| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 51st | Poor |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 390 N 2nd St, San Jose, CA, 95112, US |
| Region / Metro | San Jose |
| Year of Construction | 1987 |
| Units | 38 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
390 N 2nd St, San Jose Multifamily Investment
Positioned in San Jose’s urban core, the property benefits from a deep renter base and strong amenity density in the surrounding neighborhood, according to WDSuite’s CRE market data. Neighborhood occupancy is around the metro midpoint, while elevated ownership costs locally help sustain rental demand.
The surrounding neighborhood is rated A- within the San Jose–Sunnyvale–Santa Clara metro and ranks 67th of 344 metro neighborhoods, signaling competitive fundamentals for multifamily investors. Amenity access is a clear strength: grocery availability ranks 2nd of 344 and restaurants 3rd, both in the top percentiles nationally, which supports renter convenience and lease retention.
Renter-occupied housing share in the neighborhood is high (76.8%), ranking 9th of 344 and in the top decile nationally, indicating a sizable tenant base for multifamily product. Neighborhood occupancy is near the metro median, suggesting stable, albeit competitive, leasing dynamics; pricing and concessions may vary by asset quality and management. Elevated median home values (top decile nationally) in the neighborhood reinforce reliance on rental housing, which can support demand depth and renewal capture.
Within a 3-mile radius, demographics show households have increased even as population edged lower, implying smaller household sizes and a renter pool that skews toward working-age cohorts. Median and mean household incomes have risen and are projected to continue growing, supporting rent levels; however, a higher rent-to-income environment in the neighborhood points to affordability pressure that owners should manage through lease strategies and unit mix. These dynamics, paired with the area’s strong amenities and proximity to jobs, create a resilient backdrop for multifamily, as reflected in WDSuite’s commercial real estate analysis.
Schools in the broader area trend below national averages on ratings, which can modestly narrow appeal to households prioritizing K–12 outcomes; positioning toward young professionals and workforce renters may align better with neighborhood demand patterns.
Safety trends are mixed and should be monitored with standard underwriting. The neighborhood’s overall crime rank sits around the metro midpoint (187th of 344), indicating conditions that are neither among the safest nor the highest-risk within the region. Compared with neighborhoods nationwide, safety lands below average, so prudent operational practices and security measures can help support resident satisfaction and retention.
Recent trend data shows notable year-over-year declines in both property and violent offense estimates at the neighborhood level, a positive directional signal for investors evaluating operating risk. While these improvements are encouraging, underwriting should assume variability over time and focus on property-level controls and community engagement.
Proximity to major tech and corporate employers underpins renter demand and commute convenience for workforce and professional tenants. Nearby anchors include Adobe, PayPal, eBay, Sanmina, and Intel.
- Adobe Systems — software (0.8 miles)
- Paypal Holdings — fintech (2.8 miles) — HQ
- Verizon — telecommunications offices (3.6 miles)
- Ebay — e-commerce (3.7 miles) — HQ
- Sanmina — electronics manufacturing (3.8 miles) — HQ
- Avnet — electronics distribution (3.9 miles)
- Qualcomm — semiconductors (4.0 miles)
- Nvidia — semiconductors & AI (4.4 miles) — HQ
- Bristol-Myers Squibb, BDC — life sciences offices (4.5 miles)
- Intel — semiconductors (5.0 miles) — HQ
Built in 1987, the asset is newer than much of the neighborhood’s housing stock and can compete well against older properties while still offering value-add levers through common-area updates, in-unit modernization, and systems upgrades as needed. Demand is supported by a high neighborhood renter concentration, strong amenities, and proximity to blue-chip employers, while neighborhood occupancy trends suggest stable—yet competitive—leasing that rewards quality operations.
According to commercial real estate analysis from WDSuite, elevated neighborhood home values help sustain rental reliance, and rising incomes within a 3-mile radius support rent levels over time. Key watch items include below-average school ratings, affordability pressure indicated by higher rent-to-income dynamics, and safety metrics that sit around the metro midpoint but have improved year over year.
- 1987 vintage offers competitive positioning versus older stock with targeted value-add potential
- Deep neighborhood renter base and top-tier amenity density support leasing and renewals
- Proximity to major tech employers underpins steady workforce demand
- High ownership costs locally reinforce multifamily demand and pricing power
- Risks: affordability pressure, below-average school ratings, and safety near metro midpoint