| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Fair |
| Demographics | 53rd | Poor |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3779 Blackford Ave, San Jose, CA, 95117, US |
| Region / Metro | San Jose |
| Year of Construction | 1976 |
| Units | 28 |
| Transaction Date | 2015-08-26 |
| Transaction Price | $9,250,000 |
| Buyer | THE SPIEKER LIVING TRUST |
| Seller | KOHLI RITA |
3779 Blackford Ave, San Jose Multifamily Investment
Neighborhood data points to a high renter concentration and sustained tenant depth, according to WDSuite’s CRE market data. Positioned near major Silicon Valley employment nodes, the asset’s location supports durable leasing fundamentals.
The property sits in San Jose’s Urban Core, where neighborhood-level asking rents trend higher than national norms and renter demand is supported by a large base of renter-occupied housing units (64.2% of units are renter-occupied in the neighborhood). In this context, 3779 Blackford Ave benefits from proximity to shopping and daily needs, with dining, cafes, childcare, and groceries comparatively dense for the metro, while parks and pharmacies are less prevalent within the immediate neighborhood footprint. These dynamics generally favor tenant convenience and lease retention while suggesting residents rely on nearby commercial corridors for recreation and services.
At the neighborhood level, occupancy has moderated in recent years, which warrants attention to renewal strategies and leasing velocity. Even so, the depth of the renter pool and the area’s high-cost ownership market (home values are elevated for the metro and nationally) tend to sustain rental demand and support pricing power. The neighborhood’s rental rates rank in a high national percentile, while rent-to-income levels indicate room for disciplined lease management rather than aggressive concessions.
Construction trends skew older locally (average vintage early-1970s). With a 1976 build, the property is slightly newer than the average stock, offering relative competitiveness versus older assets; investors should still plan for targeted system updates and modernization to meet today’s resident expectations. Average unit sizes of roughly mid-800s square feet support a mix geared toward working households.
Within a 3-mile radius, demographics show stable population with a projected increase in households and smaller household sizes over the next five years. This pattern typically expands the tenant base for multifamily, supports occupancy stability, and aligns with demand for well-located apartments near employment. Based on WDSuite’s commercial real estate analysis, neighborhood NOI per unit benchmarks are strong versus national peers, underscoring operating potential for efficient operators.
Neighborhood safety indicators are mixed when compared nationally: overall crime levels track close to the national middle, with property incidents comparatively higher than many areas but trending downward. Recent data shows notable year-over-year declines in both violent and property offense rates, indicating improving conditions versus prior periods, based on WDSuite’s CRE data coverage. Investors should underwrite standard security measures and lighting as part of value preservation, while monitoring the downward trend as a potential tailwind for leasing.
The location draws from a deep tech employment base, with nearby Apple offices and major headquarters for eBay, Netflix, and Nvidia supporting strong renter demand and commute convenience for professionals.
- Apple - Stevens Creek 8 — corporate offices (2.07 miles)
- Apple - Tantau 14 — corporate offices (2.36 miles)
- Ebay — ecommerce HQ (2.67 miles) — HQ
- Netflix — streaming HQ (3.83 miles) — HQ
- Nvidia — semiconductor HQ (3.92 miles) — HQ
3779 Blackford Ave is a 1976-vintage, 28-unit asset positioned near leading Silicon Valley employers. The neighborhood exhibits high renter concentration and elevated ownership costs—factors that generally sustain multifamily demand and support lease retention. According to CRE market data from WDSuite, neighborhood rents benchmark well above national norms, and NOI per unit metrics are strong versus national peers, while the local occupancy trend suggests the need for disciplined leasing and renewal execution.
The property’s slightly newer-than-average vintage for the area, combined with mid-sized floor plans, positions it competitively versus older stock. Targeted renovations and system upgrades can further enhance tenant appeal. Within a 3-mile radius, forecasts point to an increase in households and smaller household sizes—an underpinning for renter pool expansion—though investors should monitor any gradual shift toward ownership in the broader area.
- High renter concentration and elevated ownership costs support durable tenant demand
- Strong rent benchmarks and competitive NOI per unit versus national peers
- 1976 vintage offers relative competitiveness with value-add potential via modernization
- 3-mile forecasts indicate household growth and smaller household sizes, expanding the renter base
- Risk: Neighborhood occupancy has softened; proactive lease management and amenity upgrades are important