| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Good |
| Demographics | 41st | Poor |
| Amenities | 72nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 861 Monticelli Dr, Gilroy, CA, 95020, US |
| Region / Metro | Gilroy |
| Year of Construction | 2003 |
| Units | 26 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
861 Monticelli Dr Gilroy Multifamily Investment
This 26-unit property benefits from elevated neighborhood-level occupancy rates at 98.3% and proximity to Silicon Valley employment centers. According to WDSuite's CRE market data, the high renter concentration and strong rental demand fundamentals support stable cash flow potential.
Built in 2003, this property offers newer construction compared to the neighborhood average of 1978, potentially reducing near-term capital expenditure needs while providing competitive positioning in the local rental market. The neighborhood demonstrates strong rental fundamentals with 98.3% occupancy rates, ranking in the top quartile among 344 metro neighborhoods.
Demographics within a 3-mile radius show household income growth of 36% over five years, with median household incomes reaching $119,232. The area maintains 39.5% renter-occupied housing units, indicating solid depth in the tenant base. Projected population growth of 3.9% through 2028 suggests expanding renter pool that could support occupancy stability and lease retention.
The neighborhood's median home values of $921,896 represent the 97th percentile nationally, with home-to-income ratios at 7.2x. These elevated ownership costs sustain rental demand by limiting accessibility to homeownership, reinforcing tenant reliance on multifamily housing. Median contract rents of $2,173 reflect the 93rd percentile nationally, though rent-to-income ratios at 0.20 suggest manageable affordability pressure for the income profile.
Local amenities support tenant appeal with above-average access to childcare facilities (99th percentile nationally) and parks (93rd percentile). The area ranks in the 72nd percentile for overall amenity density, though pharmacy access is limited. School ratings average 1.5 out of 5, which may influence family tenant retention but reflects broader regional patterns.
Safety metrics present mixed signals requiring careful consideration. The neighborhood ranks 265th out of 344 metro neighborhoods for overall crime, placing it in the lower portion of regional comparisons. Property crime rates show improvement with a 10.4% decline year-over-year, though violent crime rates increased 87.7% during the same period.
At the 29th percentile nationally for crime, the area performs below average compared to neighborhoods nationwide. Investors should factor these safety considerations into tenant screening, property management protocols, and insurance planning. The declining property crime trend offers some positive momentum, but the volatile nature of crime statistics warrants ongoing monitoring.
The property benefits from proximity to major Silicon Valley technology employers, supporting workforce housing demand from high-income professionals commuting to corporate campuses.
- IBM Silicon Valley Lab — technology research (14.4 miles)
- Netflix — streaming media services (25.9 miles) — HQ
- Ebay — e-commerce platform (26.0 miles) — HQ
- Adobe Systems — software development (26.7 miles)
- Paypal Holdings — financial technology (30.1 miles) — HQ
This 26-unit Gilroy property presents a value-oriented entry into the Silicon Valley rental market with neighborhood-level occupancy at 98.3%, ranking in the top quartile regionally. The 2003 construction year provides newer building systems compared to the 1978 neighborhood average, potentially reducing immediate capital requirements while maintaining competitive appeal. Elevated home values at $921,896 and home-to-income ratios of 7.2x create structural rental demand by limiting homeownership accessibility for area households.
Demographics within a 3-mile radius support long-term fundamentals, with household income growth of 36% over five years and projected population increases of 3.9% through 2028. The 39.5% renter-occupied housing share indicates established rental demand depth. However, according to multifamily property research, safety metrics require attention with the neighborhood ranking 265th of 344 metro areas for crime, though property crime trends show recent improvement.
- Top quartile neighborhood occupancy at 98.3% supports cash flow stability
- 2003 construction provides competitive positioning and reduced near-term capex needs
- High home values at 7.2x income ratio sustain structural rental demand
- Proximity to Silicon Valley employers within 15-30 mile commute radius
- Risk consideration: Below-average safety metrics require enhanced management protocols