| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Fair |
| Demographics | 76th | Good |
| Amenities | 43rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 614 W Parr Ave, Los Gatos, CA, 95032, US |
| Region / Metro | Los Gatos |
| Year of Construction | 1985 |
| Units | 107 |
| Transaction Date | 2012-12-13 |
| Transaction Price | $14,999,750 |
| Buyer | HPD VILLA VASONA LP |
| Seller | VILLA VASONA LTD |
614 W Parr Ave Los Gatos Multifamily Investment
Neighborhood occupancy is steady and supported by high-income renter demand in an Inner Suburb location, according to WDSuite’s CRE market data for the surrounding area. Elevated home values in Los Gatos tend to sustain multifamily leasing and retention across cycles.
Located in Los Gatos within the San Jose–Sunnyvale–Santa Clara metro, the neighborhood carries a B rating and functions as an Inner Suburb with strong incomes and stable housing dynamics. Neighborhood occupancy is about 95% and above the national median, which supports baseline leasing durability for multifamily assets nearby (measured for the neighborhood, not the property).
Amenity access is mixed: restaurants are comparatively dense (top quintile nationally), while cafes, parks, and groceries are sparse within close proximity. Childcare and pharmacies score well versus national benchmarks, which can help everyday convenience for residents without relying on downtown cores.
Renter concentration at the neighborhood level is roughly one-third to two-fifths of occupied housing, indicating a meaningful tenant base while still skewing toward ownership. For investors, that mix can translate into demand stability from households preferring professionally managed apartments, with pricing set against a high-cost ownership market and lease retention supported by strong household incomes.
Within a 3-mile radius, demographics point to modest population growth and a projected increase in households over the next five years, expanding the local renter pool. Median contract rents and household incomes are both high for the region, and home values are elevated versus national norms—factors that tend to sustain multifamily demand and reduce turnover risk over time.
Vintage and competitive positioning
The property’s 1985 construction is newer than the neighborhood’s average vintage (1973). That relative youth generally supports competitive positioning versus older stock, while still warranting targeted modernization and systems updates as part of a value-preservation or value-add plan.
Safety indicators for the neighborhood sit around the national midpoint overall, with violent-offense measures comparing somewhat better than average nationwide. Property-offense levels compare favorably versus national peers but have shown a recent year-over-year uptick; investors should monitor trend direction rather than any single period.
Framing these signals comparatively helps set expectations: performance is broadly in line with national norms and varies within the metro. As always, property-level controls, lighting, and access management can materially influence resident experience regardless of wider-area trends.
The area is anchored by major technology employers, supporting a deep professional workforce and convenient commutes for renters. The nearby base includes Netflix, eBay, Apple, Adobe, and Nvidia.
- Netflix — video streaming (0.3 miles) — HQ
- eBay — e-commerce (3.0 miles) — HQ
- Apple — consumer technology (5.9 miles) — HQ
- Adobe Systems — software (6.1 miles)
- Nvidia — semiconductors (7.4 miles) — HQ
614 W Parr Ave is a 107-unit, 1985-vintage asset positioned in a high-income Los Gatos submarket where neighborhood occupancy trends near the mid-90s. Elevated home values and strong wages support renter reliance on multifamily housing, while the tech employment base underpins demand stability and retention. Based on CRE market data from WDSuite, neighborhood rent levels are among the higher tiers regionally, aligning with the area’s income profile and reinforcing long-term leasing fundamentals.
Relative to the neighborhood’s older average vintage, the property’s construction year offers competitive differentiation versus 1970s-era stock, though investors should plan for selective modernization to protect NOI. Within a 3-mile radius, modest population growth and an expected increase in households point to a larger tenant base over the next five years, which supports occupancy stability and measured pricing power if managed with attention to affordability and lease renewal strategies.
- High-income submarket with elevated ownership costs that reinforce multifamily demand and lease retention
- 1985 vintage is newer than area averages, offering a competitive edge with targeted upgrades
- Proximity to major tech employers supports a deep professional renter pool and stable occupancy
- 3-mile demographics indicate population growth and household expansion, adding depth to future tenant demand
- Risks: recent uptick in property-offense reports and limited nearby daily amenities (cafes/groceries/parks) warrant asset-level mitigation