| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 87th | Best |
| Demographics | 39th | Poor |
| Amenities | 70th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 310 E Dunne Ave, Morgan Hill, CA, 95037, US |
| Region / Metro | Morgan Hill |
| Year of Construction | 2003 |
| Units | 38 |
| Transaction Date | 2003-01-10 |
| Transaction Price | $1,837,000 |
| Buyer | MURPHY RANCH II LP |
| Seller | MURPHY RANCH LP |
310 E Dunne Ave Morgan Hill Multifamily Investment
This 38-unit property benefits from neighborhood-level occupancy of 98.3%, positioning it within the top quartile nationally for rental stability. According to WDSuite's CRE market data, the area's high owner-occupancy rates and elevated home values support sustained rental demand.
This Morgan Hill neighborhood ranks 169th among 344 metro neighborhoods, earning a B- rating with strong housing fundamentals. The area demonstrates solid occupancy stability with neighborhood-level rates of 98.3%, placing it in the top quartile nationally. Contract rents average $1,870 with 35.8% growth over five years, reflecting the broader Silicon Valley rental market dynamics.
Built in 2003, the property is newer than the neighborhood average construction year of 1992, positioning it competitively among area rental stock with reduced near-term capital expenditure needs. Demographics within a 3-mile radius show household growth of 3.0% over five years, supporting tenant pool expansion. The area's 70% homeownership rate and median home values exceeding $1 million create affordability barriers that can keep households in the rental market longer.
Amenity access ranks in the 70th percentile nationally, with strong childcare density (95th percentile) and restaurant availability (79th percentile) supporting tenant retention. The neighborhood's inner suburb classification provides access to employment centers while maintaining residential character that appeals to families and professionals.
The neighborhood demonstrates competitive safety metrics, ranking 87th among 344 metro neighborhoods and placing in the 56th percentile nationally for overall crime levels. Property crime rates are particularly low at 5.8 incidents per 1,000 residents, ranking 2nd best in the metro area and in the 94th percentile nationally.
While violent crime rates increased 71.8% year-over-year, the absolute rate remains moderate at 15.1 incidents per 100,000 residents, ranking 44th among metro neighborhoods. The strong property crime performance suggests effective security measures and community oversight that support tenant confidence and retention.
The property benefits from proximity to major Silicon Valley technology employers, providing workforce housing for professionals commuting to corporate campuses and headquarters throughout the region.
- IBM Silicon Valley Lab — technology research and development (7.5 miles)
- Ebay — e-commerce technology (19.4 miles) — HQ
- Adobe Systems — software development (19.7 miles)
- Netflix — streaming technology (19.8 miles) — HQ
- Paypal Holdings — financial technology (23.1 miles) — HQ
The property's 2003 construction year positions it newer than neighborhood norms, reducing immediate capital expenditure needs while maintaining competitive appeal in a market where neighborhood-level occupancy reaches 98.3%. Demographics within a 3-mile radius show household growth of 3.0% over five years, expanding the potential tenant base in an area where high homeownership costs support rental demand.
According to multifamily property research from WDSuite, the neighborhood's top quartile national ranking for occupancy stability, combined with proximity to major Silicon Valley employers within 25 miles, creates favorable conditions for consistent rental performance and tenant retention in this inner suburb location.
- Neighborhood occupancy of 98.3% ranks in top quartile nationally
- 2003 construction provides competitive positioning with lower near-term capital needs
- Household growth of 3.0% within 3-mile radius supports expanding tenant pool
- High homeownership costs ($1M+ median values) create rental market support
- Risk: Distance to major employers may limit appeal for commute-sensitive tenants