| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 33rd | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2605 La Hacienda Ct, San Jose, CA, 95127, US |
| Region / Metro | San Jose |
| Year of Construction | 2001 |
| Units | 69 |
| Transaction Date | 2022-08-24 |
| Transaction Price | $23,628,000 |
| Buyer | MONTE VISTA PRESERVATION LP |
| Seller | MONTE VISTA GARDENS SENIOR HOUSING LP |
2605 La Hacienda Ct San Jose Multifamily Investment
This 69-unit property benefits from San Jose's strong rental demand, with neighborhood occupancy at 95.3% supported by high-paying tech employment. The area's median household income of $102,550 and substantial renter base provide stable fundamentals for commercial real estate analysis.
Located in San Jose's Urban Core, this neighborhood ranks in the top quartile nationally for amenities and housing metrics among 344 metro neighborhoods. The area maintains strong occupancy at 95.3%, reflecting stable rental demand in a market where 46.7% of housing units are renter-occupied. With median household income of $102,550 and median home values at $919,179, elevated ownership costs reinforce rental demand and sustain multifamily housing reliance.
Built in 2001, this property aligns with the neighborhood's average construction year of 1971, positioning it as newer vintage stock that may require less near-term capital expenditure compared to older area properties. The 3-mile radius demographics show 212,938 residents with strong income fundamentals, including 21.8% of households earning over $200,000 annually. Projected household growth of 29.6% by 2028 supports expanding renter pool and occupancy stability.
The neighborhood excels in amenity density with 5.2 grocery stores per square mile (96th percentile nationally) and 14.3 restaurants per square mile (94th percentile nationally), supporting tenant retention through convenience and lifestyle appeal. However, school ratings average 1.0 out of 5, which may limit family-oriented tenant segments but aligns with the area's tech workforce demographics focused on proximity to employment centers.
Crime metrics show mixed signals for investor consideration. Property crime rates rank 211th among 344 metro neighborhoods, placing the area below median for the region. However, both property and violent crime rates have declined significantly over the past year, with property crime down 45.9% and violent crime down 61.7%, indicating improving trends that may support tenant retention and leasing velocity.
The neighborhood's crime national percentiles (19th for property crime, 18th for violent crime) suggest higher crime levels compared to neighborhoods nationwide, though the substantial year-over-year improvements demonstrate positive momentum. Investors should monitor these trends as part of ongoing asset management and tenant screening protocols.
The property benefits from proximity to major tech employers that drive San Jose's high-income workforce and rental demand.
- Adobe Systems — software technology (3.8 miles)
- Paypal Holdings — financial technology (5.1 miles) — HQ
- Qualcomm — semiconductor technology (5.1 miles)
- Bristol-Myers Squibb — pharmaceutical (5.5 miles)
- Sanmina — electronics manufacturing (5.7 miles) — HQ
This 69-unit property offers exposure to San Jose's resilient multifamily fundamentals, anchored by strong tech employment and elevated ownership costs that sustain rental demand. According to CRE market data from WDSuite, the neighborhood maintains 95.3% occupancy while benefiting from household income levels well above national averages. The 2001 construction year positions the asset as newer vintage within the submarket, potentially reducing near-term capital expenditure needs compared to older area properties.
Demographic projections show household growth of 29.6% by 2028 within the 3-mile radius, supporting tenant base expansion and occupancy stability. The area's high-income profile, with 21.8% of households earning over $200,000, provides pricing power potential, though investors should monitor rent-to-income ratios at 26% which may create affordability pressure for some tenant segments.
- Strong occupancy at 95.3% with substantial tech employment base driving rental demand
- Newer 2001 vintage may reduce near-term capital expenditure compared to area average
- Projected 29.6% household growth supports expanding tenant base through 2028
- High median home values at $919,179 reinforce rental market participation
- Crime rates declining significantly with property crime down 45.9% year-over-year, though absolute levels remain above metro median