| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 88th | Best |
| Demographics | 91st | Best |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 360 Meridian Ave, San Jose, CA, 95126, US |
| Region / Metro | San Jose |
| Year of Construction | 1997 |
| Units | 90 |
| Transaction Date | 2014-11-17 |
| Transaction Price | $17,249,750 |
| Buyer | PARKVIEW FAMILY EAH II LP |
| Seller | MIDTOWN FAMILY ASSOCIATES LP |
360 Meridian Ave San Jose Multifamily Investment
This 90-unit property sits in a top-quartile San Jose neighborhood with 73% renter-occupied units, suggesting strong rental demand fundamentals according to WDSuite's CRE market data.
The property is located in an A-rated neighborhood that ranks 31st among 344 San Jose metro neighborhoods, placing it in the top quartile for overall investment fundamentals. Built in 1997, the property aligns with the neighborhood's average construction year of 1996, indicating consistent building stock without immediate capital expenditure pressures from outdated infrastructure.
Demographic data aggregated within a 3-mile radius shows a household count increase of 36% projected through 2028, supporting expanded renter pool depth. The area maintains a 60% renter-occupied housing concentration, well above typical ownership-dominant markets, which reinforces multifamily demand stability. With median household incomes of $133,000 and projected growth to $172,000 by 2028, the tenant base demonstrates strong income fundamentals for lease retention.
Neighborhood-level occupancy of 93% reflects solid absorption trends, while median contract rents of $2,719 rank in the 98th percentile nationally, indicating strong pricing power. However, rent-to-income ratios suggest affordability pressure that could impact renewal rates. The area benefits from high amenity density, ranking in the 63rd percentile nationally, with strong access to childcare and grocery stores supporting tenant appeal.
Elevated home values exceeding $1 million sustain rental demand by limiting ownership accessibility for most households. The high value-to-income ratio of 7.5 reinforces renter reliance on multifamily housing, though this dynamic also creates retention risk if economic conditions shift.
The neighborhood ranks 130th out of 344 metro neighborhoods for crime, placing it near the median for the San Jose area and in the 51st percentile nationally. While property crime rates remain elevated compared to national averages, recent trends show improvement with a 63% decrease in property offenses year-over-year, ranking in the 93rd percentile for crime reduction.
Violent crime rates have similarly declined by 62% over the past year, indicating positive momentum in neighborhood safety conditions. These improvement trends may support tenant retention and property values, though investors should monitor whether these reductions represent sustainable patterns or temporary fluctuations.
The property benefits from proximity to Silicon Valley's major technology employers, providing workforce housing for high-income professionals within commuting distance of corporate headquarters and regional offices.
- Adobe Systems — technology software (1.2 miles)
- Ebay — e-commerce technology (2.0 miles) — HQ
- Paypal Holdings — financial technology (3.8 miles) — HQ
- Verizon — telecommunications (4.5 miles)
- Nvidia — semiconductor technology (4.5 miles) — HQ
This San Jose property offers exposure to Silicon Valley's employment base while positioned in a top-quartile neighborhood with strong renter concentration. The 1997 construction year aligns with area norms, minimizing near-term capital expenditure needs. High median home values exceeding $1 million sustain rental demand by limiting ownership accessibility, while projected household growth of 36% through 2028 supports expanded tenant pools.
Neighborhood-level occupancy of 93% demonstrates solid absorption fundamentals, though elevated rent-to-income ratios warrant attention for renewal strategies. According to multifamily property research from WDSuite, the area's NOI per unit averages rank in the 95th percentile nationally, indicating strong revenue generation potential relative to comparable markets.
- Top-quartile neighborhood ranking with 73% renter-occupied housing concentration
- Proximity to major Silicon Valley employers within 5-mile radius
- Projected 36% household growth through 2028 supporting tenant demand
- 1997 construction year minimizes immediate capital expenditure needs
- Risk: Elevated rent-to-income ratios may pressure renewal rates