| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 67th | Fair |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1824 Allison Way, San Jose, CA, 95132, US |
| Region / Metro | San Jose |
| Year of Construction | 1985 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1824 Allison Way San Jose Multifamily Opportunity
Neighborhood occupancy is above the metro median and renter demand is supported by a strong employment base, according to WDSuite’s CRE market data, positioning this asset for stable operations in a high-cost ownership market.
Situated in San Jose’s Urban Core, the property benefits from a neighborhood with an overall B rating and above-metro-median occupancy (96.3%), indicating steady leasing fundamentals relative to other areas in the San Jose–Sunnyvale–Santa Clara metro (344 neighborhoods). Grocery and dining access are competitive nationally (grocery and restaurant density both in the low-90s percentiles), while parks, pharmacies, and cafes are limited, suggesting daily-needs convenience with fewer lifestyle amenities within immediate proximity.
The property’s 1985 vintage is older than the neighborhood’s average construction year (1993), which points to potential capital planning needs and value-add or modernization upside to enhance competitive positioning against newer stock. Average school ratings in the area trend above national norms (around the 73rd percentile), which can support family renter appeal and longer tenancies.
Renter concentration in the neighborhood is roughly one-third of housing units, with the broader 3-mile area closer to two-fifths renter-occupied. For investors, that mix indicates a meaningful tenant base without oversaturation, where elevated ownership costs can sustain demand for well-maintained multifamily product and support lease retention.
Within a 3-mile radius, recent years show modest population growth alongside rising household counts, and forecasts point to continued household expansion even as average household size declines. This pattern typically supports a larger pool of renters and demand for professionally managed apartments, particularly well-located, commute-efficient properties.
Home values are elevated (top national percentiles), and neighborhood rent-to-income sits near 0.20, which generally supports pricing power while warranting ongoing affordability and lease management oversight. Based on CRE market data from WDSuite, this combination of high-cost ownership and steady occupancy underpins durable multifamily demand in this submarket context.
Safety indicators for the neighborhood sit below the national median, and the area ranks below the metro median (201 out of 344 San Jose–Sunnyvale–Santa Clara neighborhoods). That context suggests investors should underwrite with conservative assumptions and emphasize on-site management practices that support resident comfort.
Recent trend data is directionally constructive: both violent and property offense rates have declined year over year, indicating improving conditions compared with the prior year. While not top quartile nationally, these improvements can aid leasing stability when combined with professional operations and appropriate security measures.
Proximity to major technology, life sciences, electronics manufacturing, and fintech employers supports a deep, high-income renter pool and commute convenience for residents, including Qualcomm, Bristol-Myers Squibb (BDC), Avnet, Sanmina, and PayPal.
- Qualcomm — semiconductors (1.65 miles)
- Bristol-Myers Squibb, BDC — biopharma offices (1.73 miles)
- Avnet — electronics distribution (2.33 miles)
- Sanmina — electronics manufacturing (2.73 miles) — HQ
- Paypal Holdings — fintech (2.84 miles) — HQ
This 60-unit, 1985-vintage asset offers stable operations potential in a neighborhood with above-metro-median occupancy and strong job access. Elevated home values in the area reinforce reliance on multifamily housing, while neighborhood rent-to-income around 0.20 suggests room for disciplined pricing strategies and retention planning. The asset’s older vintage relative to local stock implies clear value-add or modernization levers to strengthen competitive positioning.
Within a 3-mile radius, household counts have risen and are projected to continue increasing as average household size trends lower, supporting a larger tenant base and sustained leasing velocity. Coupled with proximity to major employers, this points to durable demand drivers; at the same time, investors should account for fewer nearby parks/cafes and safety metrics that, while improving, remain below national medians. These dynamics, based on CRE market data from WDSuite, frame a pragmatic, long-term thesis around operational durability and targeted upgrades.
- Above-metro-median neighborhood occupancy supports income stability
- High-cost ownership market sustains renter reliance and pricing power
- 1985 vintage presents value-add and modernization potential
- 3-mile household growth and strong employer proximity deepen the renter pool
- Risks: limited nearby parks/cafes and safety metrics below national median despite improving trends