| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Good |
| Demographics | 41st | Poor |
| Amenities | 72nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 841 Monticelli Dr, Gilroy, CA, 95020, US |
| Region / Metro | Gilroy |
| Year of Construction | 2003 |
| Units | 26 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
841 Monticelli Dr Gilroy 26-Unit Multifamily Investment
Neighborhood multifamily occupancy is strong and stable, supporting cash flow resilience according to WDSuite’s CRE market data. High-cost homeownership in Santa Clara County further underpins renter demand in this pocket of Gilroy.
Located in Gilroy within the San Jose–Sunnyvale–Santa Clara metro, the area around 841 Monticelli Dr shows durable multifamily fundamentals. Neighborhood occupancy is elevated (98.3% for the neighborhood), placing it competitive among San Jose–Sunnyvale–Santa Clara neighborhoods (rank 69 of 344) and high relative to national benchmarks. Renter-occupied share in the neighborhood is 43.8%, indicating a meaningful renter base that supports leasing velocity and retention.
Amenity access is a relative strength: parks and open space score in a high national percentile, while cafes and groceries are also well represented, which helps day-to-day livability. Childcare density is especially strong (near the top nationally), a supportive signal for family-oriented renters. One trade-off is limited pharmacy presence in the immediate neighborhood, which can modestly affect convenience for residents.
Home values in the neighborhood are elevated compared with national norms, which generally sustains reliance on rental housing and can support pricing power as leases turn. Median rents are also high by national standards, but the neighborhood’s rent-to-income ratio around 20% indicates manageable affordability pressure, aiding lease retention and occupancy stability.
Within a 3-mile radius, demographic data indicate a large household base with modest recent change and projections for growth ahead: households are expected to increase meaningfully over the next five years, expanding the potential renter pool. Average household size is higher than national norms, which can favor demand for larger floor plans. School ratings trend lower on average locally, which may reduce appeal for some households but does not preclude workforce housing demand.
Safety metrics for the neighborhood sit below the national median overall (around the 29th percentile nationally), so investors should underwrite with appropriate operational controls and tenant screening. Recent trends are mixed: estimated property offense rates have declined year over year, while estimated violent offense rates increased over the same period. These are neighborhood-level indicators rather than property-specific conditions and should be weighed alongside management practices and resident profile.
Regional employment anchors across the South Bay—spanning software, fintech, and enterprise technology—offer a broad white-collar base within commuting range, supporting renter demand and lease retention for workforce and professional tenants. Notable nearby employers include IBM, Netflix, eBay, Adobe, and PayPal.
- IBM Silicon Valley Lab — enterprise technology (14.5 miles)
- Netflix — streaming & media tech (25.9 miles) — HQ
- Ebay — e-commerce (26.1 miles) — HQ
- Adobe Systems — software (26.8 miles)
- Paypal Holdings — fintech (30.2 miles) — HQ
Constructed in 2003, the property is newer than the neighborhood’s average vintage, offering relative competitiveness versus older stock and potential for selective updates rather than full-scale capital replacement. Neighborhood occupancy is high and renter concentration is meaningful, reinforcing a stable tenant base even as ownership costs remain elevated in Santa Clara County. According to CRE market data from WDSuite, these dynamics are consistent with strong South Bay submarkets where high home values sustain multifamily demand.
Forward-looking demographics within a 3-mile radius point to growth in households and incomes over the next five years, expanding the renter pool and supporting rent roll durability. Livability is bolstered by parks, groceries, and childcare access, while investors should account for lower average school ratings, limited pharmacy presence, and safety positioning that sits below national medians.
- 2003 vintage offers relative competitiveness vs. older local stock with selective value-add potential
- High neighborhood occupancy and sizable renter-occupied share support leasing stability
- Elevated home values reinforce reliance on rental housing and pricing power
- 3-mile radius outlook indicates household and income growth, enlarging the renter pool
- Risks: below-median safety metrics, lower average school ratings, and limited pharmacy access