| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 39th | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 127 Rancho Dr, San Jose, CA, 95111, US |
| Region / Metro | San Jose |
| Year of Construction | 1990 |
| Units | 30 |
| Transaction Date | 2023-06-02 |
| Transaction Price | $8,800,000 |
| Buyer | SUNNY VIEW VENTURES LLC |
| Seller | MONTEREY VALLEY LLC |
127 Rancho Dr San Jose Multifamily Investment
Neighborhood multifamily occupancy is about 95% and renter demand is supported by high household incomes, according to WDSuite’s CRE market data; these metrics describe the surrounding neighborhood, not the property. Pricing power has historically been resilient in this part of San Jose given elevated home values and strong employment access.
Located in San Jose’s Urban Core, the area around 127 Rancho Dr shows balanced fundamentals with occupancy at 95.1% and a renter-occupied share around one-third of units, indicating a stable but selective tenant base. Median contract rents in the neighborhood sit in the upper tier nationally (96th percentile), while incomes are also high (87th percentile), supporting collections and renewal potential, based on CRE market data from WDSuite.
Amenity access is a relative strength: density of cafes (96th percentile) and grocery options (94th percentile) outpaces most neighborhoods nationwide, which supports day-to-day livability and leasing appeal. However, park and childcare densities rank at the bottom locally, which may modestly narrow the target renter profile and suggests positioning toward working adults and households prioritizing commute convenience and services.
The property’s 1990 vintage is slightly newer than the neighborhood’s average construction year of 1986. That positioning can be competitive versus older stock while still allowing room for targeted modernization (systems, interiors, and curb appeal) to drive rent premiums and retention.
Within a 3-mile radius, households and incomes underpin demand: median household income is strong and projected to rise, while average household size is expected to decline. Even as population is projected to edge down modestly, WDSuite’s data indicate a forecast increase in household counts, which can expand the local renter pool and support occupancy stability for well-located assets.
Home values are elevated (92nd percentile nationally), which tends to reinforce reliance on multifamily housing and supports tenant retention. With neighborhood housing scoring above the national median and occupancy in the 71st percentile nationally, the backdrop favors steady lease-up and renewal performance for competitively positioned units.
Safety indicators trend mixed but improving. The neighborhood’s overall crime rank sits around the metro median (174 out of 344), while national percentiles suggest safety is below the national median. That said, year-over-year trends point in a positive direction, with estimated violent and property offenses declining materially according to WDSuite’s CRE market data.
For investors, the takeaway is comparative rather than absolute: safety is competitive among some San Jose sub-areas but not top quartile nationally, and continued improvement would further support leasing depth and retention. Underwriting should reflect submarket comps and recent trendlines rather than block-level assumptions.
Proximity to major tech employers supports weekday traffic and a deep, high-income renter base. Key nearby employment nodes include Adobe, eBay, Netflix, IBM, and PayPal, offering commute convenience that can aid leasing velocity and renewals.
- Adobe Systems — software (4.5 miles)
- eBay — e-commerce (5.0 miles) — HQ
- Netflix — streaming media (7.1 miles) — HQ
- IBM Silicon Valley Lab — enterprise technology (7.8 miles)
- PayPal Holdings — fintech (7.9 miles) — HQ
127 Rancho Dr offers exposure to a high-income renter base and occupancy in the low-to-mid 90s, with rent levels and home values in the upper national percentiles. The 1990 construction provides a slightly newer baseline than the neighborhood average, creating room for focused value-add while remaining competitive against older stock. According to CRE market data from WDSuite, amenity density is a relative strength (cafes and groceries), and proximity to major employers supports demand durability.
Key considerations include below-median national safety percentiles and lower-rated schools in the immediate area, which suggest thoughtful positioning and asset management. With rising household incomes and a projected increase in household counts within 3 miles, the local renter pool should remain supportive of stabilized operations for well-managed units.
- Stable neighborhood occupancy with high-income tenant base supporting renewals and collections
- 1990 vintage offers targeted value-add upside while staying competitive versus older stock
- Strong amenity access and proximity to major employers bolster leasing velocity
- Risks: below-median national safety percentiles and lower school ratings warrant conservative underwriting