| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 51st | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 90 Keystone Ave, Morgan Hill, CA, 95037, US |
| Region / Metro | Morgan Hill |
| Year of Construction | 1976 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
90 Keystone Ave, Morgan Hill Multifamily Investment
Neighborhood occupancy sits in the mid-90s, supporting stable rent rolls and steady leasing, according to WDSuite’s CRE market data. Elevated ownership costs in Morgan Hill reinforce renter reliance on multifamily housing, which can underpin consistent demand.
Morgan Hill’s neighborhood around 90 Keystone Ave rates B+ and is competitive among San Jose–Sunnyvale–Santa Clara neighborhoods (ranked 106 of 344), indicating solid livability and demand drivers without the pricing extremes of core Silicon Valley submarkets. Dining and daily-needs access are strengths, with restaurant and grocery density testing in the higher national percentiles, which helps support retention and day-to-day convenience for residents.
The area skews to a mixed tenure base: the share of housing units that are renter-occupied is in the mid-40% range for the neighborhood, suggesting a meaningful renter pool to support multifamily absorption. Neighborhood occupancy is approximately 95.5% (measured for the neighborhood, not this property), a positive indicator for income stability and renewal velocity in comparable assets. While average school ratings trend below national midpoints, parks and childcare availability register well above national averages, aligning with family-oriented renter profiles common in the Inner Suburb context.
Within a 3-mile radius, demographics show recent population growth alongside a modest increase in households, expanding the tenant base. Forward-looking estimates indicate households may continue to rise even as population slips slightly, implying smaller household sizes and ongoing demand for rental units that fit a variety of budgets and configurations. High median household incomes in the 3-mile area support rent collections and renewal probability, while still requiring attentive lease management given Bay Area cost structures.
Home values in the neighborhood are elevated versus national benchmarks, and the value-to-income ratio ranks in the upper percentiles nationally. In this high-cost ownership market, multifamily rents tested near national upper percentiles while rent-to-income ratios remain around one-fifth locally, which can sustain occupancy and pricing power for well-managed properties.
Comparable safety insights for this specific neighborhood are not available in WDSuite’s current dataset. Investors typically benchmark against city and metro trends and focus on well-lit, amenity-rich corridors near daily services and transit to support resident comfort and retention.
Proximity to major tech and enterprise offices broadens the professional renter base and supports retention through commute convenience. Key nearby employers include IBM Silicon Valley Lab, eBay, Adobe, Netflix, and PayPal.
- IBM Silicon Valley Lab — technology R&D offices (6.8 miles)
- eBay — e-commerce marketplace (18.7 miles) — HQ
- Adobe Systems — software (19.1 miles)
- Netflix — streaming/media (19.1 miles) — HQ
- PayPal Holdings — payments (22.4 miles) — HQ
This 72-unit asset, built in 1976, is older than the neighborhood’s average vintage and presents practical value-add potential through targeted renovations and systems upgrades. The surrounding neighborhood shows competitive performance within the San Jose–Sunnyvale–Santa Clara metro, and neighborhood occupancy is in the mid-90s (a neighborhood metric), supporting income durability. Elevated for-sale housing costs continue to reinforce rental demand, while high local incomes support collections and renewal probability.
Based on commercial real estate analysis using WDSuite’s CRE market data, the area’s amenity depth, strong employer base within commuting distance, and a sizable renter-occupied share create a durable foundation for leasing. Forward views point to continued household growth within a 3-mile radius even as population growth moderates, which can broaden the tenant base and support occupancy stability; disciplined operations and select upgrades can position the property competitively versus newer stock.
- Occupancy in the surrounding neighborhood sits near the mid-90s, supporting stable cash flow potential for well-managed assets.
- High-cost ownership market sustains multifamily demand and strengthens renewal and leasing prospects.
- 1976 vintage offers value-add and CapEx pathways to improve competitive positioning and NOI.
- Deep employment base within 20–25 miles (IBM, eBay, Adobe, Netflix, PayPal) supports a professional renter pool.
- Risks: older building systems and below-median school ratings require active asset management and targeted upgrades to sustain pricing power.