| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 89th | Best |
| Demographics | 47th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2811 McKee Rd, San Jose, CA, 95127, US |
| Region / Metro | San Jose |
| Year of Construction | 1981 |
| Units | 68 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2811 McKee Rd San Jose Multifamily Investment
Neighborhood occupancy trends are strong and homeownership costs are elevated, supporting steady renter demand in this B+ rated Urban Core pocket, according to WDSuite’s CRE market data.
Located in San Jose’s Urban Core (B+ neighborhood rating among 344 metro neighborhoods), the area shows durable tenant demand. Neighborhood occupancy is competitive among San Jose-Sunnyvale-Santa Clara neighborhoods and sits in the top quartile nationally, suggesting support for lease stability even through cycles.
Daily-life amenities are a strength: restaurants, cafes, groceries, and pharmacies rank in the 90th-plus national percentiles, which can aid retention for workforce households. Park access is limited within the immediate neighborhood, a consideration for family-oriented renters, and average school ratings trend below national norms, which may influence unit mix positioning and marketing.
Renter concentration in the neighborhood is roughly 38% of housing units being renter-occupied, pointing to a meaningful but not saturated tenant base. Median home values are elevated (upper national percentiles), which typically sustains reliance on rentals and supports pricing power, while rent-to-income levels remain manageable by regional standards—useful for lease management and renewals.
Within a 3-mile radius, demographics indicate a smaller overall population than five years ago with household sizes trending lower. Over the next five years, forecasts show a decline in population but an increase in total households alongside rising median incomes; this mix suggests a stable or expanding renter pool of smaller households, supporting absorption for well-maintained, appropriately sized units.
Vintage positioning matters: with a 1981 construction year in a submarket where the average stock skews newer (mid-1990s), investors should plan for selective capital improvements. Thoughtful renovations and systems updates can improve competitive standing against newer properties and capture value-add upside without overcapitalizing.
Safety indicators are mixed. Compared with other neighborhoods in the San Jose-Sunnyvale-Santa Clara metro (344 neighborhoods), the area ranks in the lower tier for safety, and national comparisons place it below average. However, recent trends show year-over-year improvement in violent offense rates, an encouraging directional signal to monitor alongside local initiatives.
For underwriting, a conservative approach is prudent: consider security measures, lighting, and resident engagement to support retention and mitigate incidents. Positioning the asset’s operations and community standards can help offset neighborhood-level volatility without relying on short-term fluctuations.
Proximity to major employers underpins renter demand through commute convenience, notably across technology and diversified corporate offices including Adobe, Qualcomm, PayPal, Bristol-Myers Squibb, and Avnet.
- Adobe Systems — software (4.1 miles)
- Qualcomm — semiconductors (4.3 miles)
- Paypal Holdings — fintech (4.6 miles) — HQ
- Bristol-Myers Squibb, BDC — biopharma offices (4.6 miles)
- Avnet — electronics distribution (4.8 miles)
This 68-unit, 1981-vintage asset is positioned in a high-demand Urban Core location where occupancy is competitive within the metro and strong nationally. Elevated ownership costs in the neighborhood support sustained reliance on multifamily housing, while rent-to-income levels suggest room for disciplined pricing and renewals. Based on CRE market data from WDSuite, amenity density is a relative strength, helping retention and day-to-day convenience, even as park access and school ratings warrant thoughtful targeting and unit-mix strategy.
Forward-looking demographics within a 3-mile radius indicate smaller household sizes and rising incomes alongside a softer overall population trend—factors that can expand the renter pool for well-managed, right-sized units. The older vintage versus the submarket’s newer average points to a practical value-add path through common-area refreshes and in-unit upgrades, balanced by prudent capital planning and attention to safety operations.
- Occupancy strength and elevated ownership costs reinforce rental demand and support leasing stability.
- High amenity density (food, grocery, pharmacy) aids resident retention and competitive positioning.
- 1981 vintage offers value-add potential via targeted renovations and systems updates.
- 3-mile trends point to smaller households and higher incomes, expanding the renter pool for efficient unit layouts.
- Risks: below-average safety rankings, limited parks, and lower school ratings require operational focus and conservative underwriting.