| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Good |
| Demographics | 76th | Good |
| Amenities | 46th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1950 Montecito Ave, Mountain View, CA, 94043, US |
| Region / Metro | Mountain View |
| Year of Construction | 1976 |
| Units | 34 |
| Transaction Date | 2007-11-02 |
| Transaction Price | $5,910,770 |
| Buyer | Rif Family Ptshp |
| Seller | Rex & Wendy Chian |
1950 Montecito Ave Mountain View Multifamily Investment
This 34-unit property benefits from Silicon Valley's affluent renter demographics and strong household incomes. Neighborhood occupancy rates reflect broader market dynamics according to WDSuite's CRE market data.
This Mountain View neighborhood ranks in the top quartile nationally for housing fundamentals, with a median household income of $197,516 within a 3-mile radius. The area maintains 52.5% renter-occupied housing units, supporting consistent rental demand in a market where elevated home values of $1.86 million reinforce renter reliance on multifamily housing.
Built in 1976, this property represents the neighborhood's average construction vintage of 1990, positioning it for potential value-add opportunities while maintaining competitive standing. Neighborhood-level occupancy rates of 87.7% reflect broader Silicon Valley dynamics, with rent growth of 44.1% over five years demonstrating strong pricing power despite current market adjustments.
The location offers above-average access to essential amenities, ranking in the 97th percentile nationally for childcare density and 91st percentile for grocery access. Demographics within a 3-mile radius show population growth of 1.6% over five years, with household income growth of 97.6% supporting tenant quality and retention potential in this established tech corridor.
Crime metrics show this neighborhood ranking 263rd among 344 metro neighborhoods, placing it in the lower half for safety performance. Property crime rates of 1,720 per 100,000 residents declined 6.8% year-over-year, indicating improving trends, though violent crime increased 37.7% over the same period.
The neighborhood's 29th percentile national ranking for overall crime suggests investors should factor security considerations into property management strategies and tenant screening processes. Market fundamentals remain strong despite these safety metrics, with institutional-quality tenants typical of the Silicon Valley employment base.
The property benefits from proximity to major Silicon Valley employers, supporting workforce housing demand from high-income technology professionals.
- Alphabet — technology services (1.2 miles) — HQ
- Symantec — cybersecurity (2.1 miles) — HQ
- Apple — technology offices (2.9 miles)
- HP — technology services (3.0 miles) — HQ
- Hewlett Packard Enterprise — enterprise technology (3.0 miles) — HQ
This Mountain View multifamily property offers exposure to one of the nation's most affluent rental markets, with neighborhood households earning nearly $200,000 annually. The 1976 construction year presents value-add renovation opportunities while the property benefits from Silicon Valley's concentration of high-paying technology employers within a 3-mile radius.
Strong demographic fundamentals support long-term investment potential, with population growth of 1.6% and projected household formation supporting rental demand. According to multifamily property research from WDSuite, the neighborhood's 98th percentile national ranking for household income provides substantial tenant quality advantages despite current occupancy adjustments reflecting broader market dynamics.
- Top quartile neighborhood for housing fundamentals and household income growth
- Proximity to major technology employers including Alphabet and Apple headquarters
- Value-add potential from 1976 vintage in neighborhood averaging 1990 construction
- Elevated home values reinforce rental demand in high-income market
- Risk: Below-median safety metrics require enhanced security considerations