| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Good |
| Demographics | 44th | Poor |
| Amenities | 48th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 311 E Reed St, San Jose, CA, 95112, US |
| Region / Metro | San Jose |
| Year of Construction | 1981 |
| Units | 30 |
| Transaction Date | 2005-12-14 |
| Transaction Price | $3,650,000 |
| Buyer | 311 REED OAKS APARTMENTS REAL ESTATE INV |
| Seller | 311 E REED ST FJD LLC |
311 E Reed St San Jose Multifamily Investment
Neighborhood occupancy and renter demand appear resilient for San Jose’s urban core, according to CRE market data from WDSuite, with local ownership costs supporting sustained reliance on rentals.
Located in San Jose’s Urban Core, the area’s renter-occupied share of housing units is high (about seven in ten at the neighborhood level), indicating depth in the tenant base and potential support for leasing continuity. The neighborhood’s occupancy rate is in the low-90s, a touch above national norms, per WDSuite’s CRE market data. Median contract rents in the neighborhood sit in a higher national bracket, so pricing discipline and asset positioning matter for retention.
Daily-needs access is a relative strength: grocery density sits in the 99th percentile nationally and ranks in the top quartile among 344 metro neighborhoods, while restaurants also score in the 95th percentile nationally and are top quartile locally (rank 52 of 344). Park access is strong as well (95th percentile nationally) and competitive among San Jose neighborhoods (rank 92 of 344). In contrast, cafes, childcare, and pharmacies are less concentrated nearby, so residents may rely on a broader radius for those services.
For investors evaluating demand durability, elevated home values in the neighborhood, paired with a high value-to-income ratio (both in upper national percentiles), point to a high-cost ownership market that tends to reinforce rental demand and support pricing power when operations are well managed. WDSuite’s neighborhood housing indicators are above the national median and net operating income per unit is strong versus national peers (upper percentiles), suggesting the area can support professionally managed assets.
Demographic statistics aggregated within a 3-mile radius show households have grown despite a modest decline in population, implying smaller household sizes and a broader household count that can expand the renter pool. Median incomes in this radius are high with meaningful growth, which helps moderate rent-to-income pressure and can underpin lease retention.
Safety outcomes track near the national middle overall, with violent and property offense rates benchmarking below national percentiles that indicate the safest areas. However, recent year-over-year trends show meaningful improvement in both categories, according to WDSuite’s CRE market data. Within the metro context (344 neighborhoods), the area’s rank sits in the broad middle, typical of dense urban cores where activity levels are higher.
For investors, this suggests standard urban risk management: emphasize lighting, access control, and resident engagement, and monitor continuing trend improvement rather than relying on block-level conclusions. Comparative performance has been improving, which can support leasing confidence when paired with proactive on-site measures.
Proximity to downtown and major Silicon Valley employers supports a deep professional renter base and commute convenience. The immediate area draws from Adobe, eBay, PayPal, Verizon, and Sanmina.
- Adobe Systems — software (0.92 miles)
- eBay — ecommerce (3.65 miles) — HQ
- PayPal Holdings — fintech (4.02 miles) — HQ
- Verizon — telecom offices (4.85 miles)
- Sanmina — electronics manufacturing (5.01 miles) — HQ
311 E Reed St offers scale at 30 units in San Jose’s Urban Core with neighborhood occupancy in the low-90s and a high renter concentration supporting demand stability. Built in 1981, the asset is slightly newer than the neighborhood’s average vintage, providing a modest competitive edge versus older stock while still warranting targeted capital planning for aging systems and unit modernization. Elevated home values and a high value-to-income environment reinforce renter reliance on multifamily housing, and nearby corporate employment underpins a steady professional tenant base, based on CRE market data from WDSuite.
Within a 3-mile radius, household counts have increased even as population edged down, expanding the addressable renter pool and supporting lease-up resilience. Neighborhood-level housing indicators rank above national medians, and rent-to-income ratios suggest manageable affordability pressure relative to local incomes—a constructive setup for retention when paired with disciplined operations.
- High renter concentration and low-90s neighborhood occupancy support leasing stability.
- 1981 vintage offers value-add and systems-upgrade upside versus older nearby stock.
- Elevated ownership costs locally reinforce multifamily demand and pricing power potential.
- Proximity to major employers (Adobe, eBay, PayPal) supports a durable professional tenant base.
- Risk: urban-core safety metrics sit below top national percentiles; sustained on-site measures and monitoring are prudent.