| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Good |
| Demographics | 60th | Poor |
| Amenities | 100th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1028 Howard St, San Francisco, CA, 94103, US |
| Region / Metro | San Francisco |
| Year of Construction | 1994 |
| Units | 31 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1028 Howard St, San Francisco Multifamily Investment
Positioned in San Francisco’s Urban Core, this 1994 asset benefits from dense amenities and a deep renter base, according to WDSuite’s CRE market data, though neighborhood occupancy has lagged recent metro performance.
The property sits in an Urban Core location with exceptional daily-needs access. Amenity density ranks at the top among 193 metro neighborhoods and is top quartile nationally, with abundant grocery, pharmacy, parks, and food options supporting convenience and walkability. For investors, this concentration reduces friction for leasing and renewals, while the neighborhood’s above-median housing score and strong NOI-per-unit profile indicate pricing resilience versus many U.S. neighborhoods.
Renter concentration in the neighborhood is high (share of housing units that are renter-occupied ranks competitively among 193 metro neighborhoods and sits in the top quartile nationally). This depth of renter demand supports a larger tenant base and can aid leasing stability. By contrast, the neighborhood occupancy rate has trailed most of the metro (ranked near the bottom among 193 neighborhoods), suggesting elevated lease-up and retention risk relative to peer submarkets. School ratings are below national averages, which may skew the resident mix more toward singles and couples than families.
Within a 3-mile radius, recent trends show flat-to-mild population movement and strong income gains alongside a projected increase in total households and smaller household sizes over the next five years. That combination typically expands the renter pool and supports absorption in smaller formats, even as management may need to emphasize lease retention where affordability pressure emerges. Elevated home values compared with incomes create a high-cost ownership market, which tends to reinforce multifamily reliance and support pricing power for well-maintained properties.
Vintage matters: the asset’s 1994 construction is newer than the neighborhood average stock from the 1970s, offering relative competitiveness versus older buildings. Investors should still plan for targeted modernization and system updates to maintain positioning. Overall, this micro-market remains competitive among San Francisco-San Mateo-Redwood City, CA neighborhoods and top quartile nationally on amenities, a combination that underpins the case for long-term demand despite softer near-term occupancy readings and lower school quality.
Neighborhood safety indicators rank near the bottom among 193 metro neighborhoods, and national comparisons place the area well below average. While recent year-over-year estimates point to modest declines in both violent and property offenses, investors should underwrite with conservative assumptions around on-site security, lighting, and operational protocols. The key takeaway is comparative, not block-specific: conditions are generally less safe than the wider region and most U.S. neighborhoods, though the recent downward trend is a constructive signal to monitor.
Proximity to major employers in healthcare, life sciences, and financial services supports commuter convenience and helps sustain multifamily renter demand. Nearby anchors include McKesson, Pfizer, Celgene, and the headquarters operations of Wells Fargo.
- McKesson Ventures — corporate offices (0.7 miles)
- McKesson — corporate offices (0.7 miles) — HQ
- Pfizer — corporate offices (0.9 miles)
- Celgene — corporate offices (1.0 miles)
- Wells Fargo — corporate offices (1.0 miles) — HQ
1028 Howard St offers Urban Core exposure with exceptional amenity access and a deep renter base, factors that typically support leasing durability. The 1994 vintage is newer than much of the surrounding stock, positioning the asset competitively versus older buildings while still warranting selective modernization to sustain performance. According to CRE market data from WDSuite, neighborhood-level rents sit within a high-cost ownership context, which often sustains rental demand even as operators should plan for disciplined lease management.
Counterpoints include below-metro occupancy in the immediate neighborhood and safety metrics that trail regional and national norms. Forward-looking demographics within a 3-mile radius indicate growth in households and smaller household sizes, which can expand the renter pool and support absorption; prudent underwriting around security, marketing, and concessions strategy can help navigate near-term volatility.
- Urban Core location with top-tier amenity access supports leasing and renewals
- 1994 construction offers competitive positioning versus older neighborhood stock with targeted modernization potential
- High-cost ownership market reinforces renter reliance and supports pricing power
- Risks: below-metro occupancy and lower safety scores warrant conservative underwriting and active management