| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 83rd | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 350 Elan Village Ln, San Jose, CA, 95134, US |
| Region / Metro | San Jose |
| Year of Construction | 1992 |
| Units | 106 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
350 Elan Village Ln, San Jose Multifamily Investment
Renter demand is reinforced by a high-cost ownership market and a deep renter base in the immediate neighborhood, according to WDSuite’s CRE market data. Investors should view this asset as positioned for steady leasing fundamentals supported by proximate employment and above-median neighborhood amenities.
The property sits in an Inner Suburb pocket of San Jose that ranks in the top quartile among 344 metro neighborhoods for overall neighborhood quality, per WDSuite. Amenity access trends above metro norms: restaurants index strong (high national percentile), and daily-needs retail like groceries and pharmacies is readily available, supporting resident convenience and lease retention.
Neighborhood operating fundamentals are stable. Occupancy for the neighborhood is near the national middle, while income levels are elevated and rent-to-income ratios remain manageable for many households, indicating balanced affordability pressure from an investor standpoint. Average NOI per unit in the neighborhood performs in a high national percentile, signaling competitive revenue potential versus many U.S. submarkets.
Tenure skews heavily toward renter-occupied housing (very high share of units renter-occupied; rank near the top among 344 metro neighborhoods), which generally supports a deeper tenant base and steadier leasing velocity for multifamily assets. Median home values in the area are elevated relative to national benchmarks, which tends to sustain reliance on rental housing and can bolster pricing power for well-positioned communities.
Within a 3-mile radius, WDSuite data shows recent population growth alongside a larger increase in households and a trend toward smaller household sizes. Looking ahead, households are projected to continue increasing even as population levels may flatten, which typically expands the renter pool and supports occupancy stability. Local schools rate around the national average to slightly above, and proximity to major employment nodes further underpins day-to-day livability for residents.
Built in 1992, the asset is slightly older than the neighborhood’s average vintage. Investors should plan for selective system upgrades and modernization to enhance competitiveness and capture value-add upside in a market where newer product sets a high bar.
Neighborhood safety metrics trail many San Jose peers. The area ranks toward the lower end (305 out of 344 metro neighborhoods), and national percentiles indicate higher-than-average reported crime levels compared with neighborhoods nationwide. These figures are neighborhood aggregates rather than property-specific and can evolve over time.
From an investment perspective, prudent measures include ongoing monitoring of police-reported trends, maintaining strong on-site security practices, and aligning capital plans with features that support resident peace of mind. Comparative framing against the broader region remains important when underwriting retention and marketing assumptions.
The location benefits from proximity to major technology and electronics employers that anchor high-wage jobs and support renter demand through short commutes. Key nearby employers include Avnet, Sanmina, Qualcomm, PayPal, and Cisco Systems.
- Avnet — electronics distribution (0.41 miles)
- Sanmina — electronics manufacturing (0.67 miles) — HQ
- Qualcomm — semiconductors (0.77 miles)
- Paypal Holdings — fintech (1.60 miles) — HQ
- Cisco Systems — networking & enterprise tech (1.68 miles) — HQ
This 1992-vintage, 106-unit community in North San Jose is positioned near major corporate campuses and sits within a neighborhood that ranks competitively across amenities and income. A very high share of renter-occupied housing units supports a deep tenant base, while elevated home values in the area reinforce reliance on multifamily.
According to CRE market data from WDSuite, neighborhood occupancy is broadly in line with national norms, and the area’s high national percentile for average NOI per unit points to favorable revenue potential for well-managed assets. Near-term strategies should emphasize selective modernization to keep pace with newer supply while leveraging strong employment access to sustain leasing velocity.
- Deep renter base (very high renter-occupied share) supports tenant demand and leasing stability
- Proximity to major tech employers underpins occupancy and rent resilience
- High-cost ownership market sustains reliance on rentals and pricing power for competitive product
- Risk: Neighborhood crime metrics lag metro leaders; align security and underwriting assumptions accordingly
- 1992 vintage may require targeted capex to maintain competitive positioning