| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 67th | Fair |
| Amenities | 52nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18555 Butterfield Blvd, Morgan Hill, CA, 95037, US |
| Region / Metro | Morgan Hill |
| Year of Construction | 1998 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
18555 Butterfield Blvd, Morgan Hill Multifamily Opportunity
Neighborhood occupancy is strong and above the metro median, according to WDSuite’s CRE market data, pointing to stable renter demand at the submarket level. These occupancy indicators reflect the surrounding neighborhood rather than this specific property.
Located in Morgan Hill within the San Jose–Sunnyvale–Santa Clara metro, the neighborhood is rated B+ and is competitive among San Jose neighborhoods (ranked 98 out of 344). Restaurants, groceries, and daily conveniences index above national medians, supporting day-to-day livability that helps leasing and retention.
Schools in the area average above national medians, which can bolster family-oriented demand and longer tenures for larger floorplans. Amenity access is competitive among metro peers, with grocery and dining density in higher national percentiles, while park access is thinner and may require residents to rely on regional open space.
The local housing landscape is a high-cost ownership market (home values in upper national percentiles), which tends to reinforce reliance on multifamily for households that value flexibility. Within a 3-mile radius, the share of housing units that are renter-occupied is around one-third, indicating a meaningful tenant base without oversaturation; this supports steady absorption and reduces volatility risk relative to very renter-heavy areas.
Neighborhood occupancy is above the metro median with a recent upward trend, signaling resilient demand across cycles. Median household incomes are in upper national percentiles, which can support collections and reduce turnover risk, though operators should remain mindful of pricing relative to rent-to-income thresholds to sustain renewal rates.
The property’s 1998 vintage is older than the neighborhood’s average construction year (2006). That age gap suggests potential value-add through targeted renovations and systems updates, as well as the need for proactive capital planning to maintain competitiveness against newer stock.
WDSuite does not report a comparable crime rank for this neighborhood in the current release. Investors often contextualize safety using city and county trend reports alongside on-the-ground diligence to gauge tenant retention and leasing risk. Absent a metro rank or national percentile, it is prudent to benchmark against broader regional trends rather than drawing block-level conclusions.
Proximity to major tech and enterprise employers underpins workforce housing demand and commute convenience, notably to IBM Silicon Valley Lab, eBay, Adobe, Netflix, and PayPal. This concentration supports leasing durability for residents tied to South Bay and Downtown San Jose job centers.
- IBM Silicon Valley Lab — corporate offices (5.9 miles)
- eBay — corporate offices (17.8 miles) — HQ
- Adobe Systems — corporate offices (18.1 miles)
- Netflix — corporate offices (18.3 miles) — HQ
- PayPal Holdings — corporate offices (21.4 miles) — HQ
This 80-unit, 1998-vintage asset sits in a competitive suburban node of the San Jose metro where neighborhood occupancy trends are above the metro median and have edged higher, indicating durable renter demand and potential for steady cash flow. Elevated home values in the area sustain renter reliance on multifamily, while higher-income households support collections and reduce turnover when pricing is managed to maintain renewal intent.
The property is slightly older than the neighborhood’s average stock, creating clear value-add angles through interior updates and system modernization to defend positioning versus 2000s-era and newer comparables. Based on commercial real estate analysis from WDSuite, amenities and schools score above national medians, helping with family and professional renter appeal, though thinner park access and ongoing capital needs should be underwritten.
- Above-metro neighborhood occupancy supports stability and pricing discipline
- High-cost ownership market reinforces depth of the renter pool
- 1998 vintage offers value-add potential via renovations and system upgrades
- Amenity and school measures above national medians aid retention
- Risks: aging systems, thinner park access, and need to stay aligned with rent-to-income levels