| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Fair |
| Demographics | 26th | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1710 Alum Rock Ave, San Jose, CA, 95116, US |
| Region / Metro | San Jose |
| Year of Construction | 1998 |
| Units | 60 |
| Transaction Date | 2023-07-12 |
| Transaction Price | $14,383,519 |
| Buyer | GIRASOL ACQUISITION LP |
| Seller | SECRETARY/HOUSING & URBAN DEV |
1710 Alum Rock Ave San Jose Multifamily Investment
Neighborhood fundamentals point to steady renter demand, with occupancy near 94% and a renter-occupied share around 71% in the immediate area, according to WDSuite s CRE market data.
Situated in San Jose s Urban Core, the property benefits from a tenant-oriented landscape: the neighborhood s renter-occupied share is high, indicating depth in the local tenant base and supporting leasing consistency. The area s overall neighborhood rating sits below the metro median among 344 San Jose-Sunnyvale-Santa Clara neighborhoods (ranked 273 of 344), but the multifamily demand profile is supported by occupancy levels in the low-90s and a strong renter concentration.
Everyday amenities are mixed. Restaurant density is strong (top quartile nationally), grocery access tracks above national norms, and pharmacy availability is among the highest nationwide (99th percentile). In contrast, parks and cafes are limited within the neighborhood footprint, which may modestly affect lifestyle appeal but tends to concentrate demand on practical, close-in services favored by renters.
Schools in the neighborhood score well below national averages (low national percentile), which may influence the resident mix and price positioning for family-focused unit types. Investors should underwrite accordingly, with emphasis on workforce renters and convenience-driven demand. The property 98 vintage is newer than the neighborhood s average year built (1984), suggesting relative competitiveness versus older stock; investors should still plan for targeted modernization of aging systems and common areas over the hold.
Within a 3-mile radius, demographic statistics show a recent population dip alongside stable household counts, with forecasts indicating more households even as household sizes trend smaller. This pattern typically broadens the renter pool and supports occupancy stability. Elevated home values (high national percentile) and a high value-to-income ratio (top national tier) underscore a high-cost ownership market, which can reinforce reliance on multifamily rentals and support retention. Rent-to-income in the neighborhood is around 28%, a relatively lower share by national comparison, which can aid lease stability and renewal management.
Safety indicators are mixed. Overall crime levels align roughly with the national median (around the 50th percentile), positioning the neighborhood as neither an outlier high nor low relative to U.S. peers. Within the metro context, its crime rank sits toward the lower half among 344 neighborhoods, signaling room for improvement.
Property crime is comparatively elevated by national standards (lower national percentile), while violent offense rates sit below the national median. Notably, recent year-over-year trends show meaningful improvement, with both violent and property offenses declining at a pace that ranks in the top quartile nationally, which investors may view as a constructive directional signal. As always, evaluate site-specific measures (lighting, access control, and visibility) as part of operations planning rather than relying solely on neighborhood-level statistics.
Proximity to major employers supports workforce renter demand and commute convenience, including software, digital payments, semiconductors, electronics distribution, and electronics manufacturing locations listed below.
- Adobe Systems — software (2.65 miles)
- Paypal Holdings — digital payments (4.15 miles) — HQ
- Qualcomm — semiconductors (4.51 miles)
- Avnet — electronics distribution (4.78 miles)
- Sanmina — electronics manufacturing (4.93 miles) — HQ
Built in 1998 with 60 units, the asset offers scale and a vintage that is newer than the neighborhood average, positioning it competitively versus older local stock while still leaving room for selective value-add and systems modernization. Strong renter orientation in the neighborhood and occupancy in the low-90s support a stable tenant base. According to CRE market data from WDSuite, elevated home values and a high value-to-income ratio in the area reinforce reliance on multifamily housing, which can support pricing power and retention.
Within a 3-mile radius, households are expected to increase even as population declines and household sizes shrink, typically expanding the renter pool and supporting leasing. Amenity access is practical—restaurants, groceries, and pharmacies are comparatively dense—though limited parks and below-average school ratings suggest focusing on workforce demand and operational execution.
- Newer 1998 vintage versus local average offers competitive positioning with targeted modernization upside
- High renter concentration and low-90s neighborhood occupancy support leasing stability
- High-cost ownership market bolsters multifamily demand and potential retention
- Employment proximity (software, payments, semiconductors, electronics) underpins workforce renter demand
- Risks: limited parks, low school ratings, and average safety metrics require thoughtful asset management