88 Hillside, Daly City, CA
95-unit multifamily property in transit-oriented community in the San Francisco Bay area with close proximity to retail amenities.
Hines U.S. Property Recovery Fund (HUSPRF)
Strategic asset in a supply-constrained submarket
AT A GLANCE
Daly City, CA
88 Hillside is conveniently located near transit, employment nodes, and retail.
123,997 SF, 5 Bldgs / 95 Units
Description
88 Hillside is conveniently located in Daly City, California in a transit-oriented neighborhood with access to downtown San Francisco and the rest of the San Francisco Peninsula. The project is within walking distance to a Bay Area Rapid Transit station and has easy access to Highway 280 for a convenient commute to major employers in San Francisco, San Mateo, and Silicon Valley.
At acquisition by the Hines U.S. Property Recover Fund (HUSPRF) in December 2024, the San Francisco metropolitan area carried the strongest price growth forecast across all domestic multifamily markets tracked by Hines Research, with rental demand supported by the market’s steep home ownership costs. The Daly City submarket has significant barriers to entry with a very limited supply of multifamily units, no new projects planned as of Q4 2024 and only 167 market-rate units delivered since 2001, including this project1.
88 Hillside benefits from a differentiated, above-market average unit size of 1,148 SF, 18% larger than comparable multifamily offerings in the submarket2. HUSPRF intends to increase value through amenity and unit upgrades, supported by improved active property management. The Fund intends to add a fitness center, tenant lounge, and storage space, and is considering select, in-unit upgrades.
Gallery
1Source: Hines Research, Costar – Daly City and Brisbane included in submarket MSA, as of Q4 2024.
2Source: Institutional Property Advisors, as of Q2 2024.
Disclosures
88 Hillside is part of the HUSPRF portfolio. The case study presented herein is for illustrative purposes only. It should not be assumed that investments made in the future will be comparable in quality or performance to the investment described herein.
The case studies selected are the most recent acquisitions in HUSPRF’s primary focus sectors.
HUSPRF is closed to new investors.
For use by professional/accredited investors only.