| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 44th | Poor |
| Amenities | 72nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1898 Senter Rd, San Jose, CA, 95112, US |
| Region / Metro | San Jose |
| Year of Construction | 2008 |
| Units | 117 |
| Transaction Date | 2025-07-17 |
| Transaction Price | $22,000,000 |
| Buyer | PSI REHAB LP |
| Seller | PASEO SENTER LP |
1898 Senter Rd, San Jose Multifamily Investment
Neighborhood occupancy is above the metro median and renter demand is supported by strong employment access, according to WDSuite s CRE market data. The 2008 vintage positions this asset competitively versus older local stock while leaving room for targeted modernization.
Livability and renter demand drivers
This Inner Suburb location shows above metro median occupancy at the neighborhood level with a multi-year upward trend, which generally supports cash flow stability for comparable assets. The renter concentration is high (share of housing units that are renter-occupied), landing in the top quartile among 344 metro neighborhoods, signaling a deep tenant base for multifamily. These are neighborhood metrics, not property performance.
Proximity to daily needs is a relative strength. Restaurant and grocery density are competitive among San Jose 1Sunnyvale 1Santa Clara neighborhoods and sit in the upper national percentiles, while pharmacies are also well represented. Park access is limited in the immediate area, which investors should consider for resident amenities and retention strategy.
Within a 3-mile radius, households have held relatively steady and are projected to increase through 2028, even as average household size trends lower. That mix typically supports a larger tenant base over time rather than new unit construction, and it can aid lease-up and renewal velocity. Median incomes in the 3-mile radius are high by national standards and trending upward, which underpins the rent roll, though lease management should account for affordability pressure.
Home values in the neighborhood sit in higher national percentiles and the value-to-income ratio is elevated, indicating a high-cost ownership market; this often sustains reliance on rental housing and supports pricing power for well-positioned communities. The property 9s 2008 construction year is newer than the neighborhood average (1980), suggesting relatively favorable competitive positioning versus older stock, with capex focused on modernization and systems lifecycle rather than full repositioning. Insights reflect neighborhood conditions from WDSuite 9s commercial real estate analysis.
Safety context
Neighborhood safety indicators are below national safety percentiles, reflecting higher relative incidence of both property and violent offenses than many U.S. neighborhoods. However, recent year-over-year trends show meaningful declines in estimated offense rates, indicating improving conditions rather than deterioration. These comparisons reference the local neighborhood within the San Jose 1Sunnyvale 1Santa Clara metro and national benchmarks.
For investors, the takeaway is risk management rather than avoidance: emphasize on-site security features, lighting, and resident engagement, and weigh these factors alongside demonstrated occupancy stability at the neighborhood level. Directionally improving trends reduce downside risk but warrant continued monitoring over the hold period.
The area draws from a broad Silicon Valley employment base that supports renter demand and commute convenience, including nearby offices for Adobe, eBay, PayPal, Verizon, and Qualcomm.
- Adobe Systems 1 software (2.45 miles)
- Ebay 1 e-commerce (4.20 miles) 1 HQ
- Paypal Holdings 1 fintech (5.66 miles) 1 HQ
- Verizon 1 telecommunications (6.49 miles)
- Qualcomm 1 semiconductor & wireless (6.56 miles)
At 117 units with a 2008 vintage, this property competes well against an area where the average construction year skews older. Neighborhood occupancy trends are solidly above the metro median and the renter-occupied share is among the highest in the metro, pointing to a deep tenant base that supports lease stability. According to CRE market data from WDSuite, local amenity access is strong for daily needs, while limited parks suggest adding on-site community features to bolster retention.
Within a 3-mile radius, incomes are high by national standards and households are expected to increase through 2028 even as household sizes edge down, implying more renters entering the market over time. Elevated ownership costs in the neighborhood context reinforce reliance on multifamily housing, supporting pricing power for well-managed assets. Investors should plan for targeted modernization rather than major repositioning given the property 9s age, and manage affordability pressure through disciplined lease administration.
- Above-metro neighborhood occupancy and deep renter base support leasing stability
- 2008 vintage offers competitive positioning with value-add via modernization
- Strong access to major employers underpins demand and retention
- High-cost ownership market sustains rental demand and pricing power
- Risks: limited nearby parks and below-average safety metrics require active management