| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 89th | Best |
| Demographics | 81st | Best |
| Amenities | 39th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 60 Mihalakis St, Milpitas, CA, 95035, US |
| Region / Metro | Milpitas |
| Year of Construction | 2008 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
60 Mihalakis St, Milpitas CA Multifamily Investment
Positioned in a high-income Silicon Valley neighborhood with a sizable renter base, this asset benefits from steady local demand and proximity to major employers, according to WDSuite’s CRE market data. Neighborhood metrics such as occupancy and renter concentration reflect area dynamics rather than the property itself.
The property sits in Milpitas’ Urban Core, where neighborhood fundamentals are competitive among San Jose–Sunnyvale–Santa Clara metro subareas. Housing and demographic indicators rank in the top quartile among 344 metro neighborhoods, pointing to strong incomes and a deep tenant pool. Local occupancy for the neighborhood is 93.2%, indicating generally stable leasing conditions even if slightly below metro leaders.
Daily needs are serviceable: restaurant and grocery density track around or above national norms, while parks, pharmacies, and cafes are comparatively limited. Average school ratings are strong (about 4.5 out of 5), and the neighborhood’s demographics rank is top quartile in the metro, which aligns with family appeal and potential lease retention for larger floor plans.
Renter-occupied share in the neighborhood is elevated at 52.4%, signaling a deep base of prospective tenants and reinforcing demand for multifamily. Median contract rents rank high nationally while the local rent-to-income ratio of roughly 0.17 suggests manageable affordability pressure for many households — supportive of occupancy and disciplined pricing strategies.
Within a 3-mile radius, demographics show population growth over the last five years alongside a faster increase in households, expanding the potential renter pool. Forward-looking estimates point to continued household growth even as average household size trends lower, implying more households competing for units and supporting occupancy stability. Elevated home values in the neighborhood signal a high-cost ownership market, which tends to sustain multifamily demand and lease retention.
Vintage context: the asset was built in 2008, a few years older than the neighborhood’s average construction year. This positioning is generally competitive in Silicon Valley but may warrant targeted modernization over the hold to maintain positioning versus newer stock.
Neighborhood safety indicators track below both metro averages and national percentiles. Within the San Jose–Sunnyvale–Santa Clara metro, the neighborhood’s crime ranking is closer to the bottom among 344 neighborhoods, and national percentiles indicate comparatively lower safety. Recent year-over-year readings suggest a noticeable uptick in both property and violent offenses.
For investors, this points to prudent underwriting that considers security measures, lighting and access controls, and potential partnerships with local programs. Positioning, tenant screening, and on-site management strategies can help mitigate risk and support retention.
Proximity to major tech, life sciences, and financial services employers supports a steady commuter tenant base and underpins leasing stability for workforce and professional renters. Nearby firms include Bristol-Myers Squibb, Qualcomm, Avnet, Charles Schwab, and Sanmina.
- Bristol-Myers Squibb — pharmaceuticals (0.57 miles)
- Qualcomm — wireless technology (0.77 miles)
- Avnet — electronics distribution (1.45 miles)
- Charles Schwab — financial services (1.76 miles)
- Sanmina — electronics manufacturing (1.87 miles) — HQ
This 32-unit 2008-vintage asset is positioned in a high-income, renter‑oriented pocket of Silicon Valley where neighborhood occupancy is about 93% and median rents are elevated nationally. Household growth within a 3‑mile radius has outpaced population growth, expanding the tenant base and supporting lease-up and renewal prospects. Elevated home values indicate a high-cost ownership market, which historically sustains multifamily demand and pricing discipline. According to CRE market data from WDSuite, the neighborhood rates well on housing and demographics relative to the metro, aiding long-term leasing stability.
Relative to the neighborhood’s newer average vintage, selective renovations and systems upgrades can keep the property competitive against recent deliveries while targeting value-add upside. Underwriting should account for local safety readings that trail metro norms and amenity gaps (parks, pharmacies), but proximity to major employers and strong incomes provide durable fundamentals over a long hold.
- Renter concentration and high incomes support demand depth and renewal potential
- Household growth (3-mile) expands the tenant base despite smaller household sizes
- 2008 vintage with targeted modernization can compete with newer stock
- Elevated ownership costs reinforce reliance on multifamily housing
- Risks: below-metro safety readings and limited nearby parks/pharmacies