| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 89th | Best |
| Demographics | 81st | Best |
| Amenities | 39th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 81 Mihalakis St, Milpitas, CA, 95035, US |
| Region / Metro | Milpitas |
| Year of Construction | 2008 |
| Units | 37 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
81 Mihalakis St Milpitas Multifamily Investment
This 37-unit property built in 2008 benefits from neighborhood-level occupancy of 93.2% and strong local fundamentals. According to CRE market data from WDSuite, the area ranks in the top quartile nationally for net operating income per unit.
The Milpitas neighborhood demonstrates strong multifamily fundamentals, ranking 126th among 344 metro neighborhoods with a B+ rating. Built in 2008, this property aligns with the area's relatively new construction vintage, which averages 2012 and ranks 3rd metro-wide, indicating reduced near-term capital expenditure needs compared to older neighborhood stock.
Demographics within a 3-mile radius show household income growth of 71.2% over five years, reaching a median of $173,319. With 49.8% of housing units renter-occupied, the area maintains a balanced tenure mix that supports rental demand. The neighborhood's net operating income per unit averages $21,343, ranking 7th among metro neighborhoods and placing in the 99th percentile nationally.
Occupancy trends reflect market stability at 93.2% neighborhood-wide, though this represents a modest 3.8% decline over five years. Median contract rents of $3,133 rank 86th metro-wide and in the 99th percentile nationally, indicating strong pricing power. The area benefits from above-average school ratings of 4.5 out of 5 and grocery access, supporting tenant retention in this urban core location.
Crime metrics for this neighborhood show mixed signals that warrant monitoring. The area ranks 313th among 344 metro neighborhoods for overall crime, placing in the 8th percentile nationally. Property offense rates of 3,217 per 100,000 residents rank 290th metro-wide and in the 5th percentile nationally, indicating elevated property crime relative to other areas.
Violent crime rates are more moderate at 148 incidents per 100,000 residents, ranking 227th among metro neighborhoods and in the 25th percentile nationally. Both property and violent crime rates have shown significant year-over-year increases, though baseline data volatility should be considered when evaluating these trends for investment planning.
The property benefits from proximity to major technology and corporate employers that provide workforce housing demand within the Silicon Valley corridor.
- Bristol-Myers Squibb — pharmaceutical offices (0.6 miles)
- Qualcomm — technology offices (0.8 miles)
- Avnet — technology distribution (1.5 miles)
- Charles Schwab — financial services (1.8 miles)
- Sanmina — electronics manufacturing (1.9 miles) — HQ
This 37-unit property built in 2008 benefits from strong neighborhood fundamentals in a high-income Silicon Valley submarket. With median household income of $173,319 within a 3-mile radius and projected growth to $239,255 by 2028, the area demonstrates sustained demand drivers for workforce housing. The neighborhood's NOI per unit average of $21,343 ranks in the 99th percentile nationally, while occupancy remains stable at 93.2%.
The property's 2008 construction year aligns with neighborhood norms and provides a balance of modern amenities without immediate capital expenditure pressures. Proximity to major employers including Qualcomm, Bristol-Myers Squibb, and PayPal headquarters supports tenant demand, though elevated crime metrics require ongoing property management attention.
- Strong income demographics with 40.3% of households earning over $200,000 annually
- Neighborhood NOI per unit ranks 7th among 344 metro areas
- Proximity to major Silicon Valley employers supports tenant retention
- Risk consideration: Property crime rates rank in bottom quartile nationally