| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Poor |
| Demographics | 54th | Poor |
| Amenities | 8th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18300 Carriage Dr, Morgan Hill, CA, 95037, US |
| Region / Metro | Morgan Hill |
| Year of Construction | 1984 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
18300 Carriage Dr Morgan Hill Multifamily Investment
This 27-unit property built in 1984 benefits from neighborhood-level occupancy above 95% in a high-income Silicon Valley submarket. According to WDSuite's CRE market data, the area's elevated home values sustain rental demand while proximity to major tech employers supports tenant stability.
The Morgan Hill neighborhood ranks in the top quartile nationally for safety and maintains strong occupancy fundamentals, with neighborhood-level occupancy at 95.7%. The area demonstrates resilience in high-cost Silicon Valley markets, where median home values of $1.2 million limit ownership accessibility and reinforce reliance on rental housing. With only 10.5% of housing units renter-occupied, this creates a concentrated but stable tenant pool in a predominantly owner-occupied environment.
Built in 1984, this property represents newer construction compared to the neighborhood average of 1955, potentially reducing near-term capital expenditure needs while offering competitive positioning among area housing stock. Demographics within a 3-mile radius show household income growth of 50% over five years, reaching a median of $159,621, which supports rental affordability and lease retention potential.
The area's suburban character limits walkable amenities, with minimal restaurant, cafe, and retail density per square mile. However, rent-to-income ratios remain favorable at 10%, indicating manageable affordability pressure for tenants. Population projections show modest household growth of 23% through 2028, suggesting continued demand for rental housing despite the area's ownership-oriented profile.
The neighborhood demonstrates strong safety metrics, ranking 14th out of 344 San Jose metro neighborhoods for overall crime performance. This places the area in the 75th percentile nationally for safety, with property crime rates significantly below regional averages and violent crime rates in the 87th percentile nationwide.
Recent trends show property crime declining by 48% year-over-year, indicating improving conditions that support tenant retention and property values. The combination of low crime rates and positive safety trends contributes to the area's appeal for families and long-term renters in the Silicon Valley market.
The property benefits from proximity to major Silicon Valley employers, providing workforce housing for technology and corporate professionals within commutable distance of key job centers.
- IBM Silicon Valley Lab — technology research and development (5.9 miles)
- Ebay — e-commerce and technology services (17.8 miles) — HQ
- Adobe Systems — software and creative technology (18.2 miles)
- Netflix — streaming and entertainment technology (18.2 miles) — HQ
- Paypal Holdings — financial technology and payments (21.6 miles) — HQ
This Morgan Hill property offers exposure to Silicon Valley's high-income rental market with favorable occupancy dynamics and proximity to major technology employers. The 1984 construction year provides competitive positioning relative to older neighborhood housing stock, while elevated home values create barriers to ownership that sustain multifamily demand. According to CRE market data from WDSuite, the area's strong safety profile and household income growth support long-term tenant retention potential.
Demographics within a 3-mile radius show projected household growth of 23% through 2028, expanding the potential tenant base while maintaining high-income characteristics that support rental pricing power. The property's 27-unit scale offers manageable operations while benefiting from the area's low crime rates and proximity to major employers including IBM, eBay, and Netflix headquarters.
- Neighborhood-level occupancy above 95% indicates strong rental demand fundamentals
- High median home values of $1.2 million sustain reliance on rental housing
- Proximity to major Silicon Valley employers supports workforce housing demand
- 1984 construction provides competitive advantage over neighborhood average of 1955
- Limited amenity density and 10.5% renter concentration may constrain tenant pool growth