| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 74th | Good |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 250 Budd Ave, Campbell, CA, 95008, US |
| Region / Metro | Campbell |
| Year of Construction | 1982 |
| Units | 104 |
| Transaction Date | 2024-04-29 |
| Transaction Price | $21,000,000 |
| Buyer | CORINTHIAN COMMUNITY PARTNERS LP |
| Seller | CORINTHIAN HOUSE RESIDENCE INC |
250 Budd Ave Campbell Multifamily Investment Opportunity
Neighborhood fundamentals point to durable renter demand and high occupancy, according to WDSuite s CRE market data, with ownership costs in Santa Clara County supporting reliance on rentals. This asset benefits from strong Silicon Valley employment nodes nearby and competitive positioning for value-add execution.
The property sits in an Urban Core pocket of Campbell rated A and ranked 40 out of 344 neighborhoods in the San Jose Sunnyvale Santa Clara metro placing it in the top quartile metro-wide. Amenity access is a clear strength: neighborhood counts for restaurants, groceries, and cafes are in the higher national percentiles, supporting daily convenience and leasing appeal. Park access is limited within the immediate neighborhood, so outdoor space programming on-site can be a differentiator for retention.
Neighborhood occupancy is strong at 96.1% and above many U.S. locations, with stability over the past five years; this supports income consistency at the market level and indicates resilient renter demand. Median contract rents in the neighborhood track in the upper national percentiles, which, combined with high local incomes, indicates pricing power for quality assets. Home values are elevated relative to incomes (top national percentile for value-to-income), reinforcing continued reliance on multifamily housing and supporting lease retention.
Construction patterns skew older than the subject: the neighborhood s average construction year is 1974, while the property was built in 1982. The 1982 vintage is newer than the local average, helping competitiveness versus older stock while still implying routine capital planning for aging systems and targeted renovations to drive rent premiums.
Renter-occupied share in the neighborhood is high (ranked 26 of 344; top quartile nationally), indicating a deep tenant base and breadth of potential demand for a 104-unit community. Within a 3-mile radius, demographics show steady population and household growth historically, with forecasts indicating additional population growth and a notable increase in households by 2028. This shift toward more households and slightly smaller average household size expands the renter pool and supports occupancy stability for well-maintained assets. These dynamics align with sustained demand drivers cited in WDSuite s commercial real estate analysis.
Safety indicators at the neighborhood level compare less favorably to both metro and national benchmarks. The neighborhood s crime rank places it below the metro median (ranked 302 out of 344 metro neighborhoods), and national percentiles indicate weaker comparative safety. Year-over-year volatility in estimated offense rates has been noted in the data. For investors, this calls for thoughtful security measures, lighting, and community management to support resident experience and retention.
Framing is neighborhood-level, not property-specific. Monitoring trend direction and engaging with local resources can help contextualize risk and inform underwriting assumptions around marketing, insurance, and operating practices.
Proximity to major Silicon Valley employers underpins leasing demand and commute convenience, particularly for technology and corporate services roles. Key nearby employers include Netflix, eBay, Apple offices, and Adobe a diversified base that supports tenant retention.
- Netflix streaming & media (1.5 miles) HQ
- eBay e-commerce (1.9 miles) HQ
- Apple Stevens Creek 8 technology offices (4.1 miles)
- Apple Tantau 14 technology offices (4.5 miles)
- Adobe Systems software (4.9 miles)
250 Budd Ave offers scale at 104 units in a high-cost ownership market, where elevated for-sale values bolster multifamily demand. Neighborhood occupancy remains strong and renter concentration is high, supporting depth of the tenant base and income durability. According to CRE market data from WDSuite, the area ranks in the top quartile among 344 metro neighborhoods on overall quality and amenity access a favorable backdrop for leasing, with limited park access suggesting on-site enhancements can further strengthen retention.
Built in 1982, the property is newer than the local average vintage, providing competitive positioning versus older stock while leaving room for value-add upgrades and systems modernization to capture rent premiums. Steady 3-mile population growth and a projected increase in households expand the renter pool, while proximity to major employers like Netflix and eBay supports lease-up velocity and renewal rates. Investors should underwrite prudent operating assumptions for security and ongoing capital planning consistent with an early-1980s asset.
- Top-quartile neighborhood quality and amenities support leasing strength
- High renter-occupied share indicates deep demand and occupancy stability
- 1982 vintage offers value-add and systems-upgrade potential versus older stock
- Near major Silicon Valley employers, supporting tenant retention and pricing power
- Risks: neighborhood safety metrics below metro averages; limited nearby parks; plan for capex and security