| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 40th | Poor |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1984 Almaden Rd, San Jose, CA, 95125, US |
| Region / Metro | San Jose |
| Year of Construction | 1972 |
| Units | 104 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1984 Almaden Rd, San Jose — 104-Unit Value-Add Multifamily
Neighborhood occupancy is consistently high and renter demand is durable for this Urban Core location, according to WDSuite s CRE market data. The 1972 vintage suggests clear renovation and systems-upgrade angles to enhance competitiveness and cash flow.
Located in San Jose s Urban Core, the property sits in a renter-driven area where 69.6% of housing units are renter-occupied. That renter concentration ranks 24 out of 344 metro neighborhoods competitive for workforce leasing depth and supports a broad tenant base and year-round demand.
Neighborhood occupancy runs at 95.9%, which is above national norms and has ticked up modestly in recent years (based on CRE market data from WDSuite). For investors, this backdrop points to steady leasing and fewer prolonged vacancies, especially for well-managed properties that maintain unit quality.
Daily convenience is mixed: restaurants are comparatively dense (ranked 80 of 344 in the San Jose Sunnyvale Santa Clara metro, placing the area in the top quartile nationally), while cafes, groceries, parks, and pharmacies are sparse within the immediate neighborhood. This pattern favors residents who prioritize quick dining options but may rely on short drives for errands.
Construction in the surrounding area skews newer (average 1989), while this asset was built in 1972. The older vintage can translate into capital planning needs (exteriors, common areas, building systems), but it also presents value-add potential to reposition against younger stock. Within a 3-mile radius, incomes are high and rising with households projected to increase, expanding the prospective renter pool and supporting rent growth for renovated units.
Ownership costs in the region remain elevated relative to incomes (high value-to-income ratios at the neighborhood level), which tends to reinforce reliance on multifamily rentals and can bolster lease retention. At the same time, a higher rent-to-income ratio locally signals affordability pressure an important consideration for pricing strategy, renewal management, and amenity investment to sustain occupancy.
Safety indicators are mixed and should be viewed in context. Within the San Jose Sunnyvale Santa Clara metro, the neighborhood ranks 99 out of 344 on crime (lower ranks indicate more incidents relative to the metro), suggesting more activity than some suburban areas. Nationally, the neighborhood sits around mid-range to slightly better on composite measures (55th percentile), and both violent and property offense estimates have trended down meaningfully year over year, according to WDSuite s data.
For investors, the takeaways are pragmatic: trend improvement is constructive for resident retention, but underwriting should reflect an Urban Core profile and continued focus on lighting, access control, and responsive management.
Proximity to major tech employers underpins renter demand and commuting convenience, with a concentration of roles in software, e-commerce, and payments. The nearby employment base includes Adobe, eBay, Netflix, PayPal, and Verizon.
- Adobe Systems software (2.4 miles)
- Ebay e-commerce (2.7 miles) HQ
- Netflix streaming/media (5.4 miles) HQ
- Paypal Holdings payments (5.9 miles) HQ
- Verizon communications (6.7 miles)
This 104-unit asset combines scale with a renter-heavy Urban Core location where neighborhood occupancy is solid and leasing has remained resilient. According to CRE market data from WDSuite, occupancy in the neighborhood sits above national norms, and elevated ownership costs in the area continue to support reliance on multifamily rentals. The 1972 construction offers clear value-add levers targeted unit renovations and common-area upgrades to improve positioning versus newer 1980s/1990s stock nearby.
Within a 3-mile radius, incomes skew higher and households are projected to grow, expanding the tenant base for well-finished units. Risks to underwrite include affordability pressure (higher neighborhood rent-to-income ratios), amenity gaps that may require on-site enhancements, and typical capital needs for a 1970s vintage. With disciplined execution, the location s employment access and renter concentration provide a foundation for stable occupancy and incremental rent premiums.
- Scale and location support occupancy stability in a renter-heavy Urban Core.
- Value-add potential from 1972 vintage via unit and systems upgrades.
- Elevated ownership costs reinforce multifamily demand and lease retention.
- 3-mile demographics point to a growing, higher-income renter pool for renovated product.
- Risks: affordability pressure, amenity gaps, and capex typical of older construction.