| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 83rd | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 370 Elan Village Ln, San Jose, CA, 95134, US |
| Region / Metro | San Jose |
| Year of Construction | 1992 |
| Units | 106 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
370 Elan Village Ln San Jose Multifamily Investment
Neighborhood occupancy sits in the low 90s with a deep renter base, supporting steady leasing dynamics according to WDSuite’s CRE market data. Elevated ownership costs in North San Jose tend to sustain renter demand, favoring long-term cash flow stability.
Located in San Jose’s inner-suburban North San Jose/River Oaks corridor, the neighborhood rates A and stands above metro peers (ranked 24 out of 344 San Jose–Sunnyvale–Santa Clara neighborhoods). Amenity access is strong for daily needs and dining, landing in the top quartile nationally, which helps with retention and lease-up velocity.
Lifestyle conveniences are competitive among San Jose–Sunnyvale–Santa Clara neighborhoods: restaurants and groceries rank well within the metro, with national percentiles in the high 70s to high 80s. Average school ratings are mid-range locally, which can be adequate for workforce households while putting a premium on nearby private/charter options.
The area skews strongly renter-occupied at the neighborhood level, indicating a sizable tenant pool and demand depth for multifamily. Median contract rents are high relative to most U.S. neighborhoods, but rent-to-income ratios remain manageable here, supporting pricing power without materially elevating retention risk.
Within a 3-mile radius, demographics indicate population growth in the prior period and a projected increase in households alongside smaller average household sizes over the next five years. This mix points to a larger tenant base and more one- to two-person households entering the market, which generally supports occupancy stability for well-located assets. Elevated home values locally create a high-cost ownership market, reinforcing renter reliance on multifamily housing and favoring lease duration and renewal propensity.
Vintage and competitiveness: Built in 1992, the property is slightly older than the neighborhood’s typical stock (early-1990s). Investors should anticipate selective modernization and systems updates to stay competitive versus newer product, with potential for value-add premiums if upgrades align with local renter preferences.
Safety performance is mixed and should be underwritten thoughtfully. Compared with neighborhoods nationwide, this area sits in lower safety percentiles, and within the San Jose–Sunnyvale–Santa Clara metro it ranks toward the weaker end (crime rank 305 out of 344 neighborhoods). Recent data points to year-over-year increases in both property and violent offenses, so prudent measures such as access control, lighting, and partnership with local security resources can help manage exposure.
For investors, the takeaway is comparative rather than absolute: safety trends currently trail metro averages, yet the location’s employment access and renter demand can offset some of this risk when paired with appropriate operational strategies and resident experience investments.
Proximity to major tech and corporate offices supports workforce renter demand and commute convenience, notably Avnet, Sanmina, Qualcomm, Bristol-Myers Squibb (BDC), and Verizon located within roughly a mile.
- Avnet — electronics distribution (0.35 miles)
- Sanmina — electronics manufacturing (0.63 miles) — HQ
- Qualcomm — semiconductors (0.73 miles)
- Bristol-Myers Squibb, BDC — biopharma (0.83 miles)
- Verizon — telecom (1.08 miles)
This 106-unit, early-1990s asset sits in a high-income, renter-oriented neighborhood where occupancy at the neighborhood level remains in the low 90s, supporting predictable leasing. Elevated home values create a high-cost ownership market, which tends to reinforce renter reliance on multifamily housing and support pricing power. Based on CRE market data from WDSuite, amenity access ranks competitively in the metro and in the top quartile nationally, which can aid retention.
Construction year 1992 is slightly older than the neighborhood’s early-1990s average, suggesting targeted renovations and systems updates can improve positioning versus newer stock. Within a 3-mile radius, forecasts point to a meaningful increase in households and smaller average household sizes, indicating a larger tenant base and steady demand for professionally managed apartments.
- Renter-oriented neighborhood with stable occupancy supporting cash flow consistency.
- High-cost ownership market sustains rental demand and pricing power.
- Amenity-rich location competitive in the metro, aiding retention and leasing.
- 1992 vintage offers value-add potential through targeted modernization.
- Risk: Safety metrics trail metro averages; underwriting should include security and OPEX contingencies.