| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 70th | Good |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1609 Parkmoor Ave, San Jose, CA, 95128, US |
| Region / Metro | San Jose |
| Year of Construction | 1977 |
| Units | 104 |
| Transaction Date | 2011-06-13 |
| Transaction Price | $15,349,750 |
| Buyer | VISTA SACK ASSOCIATES LP |
| Seller | ULLA M FASAHAT |
1609 Parkmoor Ave San Jose Multifamily Investment
Neighborhood fundamentals show steady renter demand and high-cost ownership dynamics, according to WDSuite’s CRE market data. The area’s occupancy is strong at the neighborhood level, supporting income stability for a 104-unit asset.
Located in San Jose’s Urban Core, the neighborhood rates B+ (ranked 99 of 344 metro neighborhoods), indicating healthy livability and investment appeal relative to the broader metro. Amenity access is competitive among San Jose–Sunnyvale–Santa Clara neighborhoods, with strong density of grocery, restaurant, park, and pharmacy options, though café and childcare counts are lighter in the immediate area.
Renter concentration in the neighborhood is elevated (58.0% of housing units are renter-occupied), which places the area in the top quartile among 344 metro neighborhoods. For multifamily investors, this depth of renter households supports demand resiliency and a broader tenant base to draw from.
Home values in the neighborhood are among the highest nationally (98th percentile), creating a high-cost ownership market that tends to reinforce reliance on rental housing and can aid lease retention. Median neighborhood rents benchmark near the top decile nationally, while the local rent-to-income ratio trends lower than many coastal peers, suggesting manageable affordability pressure for renewal strategies.
Within a 3-mile radius, demographics point to a high-income renter pool and smaller average household sizes over time. Despite a slight population dip in recent years, household counts have grown and are projected to increase further, implying a larger tenant base and ongoing demand for rental units; this outlook is supported by commercial real estate analysis from WDSuite.
The average neighborhood construction year skews older (1958), while the subject property’s 1977 vintage is newer than much of the surrounding stock but still likely to benefit from systems modernization and selective renovations to maintain competitive positioning against both newer deliveries and renovated comparables.
Safety indicators for the neighborhood track close to the national middle overall (around the 50th percentile), per WDSuite. Recent trend data shows material year-over-year declines in both violent and property incident rates at the neighborhood level, which is a constructive directional signal for investors assessing long-term stability.
As with any urban core location, outcomes can vary by micro-area and over time. Framing safety in comparative terms—metro-relative and nationally—helps set expectations for risk management, on-site operations, and resident experience without over-extrapolating block-level conclusions.
Proximity to major tech and corporate employers underpins weekday demand, commute convenience, and retention potential for workforce and professional renters. Notable nearby employers include eBay, Adobe, PayPal, Nvidia, and Apple offices.
- eBay — e-commerce HQ offices (1.6 miles) — HQ
- Adobe Systems — software (1.7 miles)
- Paypal Holdings — fintech (4.0 miles) — HQ
- Nvidia — semiconductors (4.5 miles) — HQ
- Apple - Stevens Creek 8 — corporate offices (4.7 miles)
This 1977, 104-unit asset is positioned in a San Jose Urban Core neighborhood with strong renter demand and high-cost ownership dynamics. Neighborhood occupancy remains solid and the renter-occupied share is elevated, supporting a reliable tenant base and potential for steady leasing performance. According to CRE market data from WDSuite, local NOI-per-unit benchmarks rank near the top of metro and national comparisons, underscoring revenue potential at the neighborhood level. Given the property’s vintage, a targeted value-add program—systems modernization and interior updates—can enhance competitiveness relative to newer deliveries.
Within a 3-mile radius, household counts have expanded and are projected to grow further even as average household size trends lower, implying renter pool expansion and support for occupancy stability. Elevated home values in the neighborhood point to a high-cost ownership market, which can reinforce reliance on multifamily housing and support pricing power with prudent lease management.
- Elevated neighborhood renter concentration supports depth of tenant demand
- High ownership costs bolster rental reliance and potential retention
- 1977 vintage offers value-add potential via systems and interior upgrades
- Risks: mixed but improving safety signals and lighter café/childcare amenities locally