| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 40th | Poor |
| Amenities | 15th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2000 Evans Ln, San Jose, CA, 95125, US |
| Region / Metro | San Jose |
| Year of Construction | 1996 |
| Units | 50 |
| Transaction Date | 2017-09-26 |
| Transaction Price | $8,825,000 |
| Buyer | CATALONIA TWO LP |
| Seller | CATALONIA ASSOCIATES |
2000 Evans Ln, San Jose Multifamily Investment
Neighborhood-level occupancy is stable and renter concentration is high, supporting durable leasing fundamentals according to WDSuite’s CRE market data. The thesis centers on demand depth from a large renter base and proximity to major employers in San Jose.
The asset’s 1996 vintage is newer than the neighborhood’s average construction year (1989), suggesting comparatively competitive curb appeal versus older stock, while still warranting routine modernization planning for systems and finishes. Renter-occupied share in the neighborhood is high (69.6% of housing units), indicating a deep tenant base and supporting demand stability for multifamily operators.
At the neighborhood scale, occupancy trends are healthy and slightly improving over the last five years, and housing indicators rank above many peers in the metro. Measured against 344 San Jose–Sunnyvale–Santa Clara neighborhoods, the area’s overall housing metrics sit in the upper tiers (“above metro median”), reinforcing the case for consistent renter demand rather than volatile lease-up risk.
Local amenity coverage is mixed: dining density is comparatively strong (competitive among metro areas and high nationally), but neighborhood-counted cafes, groceries, parks, and pharmacies are limited, implying residents may rely on nearby commercial corridors for daily needs. For investors, this dynamic favors properties that provide on-site conveniences or partner with delivery services to support retention.
Within a 3-mile radius, demographics show a stable population with a modest recent dip but a slight increase in households, and projections point to household growth by 2028—expanding the potential renter pool. Income levels in the 3-mile area have grown meaningfully in recent years, which supports rent collections and reduces turnover sensitivity. Elevated ownership costs relative to incomes in the neighborhood (high national percentile for value-to-income) further sustain reliance on rental housing, a constructive backdrop for multifamily property research.
Relative to 344 metro neighborhoods, this area’s safety profile is competitive, with a crime rank in the stronger half of the San Jose–Sunnyvale–Santa Clara region and a national standing modestly above the median. Year over year, both property and violent offense estimates have declined sharply (on the order of the mid‑40% range), indicating improving conditions.
Investors should still underwrite to submarket norms and monitor trend persistence, but the recent directional improvement provides a supportive context for resident retention and leasing stability.
Proximity to established tech and corporate employers underpins workforce demand and commute convenience, supporting leasing durability for multifamily operators near Downtown and central San Jose. The employers below represent nearby drivers of white-collar and tech employment that can help sustain the renter base.
- Adobe Systems — software (2.5 miles)
- Ebay — e-commerce (2.8 miles) — HQ
- Netflix — streaming & media (5.5 miles) — HQ
- Paypal Holdings — fintech (6.0 miles) — HQ
- Verizon — telecommunications (6.8 miles)
This 50-unit property at 2000 Evans Ln benefits from a renter-heavy neighborhood and steady occupancy trends, with the 1996 vintage providing relative competitiveness versus older nearby stock while leaving room for targeted upgrades to enhance rent positioning. Elevated ownership costs in the immediate area and rising incomes within a 3-mile radius support sustained reliance on rental housing and a larger tenant base, helping underpin occupancy stability.
Proximity to major employers in central Silicon Valley enhances demand resilience and retention potential. Based on commercial real estate analysis from WDSuite, local housing indicators rank above the metro median, while recent safety metrics have improved materially year over year—constructive for long-term operations. Underwriting should account for affordability pressure (higher rent-to-income at the neighborhood level) and the limited on-block amenity mix, balanced by strong regional employment access.
- Renter-heavy neighborhood supports depth of demand and occupancy stability.
- 1996 vintage offers competitive positioning with potential value-add through modernization.
- Strong nearby employer base in San Jose underpins leasing durability and retention.
- Improving safety trends and above-median housing metrics in the metro context.
- Risks: neighborhood-level affordability pressure and limited immediate amenities warrant conservative expense and rent growth assumptions.