| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Poor |
| Demographics | 25th | Poor |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7190 Eigleberry St, Gilroy, CA, 95020, US |
| Region / Metro | Gilroy |
| Year of Construction | 1978 |
| Units | 22 |
| Transaction Date | 2014-12-09 |
| Transaction Price | $3,850,000 |
| Buyer | 110 GRAHAM REAL ESTATE INVESTMENTS LLC |
| Seller | EIGLEBERRY 0 LLC |
7190 Eigleberry St, Gilroy Multifamily Investment
Neighborhood renter concentration is deep and occupancy sits near national norms, according to WDSuite’s CRE market data, positioning this 22-unit asset for steady demand with potential to optimize operations.
The property sits in Gilroy’s Urban Core within the San Jose–Sunnyvale–Santa Clara metro, where neighborhood livability favors convenience retail and dining. Cafes, restaurants, parks, and grocery options score in the top decile nationally, indicating daily-needs access that can support leasing velocity and resident retention. By contrast, limited childcare and pharmacy presence suggests residents may rely on nearby submarkets for certain services.
Neighborhood occupancy is roughly in line with the national middle, and the share of housing units that are renter-occupied ranks competitive among San Jose–Sunnyvale–Santa Clara neighborhoods (11 out of 344), signaling a large tenant base for multifamily operators. Median contract rents in the neighborhood are elevated versus many U.S. areas, while the rent-to-income ratio points to manageable affordability pressure, a constructive setup for lease management and pricing power.
Within a 3-mile radius, population and household counts have grown over the past five years, with projections calling for further population growth and a notable increase in households. Rising incomes and a high-cost ownership market, evidenced by elevated home values and a value-to-income ratio near the upper national range, tend to reinforce renter reliance on multifamily housing and support occupancy stability.
The asset’s 1978 construction is newer than the neighborhood’s older average building stock (1952). That vintage can remain competitive versus prewar and midcentury properties, though investors should budget for targeted modernization and system upgrades to meet current resident expectations and reduce long-term CapEx volatility.
School ratings in the neighborhood track below national norms, which may temper appeal for some family renters, but strong amenity density and commuter access within the broader Silicon Valley region can balance demand drivers for a diverse renter profile.
Safety indicators for the neighborhood trend below national averages, and the area ranks below the metro median for crime (236 out of 344 San Jose–Sunnyvale–Santa Clara neighborhoods). Nationally, recent estimates place violent offense rates around the lower deciles (approximately the 12th percentile), and property offense rates near the bottom tail (about the 2nd percentile) compared with neighborhoods nationwide.
On a positive note, year-over-year trends show improvement, with violent offenses down roughly 31.6% and property offenses lower by about 8.0%. For underwriting, this suggests monitoring trajectory and emphasizing property-level security measures and resident engagement rather than assuming uniform conditions across all blocks.
Proximity to major Silicon Valley employers supports a commuter renter base and can aid retention for workforce and professional tenants. Notable nearby employers include IBM, Netflix, eBay, Adobe, and PayPal.
- IBM Silicon Valley Lab — technology R&D (16.6 miles)
- Netflix — streaming media & technology (28.1 miles) — HQ
- eBay — e-commerce (28.3 miles) — HQ
- Adobe Systems — software (28.9 miles)
- PayPal Holdings — fintech (32.4 miles) — HQ
7190 Eigleberry St offers a 22-unit foothold in a renter-heavy neighborhood with daily-needs amenities that are strong relative to national peers. Based on CRE market data from WDSuite, neighborhood occupancy is around the middle of national readings, while a high share of renter-occupied units and growing 3‑mile population and household counts point to a durable tenant base. Elevated home values in the area further sustain rental reliance and can support rent growth strategies when paired with disciplined lease management.
Built in 1978, the asset is newer than much of the surrounding housing stock, providing a competitive edge versus older properties while still presenting targeted value-add potential through modernization and efficiency upgrades. Key underwriting considerations include safety metrics that trail national norms and uneven school quality, which suggest focusing on security, operations, and amenities that resonate with working households and commuters.
- Renter-heavy neighborhood supports depth of demand and occupancy stability.
- Strong local amenity density (cafes, restaurants, parks, grocery) aids leasing and retention.
- 1978 vintage offers competitive positioning versus older stock with value-add upside.
- High-cost ownership market reinforces renter reliance and potential pricing power.
- Risk: below-average safety and weaker schools warrant proactive management and security investment.