| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Good |
| Demographics | 41st | Poor |
| Amenities | 72nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8340 Kern Ave, Gilroy, CA, 95020, US |
| Region / Metro | Gilroy |
| Year of Construction | 1994 |
| Units | 56 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
8340 Kern Ave, Gilroy CA Multifamily Opportunity
Neighborhood occupancy is strong and renter demand is supported by a high-cost ownership market, according to WDSuite’s CRE market data. This positioning favors steady leasing in Gilroy while allowing disciplined operators to manage affordability and retention.
The property sits in Gilroy within the San Jose–Sunnyvale–Santa Clara metro, where the surrounding neighborhood rates B- (ranked 167 out of 344 metro neighborhoods). Occupancy in the neighborhood is in the top decile nationally, suggesting durable demand for rentals relative to both the metro and U.S. benchmarks. Median contract rents in the neighborhood track in the upper national tier, and the rent-to-income profile indicates manageable affordability pressure for many households, which can support lease stability.
Local amenities are a relative strength: parks and groceries score in the upper national percentiles, and neighborhood childcare density ranks competitively, helping serve family-oriented renters. Café and restaurant density are above national medians as well. Pharmacy access is limited in the immediate area, which investors may factor into resident convenience expectations.
Home values in the neighborhood are elevated versus national norms (top decile nationally), reinforcing reliance on multifamily for households that prioritize commute access within the South Bay. This high-cost ownership market tends to support renter retention and pricing power for well-managed assets, particularly those with practical amenities and larger floor plans.
Vintage context matters: the average neighborhood construction year is 1978, while this asset’s 1994 delivery provides a relative advantage versus older local stock. Newer bones can reduce near-term competitive pressure against 1970s-era product, though investors should still underwrite ongoing system updates and selective renovations to meet current renter expectations.
Within a 3-mile radius, population and households have grown in recent years and are projected to expand further by 2028, pointing to a larger tenant base ahead. Income levels in the 3-mile trade area skew high compared with national averages, supporting rent performance for quality assets. The neighborhood’s renter-occupied housing share is above the U.S. median, indicating a deeper tenant pool and demand depth for multifamily.
Relative to the San Jose–Sunnyvale–Santa Clara metro, the neighborhood’s safety profile is below the metro median (crime rank 265 out of 344), and it sits below the national median by percentile. For investors, this calls for prudent security measures and operational attention to lighting, access control, and resident engagement.
Recent trends are mixed: property offense rates have been easing year over year, while violent offense indicators have moved higher. Framed conservatively, the area is not among the metro’s stronger performers on safety, so underwriting should include appropriate reserves and risk management without assuming rapid improvement.
Proximity to major South Bay employers supports a commuter renter base and broadens leasing demand. Nearby corporate anchors include IBM Silicon Valley Lab, Netflix, eBay, Adobe Systems, and PayPal Holdings.
- IBM Silicon Valley Lab — technology R&D offices (15.1 miles)
- Netflix — streaming & media HQ (26.5 miles) — HQ
- eBay — ecommerce HQ (26.7 miles) — HQ
- Adobe Systems — software offices (27.4 miles)
- PayPal Holdings — fintech HQ (30.8 miles) — HQ
This 56-unit 1994-vintage property offers relative competitiveness versus older neighborhood stock, with larger average floor plans that can appeal to family and workforce renters. Neighborhood occupancy sits in a nationally strong tier and home values are elevated, which together support a resilient renter base and steady leasing. According to CRE market data from WDSuite, the area’s renter concentration is above national medians, indicating depth of demand even as operators should manage affordability and retention.
Within a 3-mile radius, population and household counts have risen and are projected to continue growing by 2028, signaling renter pool expansion that can support occupancy stability. While the neighborhood’s safety standing is below the metro median and school ratings are weaker than many South Bay submarkets, disciplined capital planning—targeted renovations, security enhancements, and resident experience—can position the asset to capture demand driven by proximity to South Bay employment and the high-cost ownership landscape.
- Strong neighborhood occupancy and high-cost ownership support steady rental demand
- 1994 vintage offers competitive positioning vs. 1970s local stock with value-add potential
- 3-mile trade area shows ongoing growth in households and income, supporting leasing
- Proximity to major South Bay employers underpins workforce renter base
- Risks: below-metro safety metrics and lower school ratings warrant prudent operations and budgeting