| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 51st | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 170 Wright Ave, Morgan Hill, CA, 95037, US |
| Region / Metro | Morgan Hill |
| Year of Construction | 1977 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
170 Wright Ave, Morgan Hill CA Multifamily Investment
Neighborhood fundamentals point to stable renter demand and high occupancy at the neighborhood level, according to WDSuite s CRE market data, in a submarket where ownership costs are elevated and renters value proximity to South Silicon Valley employers.
Situated in Morgan Hill within the San Jose Sunnyvale Santa Clara metro, the neighborhood is rated B+ and is competitive among metro peers (ranked 106 out of 344 neighborhoods). For multifamily investors, that standing indicates balanced livability and steady renter demand without relying on premium, core pricing.
Local renter demand benefits from a high-cost ownership market. Neighborhood home values sit in the upper tier nationally, and the value-to-income ratio also ranks high compared with U.S. neighborhoods. This dynamic tends to sustain reliance on rental housing, supporting occupancy stability and pricing discipline over the cycle.
Amenities are a relative strength: restaurants and parks score in the top quartile nationally, with childcare density also strong. Pharmacy access is limited within the immediate neighborhood, which may modestly affect convenience for some residents. Average school ratings track below national norms (about 2 out of 5), which can influence family-oriented leasing strategies, but strong childcare availability helps offset day-to-day needs.
From a rental market standpoint, neighborhood occupancy trends are solid with occupancy in the mid-90s at the neighborhood level, and asking rents benchmark above national norms. Renter concentration within the neighborhood measures above the national median, indicating a meaningful tenant base. Demographic statistics within a 3-mile radius show recent population growth alongside a modest increase in households; forward-looking estimates indicate a small population dip while households expand, implying slightly smaller household sizes and a larger pool of renting households supportive of lease-up and renewal activity.
Vintage context matters: the neighborhood s average construction year is 1992, while this asset was built in 1977. That age gap suggests potential value-add through targeted renovations and systems modernization to remain competitive versus newer stock.
Comparable neighborhood crime metrics are not available in this dataset. Investors should contextualize safety using city and submarket trends and on-the-ground diligence while monitoring changes over time. Where data is available, WDSuite s CRE market data is used to benchmark neighborhoods against metro and national patterns, but absent figures here we avoid block-level or comparative claims.
The employment base draws from South Silicon Valley and greater San Jose technology offices, supporting commuter convenience and a steady renter pool for workforce and professional households. Nearby anchors include IBM Silicon Valley Lab, eBay, Adobe, Netflix, and PayPal Holdings.
- IBM Silicon Valley Lab technology R&D (6.5 miles)
- eBay e-commerce & payments (18.4 miles) HQ
- Adobe Systems software (18.8 miles)
- Netflix streaming & media tech (18.8 miles) HQ
- Paypal Holdings financial technology (22.1 miles) HQ
170 Wright Ave offers exposure to a competitive South Bay suburb where neighborhood occupancy trends are healthy and renter demand is underpinned by a high-cost ownership landscape. Based on CRE market data from WDSuite, the surrounding neighborhood ranks competitively within the San Jose Sunnyvale Santa Clara metro and shows amenity depth (restaurants, parks, childcare) supportive of retention. The 1977 vintage is older than nearby averages, creating clear value-add and capex planning angles to sharpen positioning against newer stock.
Within a 3-mile radius, recent population growth and an expected increase in households point to a larger tenant base even as household sizes edge lower, which can support occupancy stability and leasing velocity. Elevated ownership costs reinforce reliance on multifamily housing, while rent levels relative to incomes suggest room for disciplined revenue management rather than aggressive push assumptions.
- Competitive neighborhood standing in the San Jose metro supports durable renter demand and occupancy
- High-cost ownership market sustains rental reliance and pricing power potential
- Amenity depth (restaurants, parks, childcare) enhances resident retention and leasing
- 1977 vintage provides value-add and systems-upgrade pathways to compete with newer stock
- Risks: lower average school ratings, limited pharmacy access, and mixed population vs. household trends warrant cautious underwriting