| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 70th | Good |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2094 Forest Ave, San Jose, CA, 95128, US |
| Region / Metro | San Jose |
| Year of Construction | 1997 |
| Units | 109 |
| Transaction Date | 1993-11-30 |
| Transaction Price | $2,391,000 |
| Buyer | FOREST MANOR ASSOCIATES |
| Seller | ZANGER LOUIS C C |
2094 Forest Ave San Jose Multifamily Investment
Neighborhood occupancy is steady and renter demand is deep, according to WDSuite’s CRE market data, supporting durable cash flow potential at an infill San Jose address.
Situated in San Jose’s Urban Core, the property benefits from location fundamentals that are competitive among San Jose–Sunnyvale–Santa Clara neighborhoods (ranked 99 of 344, B+ rating). Neighborhood occupancy is strong for the metro and above many U.S. areas, and the local renter-occupied share is high, indicating a broad tenant base for multifamily operators; these are neighborhood-level metrics reported by WDSuite, not property-specific figures.
The surrounding housing market is a high-cost ownership environment (home values in high national percentiles), which tends to reinforce reliance on rental housing and support pricing power and retention for well-managed assets. At the same time, rent-to-income in the neighborhood trends relatively manageable versus many coastal peers, which can aid lease stability and renewal rates. Nearby amenities are a practical strength: grocery stores, parks, pharmacies, and restaurants are dense relative to national norms, supporting day-to-day livability for residents.
Neighborhood operational benchmarks also signal investor appeal. Per-unit NOI trends rank in the top national percentiles according to CRE market data from WDSuite, and overall housing indicators sit above the metro median. The property’s 1997 construction is newer than the neighborhood’s average vintage, offering a competitive edge versus older local stock, while still warranting capital planning for systems modernization or selective renovations as part of a value-add program.
Demographics within a 3-mile radius show households growing modestly in recent years with projections for further household increases and smaller average household sizes. This mix supports renter pool expansion and can underpin occupancy stability for studio and one-bedroom-heavy unit mixes.
Safety indicators present a mixed but improving picture. Within the San Jose–Sunnyvale–Santa Clara metro, the neighborhood sits roughly mid-pack among 344 neighborhoods by crime rank. Compared with neighborhoods nationwide, safety percentiles are below the national median; however, both property and violent offense rates have posted notable year-over-year declines, placing the neighborhood in stronger improvement percentiles according to WDSuite.
For investors, the takeaway is to underwrite with standard urban-core assumptions, monitor recent trend improvements, and consider measures that support resident experience and retention.
Proximity to major tech employers underpins workforce demand and commute convenience for renters. Key nearby nodes include e-commerce, software, digital payments, and semiconductor employers noted below.
- eBay — e-commerce (2.2 miles) — HQ
- Adobe Systems — software (2.4 miles)
- PayPal Holdings — digital payments (3.5 miles) — HQ
- NVIDIA — semiconductors (3.5 miles) — HQ
- Apple — Stevens Creek 8 — technology offices (3.7 miles)
2094 Forest Ave offers an infill San Jose location with durable renter demand supported by a high renter-occupied share at the neighborhood level, steady neighborhood occupancy, and proximity to major tech employers. The home-ownership market nearby is high-cost, which tends to sustain reliance on rental housing and supports lease retention for well-run assets. According to CRE market data from WDSuite, neighborhood operational benchmarks such as per-unit NOI sit in top national tiers, reinforcing the case for stable performance.
Built in 1997, the asset is newer than much of the surrounding housing stock, providing relative competitiveness versus older properties while leaving room for targeted modernization to enhance positioning. Demographics within a 3-mile radius point to modest household growth and smaller average household sizes ahead, which can expand the renter pool and support occupancy for efficient floor plans.
- Infill San Jose location with strong neighborhood occupancy and a high renter-occupied share supporting demand depth
- High-cost ownership market reinforces multifamily reliance and pricing power potential
- 1997 vintage offers competitive positioning with value-add or systems modernization upside
- Nearby tech employment centers bolster leasing velocity and retention
- Risks: safety metrics below national medians and tech-cycle exposure warrant prudent underwriting