| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Good |
| Demographics | 41st | Poor |
| Amenities | 72nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8195 Westwood Dr, Gilroy, CA, 95020, US |
| Region / Metro | Gilroy |
| Year of Construction | 1976 |
| Units | 34 |
| Transaction Date | 2019-06-05 |
| Transaction Price | $10,800,000 |
| Buyer | TOWMAN TERRAZO LLC |
| Seller | MIRA VALLEY ASSOCIATES LLC |
8195 Westwood Dr, Gilroy Multifamily with Stable Occupancy
Neighborhood occupancy has held in the high range, according to WDSuite’s CRE market data, and elevated ownership costs in Santa Clara County tend to sustain renter demand for a 34‑unit asset in this Gilroy location.
Situated in Gilroy within the San Jose–Sunnyvale–Santa Clara metro, the neighborhood posts top‑quartile nationally occupancy and is competitive among 344 metro neighborhoods for overall housing performance. According to CRE market data from WDSuite, the neighborhood’s occupancy rank (69 of 344) places it in the top quartile locally, signaling demand depth that can support income stability.
Daily‑life amenities are a relative strength: parks access is top quartile nationally and childcare density ranks competitively within the metro, while cafes and restaurants land competitive to above‑median versus local peers. The notable gap is pharmacy access (low locally), which investors may consider when positioning resident services and marketing. School ratings trend below national norms, which can influence unit mix appeal for family renters and should be factored into leasing strategy.
Tenure patterns indicate a meaningful renter base: roughly the low‑40s share of housing units are renter‑occupied at the neighborhood level, pointing to steady multifamily demand rather than transient dynamics. With median contract rents elevated for the region and a value‑to‑income profile typical of a high‑cost ownership market, the renter pool is reinforced by the relative cost of buying, which can aid lease retention and pricing power when operations are well executed.
Within a 3‑mile radius, demographics show population and household growth in recent years with further increases projected, expanding the local tenant base. Forecasts indicate additional household gains through the next five years alongside rising incomes, which supports absorption and rent performance when paired with disciplined renewal management. The property’s 1976 vintage is slightly older than the neighborhood’s late‑1970s average, suggesting potential value‑add through selective renovations and capital planning to enhance competitiveness against newer stock.
Safety trends should be evaluated with care. Compared with neighborhoods nationwide, this area scores below average on safety percentiles, indicating higher relative incidence than many U.S. neighborhoods. Within the San Jose–Sunnyvale–Santa Clara metro, the neighborhood’s crime rank sits below the metro median (265 out of 344), so investors should underwrite with conservative assumptions for security measures and operating protocols.
Recent directionality offers a partial offset: property offenses have eased year over year, while violent offense indicators remain a watch item. For multifamily operators, practical mitigants include lighting, access control, and resident engagement. Always pair local trend review with property‑level history and third‑party reports to calibrate insurance, CapEx, and staffing.
Proximity to South Bay tech and corporate offices supports commuter demand and lease retention for workforce and professional renters. Key nearby employers include IBM, Netflix, eBay, Adobe, and PayPal.
- IBM Silicon Valley Lab — enterprise technology (15.1 miles)
- Netflix — streaming & media tech (26.4 miles) — HQ
- eBay — ecommerce marketplace (26.6 miles) — HQ
- Adobe Systems — software (27.4 miles)
- PayPal Holdings — digital payments (30.8 miles) — HQ
This 34‑unit, 1976‑vintage asset in Gilroy benefits from neighborhood occupancy that ranks in the top quartile among 344 metro neighborhoods and from a high‑cost ownership backdrop that tends to reinforce reliance on rentals. Within a 3‑mile radius, population and households have increased with further growth projected, expanding the renter pool and supporting occupancy stability and renewal performance.
According to CRE market data from WDSuite, neighborhood rents and NOI per unit benchmark above national medians, while rent‑to‑income levels indicate manageable affordability pressure that can aid retention. The property’s slightly older vintage versus local averages points to a targeted value‑add path—modernization of interiors and building systems—to compete effectively against newer stock.
- Top‑quartile neighborhood occupancy and strong renter concentration support income durability.
- High home values in Santa Clara County help sustain multifamily demand and pricing power.
- 3‑mile radius growth in households and incomes expands the tenant base for leasing and renewals.
- 1976 vintage offers value‑add potential through targeted renovations and system upgrades.
- Risks: below‑average safety metrics and lower school ratings require prudent underwriting and onsite mitigations.