| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 39th | Poor |
| Amenities | 70th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 230 E Dunne Ave, Morgan Hill, CA, 95037, US |
| Region / Metro | Morgan Hill |
| Year of Construction | 1998 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
230 E Dunne Ave Morgan Hill Multifamily Investment
Neighborhood occupancy has held at high levels relative to the metro, supporting income stability for well-managed assets, according to WDSuite’s CRE market data.
Located in Morgan Hill’s inner suburban fabric of the San Jose–Sunnyvale–Santa Clara metro, the neighborhood posts strong occupancy and healthy renter demand signals. With an occupancy rate that ranks in the top quartile among 344 metro neighborhoods and a national standing in the low 90s percentiles, stabilized leasing conditions have been the norm rather than the exception.
Amenity access is competitive among San Jose–Sunnyvale–Santa Clara neighborhoods, with restaurants, cafes, groceries, pharmacies, and childcare density tracking above national averages. While parks are limited within the immediate area, daily-needs retail and services support resident convenience and retention—key considerations for multifamily assets targeting steady renewal velocity.
The property’s 1998 construction is newer than the neighborhood’s average vintage (1992). For investors, that typically means relatively better competitive positioning versus older stock, while still planning for selective system upgrades or modernization to enhance leasing performance and reduce future capex variability.
Within a 3-mile radius, demographics indicate recent population growth and an increase in households, with projections pointing to further household gains even as average household size moderates. This pattern generally expands the tenant base and supports occupancy stability. High-cost ownership conditions—reinforced by elevated home values and a value-to-income ratio near the top nationally—tend to sustain reliance on multifamily rentals and can support pricing power, while a rent-to-income profile around one-quarter suggests manageable affordability pressure that can aid lease retention.
Tenure data within 3 miles shows roughly one-third of housing units are renter-occupied, indicating a meaningful but not unlimited renter concentration. For investors, that translates to a steady pool of prospects anchored by local employment and commute patterns, with leasing strategies tailored to capture move-ups from nearby ownership-tilted blocks and households seeking more accessible rental options.
Safety indicators compare modestly better than national norms overall (mid-50s percentile nationally), according to CRE market data from WDSuite. Violent-offense measures trend safer than average nationwide (around the low-60s percentiles), while recent readings show an uptick that merits monitoring. Property-offense measures read notably safer than most neighborhoods nationally (mid-90s percentiles) with recent improvement, indicating relative resilience on theft and related incidents. Investors should evaluate property-level controls and lighting, and continue tracking neighborhood trends as part of ongoing risk management.
Proximity to major tech employers underpins renter demand through well-compensated households and manageable commute times. The immediate employment base features enterprise software, e-commerce, creative software, streaming, and digital payments—key sectors that support leasing stability for workforce and professional renters.
- IBM Silicon Valley Lab — enterprise software R&D (7.3 miles)
- eBay — e-commerce marketplace (19.3 miles) — HQ
- Adobe Systems — creative software (19.6 miles)
- Netflix — streaming & media (19.6 miles) — HQ
- PayPal Holdings — digital payments (22.9 miles) — HQ
This 72‑unit asset at 230 E Dunne Ave benefits from sustained neighborhood occupancy strength and a high-cost ownership market that supports renter reliance. Based on CRE market data from WDSuite, the surrounding neighborhood’s occupancy has been consistently elevated versus metro and national benchmarks, while household growth within 3 miles and moderating household sizes point to a larger tenant base over time. The 1998 vintage is newer than nearby averages, offering a competitive baseline relative to older product, with opportunity to drive returns through targeted renovations, energy-efficiency upgrades, and amenity refreshes.
High home values and a value-to-income profile near the top nationally reinforce multifamily demand and can support pricing power, while rent-to-income levels around one-quarter suggest manageable affordability pressure that can aid retention. Key underwriting considerations include school quality variability, limited park access, and monitoring recent violent-offense trends even as property-offense readings show improvement.
- Stabilized neighborhood occupancy supports income durability and lease-up confidence.
- High-cost ownership environment sustains rental demand and pricing power potential.
- 1998 vintage offers competitive positioning with targeted value-add and capex planning.
- Household growth and smaller household sizes within 3 miles expand the renter pool.
- Risks: variable school ratings, limited parks, and the need to monitor recent violent-offense trends.