| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Fair |
| Demographics | 26th | Poor |
| Amenities | 59th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2388 Madden Ave, San Jose, CA, 95116, US |
| Region / Metro | San Jose |
| Year of Construction | 2011 |
| Units | 46 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2388 Madden Ave San Jose Multifamily Positioning
Neighborhood occupancy has held in the stable range and renter concentration is high, according to WDSuite’s CRE market data, pointing to a deep tenant base for a 2011-vintage asset in San Jose’s urban core.
The property’s 2011 construction is newer than the neighborhood’s typical 1980s-vintage stock, which can support competitive leasing while allowing investors to plan targeted modernization rather than full-system overhauls.
Local livability is mixed: amenities score above the metro median among 344 San Jose–Sunnyvale–Santa Clara neighborhoods, with strong access to pharmacies (top percentile nationally) and solid grocery and dining density, but limited parks and café presence. Average school ratings trend toward the lower end nationally, which may influence family-oriented demand dynamics.
From a multifamily standpoint, neighborhood occupancy is in the upper national half, and the share of housing units that are renter-occupied sits in a top national percentile—both indicators of a sizable tenant pool and potential leasing stability. Median contract rents are higher than many U.S. areas, and the neighborhood’s high-cost ownership market (home values well above national norms) generally sustains reliance on rental housing, though it also requires careful pricing relative to incomes.
Demographic statistics aggregated within a 3-mile radius show recent population softening but rising incomes and a projected increase in households alongside smaller average household sizes. This combination can expand the effective renter base over time and support occupancy, even as unit mix and leasing strategies may need to adapt to smaller households and varied income bands.
Safety indicators are mixed. Overall crime performance tracks near the national midpoint, and the neighborhood ranks above the metro median relative to 344 metro neighborhoods. Property and violent offense rates are on the less favorable side nationally, but both categories show notable year-over-year improvement, suggesting recent momentum in the right direction.
Investors should underwrite with current trend lines in mind, focusing on management, lighting, and access controls that align with submarket norms while monitoring whether the recent improvement persists.
Nearby corporate offices in software, payments, semiconductors, and life sciences help underpin renter demand through short commutes and diversified white-collar employment. The following employers represent the closest concentration likely to influence leasing and retention.
- Adobe Systems — software (3.4 miles)
- Paypal Holdings — payments (4.4 miles) — HQ
- Qualcomm — semiconductors (4.5 miles)
- Bristol-Myers Squibb, BDC — biopharma (4.8 miles)
- Avnet — electronics distribution (4.9 miles)
This 46-unit, 2011-vintage asset offers relative competitiveness versus older neighborhood stock while keeping capital needs focused on selective upgrades and unit refreshes. Based on CRE market data from WDSuite, the surrounding neighborhood shows occupancy in the upper national half and a high renter concentration, supporting depth of tenant demand. Elevated ownership costs in the area reinforce renter reliance on multifamily housing, which can aid pricing power when paired with disciplined lease management.
Within a 3-mile radius, recent population softness contrasts with higher incomes and a projected rise in household counts and smaller household sizes—factors that can broaden the renter pool and support leasing over time. Key considerations include rent-to-income affordability pressure and lower-average school ratings, alongside mixed but improving safety signals.
- 2011 build competes well against older neighborhood stock, with targeted value-add potential
- High renter concentration and stable occupancy support leasing durability
- High-cost ownership market bolsters multifamily demand and potential pricing power
- Proximity to diversified employers supports retention and lease-up
- Risks: affordability pressure, lower school ratings, limited parks/cafés, and mixed safety trends