| 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 | 1999 |
| Units | 72 |
| Transaction Date | 1998-11-02 |
| Transaction Price | $800,000 |
| Buyer | DUNNE BUTTERFIELD APARTMENTS LP |
| Seller | GARRISON ELMER R |
230 E Dunne Ave Morgan Hill Multifamily Investment
Neighborhood occupancy has trended strong, supporting income stability for well-run assets, according to WDSuite’s CRE market data. Position within Silicon Valley’s south corridor offers durable renter demand and diversified employment access.
Morgan Hill’s inner-suburb setting delivers daily convenience with a solid amenity mix relative to national norms. Neighborhood measures for groceries, pharmacies, restaurants, and cafes sit above U.S. averages, while parks are limited in the immediate area. School ratings trend below metro and national benchmarks, which family-oriented operators should weigh in leasing strategy and retention planning.
For multifamily investors, the neighborhood’s occupancy performance is a core strength: the area is in the top quartile among 344 San Jose–Sunnyvale–Santa Clara metro neighborhoods and compares favorably at the national level. Renter-occupied housing concentration is meaningful, indicating a deep tenant base and underpinning demand for mid-size assets. Median asking rents benchmark above national levels, but local rent-to-income ratios indicate manageable affordability pressure that can support retention with disciplined lease management.
Within a 3-mile radius, demographics show recent population growth alongside rising household counts and incomes; forward-looking projections indicate a modest population dip but continued household gains, suggesting smaller household sizes and a larger pool of potential renters by address. Elevated single-family home values in the neighborhood, well above national norms, create a high-cost ownership market that tends to sustain reliance on rental housing and can support pricing power for competitive assets.
The property’s 1999 construction is newer than the neighborhood’s average vintage (early 1990s). That positions the asset as relatively competitive versus older stock, while still warranting targeted modernization of interiors and systems to drive rent readiness and limit long-term capital surprises.
Safety indicators for the neighborhood generally compare around or slightly better than national norms. Recent data shows a year-over-year decline in property offenses, while violent offense measures increased from a low base. Compared with other neighborhoods in the San Jose–Sunnyvale–Santa Clara metro, conditions are competitive but mixed, warranting routine monitoring and standard security best practices.
Proximity to major Silicon Valley employers supports a stable renter pipeline and commute convenience for professional households. The companies below represent a diversified tech employment base within typical commuting distance of the property.
- IBM Silicon Valley Lab — technology R&D (7.4 miles)
- Ebay — e-commerce & payments (19.4 miles) — HQ
- Adobe Systems — software (19.7 miles)
- Netflix — streaming & media (19.8 miles) — HQ
- Paypal Holdings — payments (23.0 miles) — HQ
This 72-unit, mid-size asset benefits from durable neighborhood fundamentals: top-quartile occupancy among San Jose–Sunnyvale–Santa Clara neighborhoods, a meaningful share of renter-occupied housing, and connectivity to a broad tech employment base. Elevated local home values versus national norms reinforce reliance on multifamily, while rent-to-income dynamics suggest manageable affordability pressure that can support retention. According to CRE market data from WDSuite, the neighborhood’s amenity access is solid but park access is limited, and school ratings trend lower, favoring positioning toward workforce and professional renters.
Built in 1999, the property is newer than the area’s average vintage, offering relative competitiveness versus older stock with actionable value-add through targeted modernization of interiors and building systems. Within a 3-mile radius, household growth and higher incomes expand the potential renter base even as population projections soften modestly, indicating smaller household sizes and steady demand for well-located, professionally managed communities.
- Strong neighborhood occupancy supports income stability and leasing durability
- Elevated home values reinforce renter reliance and pricing power for competitive assets
- 1999 vintage presents value-add potential via targeted modernization
- 3-mile household growth and high incomes expand the qualified tenant base
- Risks: limited park access, lower school ratings, and mixed safety trends warrant proactive management