| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 36th | Poor |
| Amenities | 91st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2557 Alvin Ave, San Jose, CA, 95121, US |
| Region / Metro | San Jose |
| Year of Construction | 1980 |
| Units | 106 |
| Transaction Date | 2017-09-26 |
| Transaction Price | $51,000 |
| Buyer | LEE ANSON P Y |
| Seller | EYL VENTURE LLC |
2557 Alvin Ave San Jose Multifamily Investment
This 106-unit property offers access to Silicon Valley's employment corridor with neighborhood-level occupancy rates at 98.2%, according to CRE market data from WDSuite.
Located in San Jose's Urban Core, this neighborhood ranks in the top quartile nationally for amenity access, with pharmacy density ranking 2nd among 344 metro neighborhoods. The area features 7.12 grocery stores per square mile and maintains robust restaurant density at 20.34 per square mile, supporting tenant retention through convenient daily services.
The property was constructed in 1980, slightly predating the neighborhood's 1982 average construction year, indicating potential value-add opportunities through strategic renovations and unit improvements. Neighborhood-level occupancy remains strong at 98.2%, ranking in the 90th percentile nationally, while median contract rents of $2,282 reflect the area's proximity to major tech employment centers.
Demographics within a 3-mile radius show a mature rental market with median household income of $115,325 and 40.8% of housing units occupied by renters. Population projections indicate household growth through 2028, with forecast median household income rising to $159,053, supporting rental demand fundamentals. Elevated home values at $876,212 median sustain rental demand by limiting ownership accessibility for many households.
The rent-to-income ratio of 0.24 suggests affordability pressure that may impact lease renewal dynamics, requiring careful lease management considerations. However, the neighborhood's B+ rating and strong amenity infrastructure provide competitive advantages for tenant attraction and retention.
Safety metrics show the neighborhood performing near metro median levels, ranking 115th among 344 San Jose metro neighborhoods for overall crime measures. Property offense rates have declined significantly by 52.9% year-over-year, ranking in the 89th percentile nationally for improvement trends, while violent crime rates decreased 61.5% over the same period.
Current property offense rates of 1,310 per 100,000 residents and violent crime rates of 262 per 100,000 residents position this area competitively within the broader metro context, with ongoing improvement trends supporting neighborhood stability for multifamily operations.
The property benefits from proximity to Silicon Valley's major technology employers, with several Fortune 500 companies and headquarters within commuting distance supporting stable workforce housing demand.
- Adobe Systems — software technology (3.8 miles)
- Ebay — e-commerce technology (5.7 miles) — HQ
- Paypal Holdings — financial technology (6.7 miles) — HQ
- Qualcomm — semiconductor technology (7.3 miles)
- Netflix — streaming technology (8.5 miles) — HQ
This 106-unit property constructed in 1980 presents value-add potential through strategic renovations while benefiting from strong neighborhood fundamentals. The area maintains 98.2% occupancy rates and ranks in the top quartile nationally for amenity access, supporting tenant retention in a competitive Silicon Valley rental market.
Demographics within a 3-mile radius show household growth projections through 2028 with rising income levels, while elevated home values sustain rental demand by limiting ownership accessibility. The property's proximity to major tech employers including Adobe, eBay, and PayPal headquarters provides workforce housing advantages, though multifamily property research indicates rent-to-income ratios require careful lease management strategies.
- Strong occupancy fundamentals with neighborhood rates at 98.2%
- Top-quartile amenity access supporting tenant retention
- Value-add potential through strategic property improvements
- Proximity to major Silicon Valley tech employment centers
- Risk consideration: Rent-to-income ratios may impact renewal rates