income households, and exceptional school options can help sustain leasing velocity and pricing resilience versus many national peers, based on commercial real estate analysis from WDSuite.
Safety indicators for the neighborhood track below the metro median, with ranks in the lower tier among 344 San Jose–Sunnyvale–Santa Clara neighborhoods. In national terms, the area sits below the midpoint for safety. Property crime levels are comparatively elevated, though recent data shows an improving trend year over year, according to WDSuite’s CRE market data. Violent crime remains low in absolute terms but moved higher in the latest annual reading; conditions can vary by block and over time.
For investors, the takeaway is to underwrite security measures, lighting, access controls, and resident engagement as part of operating plans, and benchmark incident trends against submarket peers rather than relying on a single-year snapshot.
The asset sits near a dense cluster of technology headquarters, supporting a steady professional renter base and commute convenience for residents. Nearby anchors include Hewlett Packard Enterprise, HP, Tesla, Alphabet, and Facebook.
- Hewlett Packard Enterprise — corporate offices (0.8 miles) — HQ
- HP — corporate offices (0.8 miles) — HQ
- Tesla — corporate offices (2.2 miles) — HQ
- Alphabet — corporate offices (3.3 miles) — HQ
- Facebook — corporate offices (3.9 miles) — HQ
This 38-unit property benefits from a deep renter base and high-income household profile in a top-quartile Palo Alto neighborhood. Elevated ownership costs and nationally high median rents reinforce reliance on multifamily housing, while restaurant, park, and school strengths support lease retention and long-term positioning. According to CRE market data from WDSuite, the neighborhood’s renter concentration and amenity access compare favorably within the metro.
Key underwriting considerations include below-median neighborhood occupancy and mixed safety trends, which argue for active leasing and security plans. Proximity to major tech employers provides a steady pipeline of professional tenants, supporting occupancy stability through cycles.
- Deep renter-occupied housing base and strong incomes support durable demand
- Top-quartile neighborhood with exceptional parks and schools aids retention
- Near multiple tech HQs, providing a stable pipeline of professional tenants
- Elevated ownership costs reinforce multifamily reliance and pricing power potential
- Risk: neighborhood occupancy and safety trends require proactive leasing and security management