| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Fair |
| Demographics | 53rd | Poor |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1130 Starbird Cir, San Jose, CA, 95117, US |
| Region / Metro | San Jose |
| Year of Construction | 1972 |
| Units | 34 |
| Transaction Date | 2015-12-14 |
| Transaction Price | $16,511,000 |
| Buyer | ST LOPEZ MARCONI LLC |
| Seller | GYPSY RED EXCHANGE LLC |
1130 Starbird Cir San Jose Multifamily Investment
This 34-unit property built in 1972 offers value-add potential in a Silicon Valley submarket with strong rental demand driven by proximity to major tech employers, according to CRE market data from WDSuite.
This Urban Core neighborhood ranks in the top quartile nationally for net operating income per unit at $10,629 average, reflecting strong rental fundamentals in the San Jose metro. The area maintains a 64.2% share of renter-occupied housing units, positioning it in the 95th percentile nationally for rental demand depth. Current neighborhood-level occupancy sits at 87.2%, though down from previous levels, indicating some market softening that may create acquisition opportunities.
Demographic data aggregated within a 3-mile radius shows a mature, high-income tenant base with median household income of $150,643 and substantial representation in the $200,000+ income bracket at 34.5% of households. Population projections through 2028 indicate modest growth of 1.5%, with household formation expected to increase by 32.4%, supporting continued rental demand. Median home values of $1.53 million reinforce renter reliance on multifamily housing, as elevated ownership costs sustain rental demand throughout the market cycle.
The neighborhood offers above-average amenity density with 7.16 restaurants per square mile and 3.58 childcare facilities per square mile, ranking in the 86th and 97th percentiles nationally respectively. However, school ratings average 1.5 out of 5, placing the area in the 26th percentile nationally, which may limit appeal to family renters but supports demand from young professionals and tech workers prioritizing proximity to employment centers over school districts.
Property crime rates in the neighborhood show recent improvement, with a 24.2% decline year-over-year, placing the area in the 68th percentile nationally for crime reduction trends. Current property offense rates rank 207th among 344 San Jose metro neighborhoods, indicating middle-tier performance relative to the broader market. Violent crime rates have declined more substantially at 40.5% year-over-year, positioning the neighborhood in the 81st percentile nationally for violent crime improvement.
While crime metrics place the neighborhood near metro averages rather than top-tier performance, the improving trend trajectory suggests stabilizing conditions that support tenant retention and leasing velocity. Investors should monitor these trends as part of ongoing asset management and tenant screening protocols.
The property benefits from proximity to Silicon Valley's largest tech employers, with multiple Fortune 500 headquarters within a 5-mile radius supporting consistent workforce housing demand.
- eBay — e-commerce headquarters (2.2 miles) — HQ
- Apple — Stevens Creek campus (2.5 miles)
- Apple — Tantau campus (2.9 miles)
- Netflix — streaming technology headquarters (3.2 miles) — HQ
- Apple — corporate headquarters (4.1 miles) — HQ
The 1972 construction year positions this asset for value-add renovation strategies, particularly given the neighborhood's strong rental fundamentals and proximity to major tech employment centers. Multifamily property research indicates the area maintains above-average NOI per unit performance despite some occupancy softening, creating potential acquisition advantages in a supply-constrained Silicon Valley submarket.
High median household incomes within the 3-mile radius, combined with substantial home values that reinforce rental demand, support pricing power and tenant retention over the long term. The 32.4% projected increase in households through 2028 should expand the renter pool, while proximity to multiple Fortune 500 headquarters provides employment stability that underpins occupancy fundamentals.
- Value-add renovation upside given 1972 vintage and strong submarket NOI performance
- High-income tenant base with 34.5% of households earning $200,000+ annually
- Silicon Valley tech employment concentration within 5 miles supports workforce housing demand
- 95th percentile nationally for rental market depth with 64.2% renter-occupied units
- Risk: Neighborhood occupancy below metro averages requires active lease management and competitive positioning