| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 51st | Poor |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 369 S 3rd St, San Jose, CA, 95112, US |
| Region / Metro | San Jose |
| Year of Construction | 1993 |
| Units | 63 |
| Transaction Date | 2017-12-06 |
| Transaction Price | $98,000 |
| Buyer | YWCA THIRD STREET INC |
| Seller | SUSANNE B WILSON LLC |
369 S 3rd St San Jose Multifamily Investment
Downtown San Jose’s renter concentration and amenity density indicate a durable tenant base, according to WDSuite’s CRE market data. Neighborhood occupancy trends sit near national norms, with leasing supported by a deep pool of renters and strong service access.
Positioned in San Jose’s Urban Core, the neighborhood ranks 67 out of 344 within the San Jose–Sunnyvale–Santa Clara metro, placing it in the top quartile among metro neighborhoods. Amenity access is a competitive strength: restaurants and grocery options land in the upper national percentiles, supporting walkable, convenience-driven living that helps leasing and renewals.
The housing stock trends newer than the metro average, and a 1993-vintage asset stands younger than the neighborhood’s typical 1975 build year—a relative advantage for functionality and curb appeal. Investors should still plan for system modernization and value-add scope consistent with early-1990s construction.
Multifamily performance indicators are balanced. Neighborhood occupancy is around the national midpoint, while income performance is competitive, with NOI per unit measures in the high national percentiles—supportive for stabilized operations. The share of housing units that are renter-occupied is elevated (near the top of metro rankings), which deepens the tenant base and reduces exposure to thin leasing pipelines.
Within a 3-mile radius, recent years show a modest population dip alongside an increase in household counts, implying smaller average household sizes and steady renter pool expansion. Forward-looking data point to growth in households and rising incomes, which can support rent levels and occupancy stability over time without relying on outsized lease-up assumptions.
Home values are high relative to national benchmarks, reinforcing reliance on multifamily rentals for many households. This context can support tenant retention and pricing power, though lease management should account for higher rent-to-income ratios in parts of the neighborhood to mitigate turnover risk.
Safety signals are mixed and should be underwritten conservatively. The area sits near the metro middle when compared with 344 neighborhoods in the region, and conditions are below national safety norms. Notably, recent data indicate year-over-year declines in both property and violent offense rates, an improving trend investors can monitor alongside on-site measures.
Operationally, common-sense controls—lighting, access management, and resident engagement—can support the on-site experience and retention while tracking neighborhood and metro trends for context.
Nearby technology and communications employers support leasing fundamentals through commute-friendly access and a diversified professional workforce. Key anchors include Adobe, eBay, PayPal, Verizon, and Sanmina.
- Adobe Systems — software (0.5 miles)
- Ebay — e-commerce (3.4 miles) — HQ
- Paypal Holdings — fintech/payments (3.7 miles) — HQ
- Verizon — telecommunications (4.6 miles)
- Sanmina — electronics manufacturing (4.8 miles) — HQ
369 S 3rd St is a 63-unit, 1993-vintage asset in San Jose’s Urban Core, benefiting from high renter concentration, extensive amenity access, and proximity to major employers. Neighborhood occupancy trends are near the national midpoint, while income performance indicators are comparatively strong, suggesting stable operations with room for targeted value-add. Elevated home values in the area reinforce renter reliance on multifamily housing, supporting demand depth and potential pricing power.
According to commercial real estate analysis from WDSuite, the property’s vintage is newer than the local average, offering a competitive position versus older stock while still allowing modernization to enhance rentability. Within a 3-mile radius, household counts are rising and are projected to expand further, supporting a larger tenant base; prudent underwriting should still account for affordability pressure and mixed safety signals when planning renovations and lease strategies.
- Urban Core location with high renter concentration and strong amenity access
- 1993 vintage offers competitive positioning with clear modernization/value-add pathways
- Proximity to major employers supports leasing velocity and retention
- Demand supported by rising household counts within 3 miles and elevated ownership costs
- Risks: affordability pressure and safety variability warrant conservative underwriting and active management