| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 71st | Good |
| Amenities | 88th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1107 Luchessi Dr, San Jose, CA, 95118, US |
| Region / Metro | San Jose |
| Year of Construction | 1994 |
| Units | 102 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1107 Luchessi Dr, San Jose Multifamily Investment
High-cost homeownership and solid neighborhood occupancy support durable renter demand in this San Jose submarket, according to WDSuite’s CRE market data. The property’s 1994 vintage positions it competitively against older local stock while leaving room for targeted modernization.
The surrounding neighborhood scores an A with a rank of 39 out of 344 within the San Jose-Sunnyvale-Santa Clara metro, placing it competitive among metro peers and signaling balanced fundamentals for multifamily. Neighborhood occupancy trends sit above national medians, supporting leasing stability at the submarket level rather than at the property level.
Daily convenience is a strength: grocery access ranks 20 of 344 locally and sits near the top of national comparisons, with cafés and restaurants also performing well versus metro peers. Average school ratings are closer to national mid-range, so investor underwriting should emphasize location convenience and employment access more than school-driven leasing.
Construction skew in the neighborhood averages 1973, making a 1994 asset relatively newer than surrounding stock. This can enhance competitive positioning versus older inventory, while still warranting capital planning for systems nearing mid-life and select value-add upgrades to sustain rent premiums.
Tenure patterns indicate a meaningful renter base: approximately two-fifths of neighborhood housing units are renter-occupied, which supports depth of demand without overreliance on any single tenant cohort. Within a 3-mile radius, recent population growth has been modest, and forecasts point to relatively flat population levels alongside an increase in households and smaller household sizes—dynamics that can expand the renter pool and support occupancy stability even if headcount growth is muted, based on CRE market data from WDSuite.
Pricing context favors rentals: elevated home values in this area and a high value-to-income backdrop tend to sustain reliance on multifamily housing. Neighborhood median contract rents have risen over the past five years and are projected to continue advancing, though retention strategies should account for affordability pressure and careful lease management as rent-to-income ratios drift toward higher ranges.
Safety indicators are mixed but trending in a constructive direction. Within the San Jose-Sunnyvale-Santa Clara metro, the neighborhood’s crime rank sits around the metro middle (180 of 344), while national comparisons place overall safety modestly below the U.S. median. Recent trends show improvement: estimated violent offense rates have declined year over year, and property offense rates have also eased, according to WDSuite’s CRE market data. Conditions vary by block and over time; investors typically account for this with targeted security measures and tenant-experience programming.
Proximity to major technology employers underpins a deep white-collar renter base and commute convenience. Notable nearby employers include eBay, Netflix, Adobe, Apple, and PayPal, which collectively support demand, retention, and leasing velocity for workforce and professional tenants.
- eBay — technology HQ (3.6 miles) — HQ
- Netflix — streaming & technology (4.7 miles) — HQ
- Adobe Systems — software (5.0 miles)
- Apple - Stevens Creek 8 — technology offices (8.2 miles)
- PayPal Holdings — fintech (8.3 miles) — HQ
This 102-unit, 1994-vintage asset offers relative age advantage versus the neighborhood’s older housing stock, with capital investment pathways focused on targeted modernization for interiors, common areas, and building systems. Elevated ownership costs in San Jose and a renter-occupied share that is meaningful at the neighborhood level support a stable tenant base, while proximity to blue-chip employers reinforces leasing durability. According to commercial real estate analysis from WDSuite, neighborhood occupancy sits above national medians and rent levels have trended upward, though prudent underwriting should account for retention management as affordability pressure rises.
Forward-looking demographics within a 3-mile radius show generally flat population but growth in households and smaller household sizes, which can expand the renter pool and support occupancy resilience. Local safety metrics are around the metro mid-range but improving on recent trends; standard security enhancements and community engagement can help sustain renter confidence.
- Newer 1994 vintage versus local average provides competitive positioning with clear value-add upgrade potential
- High-cost ownership market sustains rental demand and supports pricing power with careful lease management
- Deep employment base nearby (eBay, Netflix, Adobe, Apple, PayPal) supports steady renter pipeline
- Neighborhood occupancy above national medians with rents trending upward, per WDSuite
- Risks: affordability pressure, mid-range safety metrics, and muted population growth offset by household expansion