| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Fair |
| Demographics | 72nd | Good |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 398 Boynton Ave, San Jose, CA, 95117, US |
| Region / Metro | San Jose |
| Year of Construction | 1974 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
398 Boynton Ave, San Jose Multifamily Investment
Renter concentration and strong amenity access in the surrounding neighborhood point to durable leasing demand, based on CRE market data from WDSuite. These dynamics support occupancy management and rent positioning while acknowledging competitive pressures typical of San Jose s Urban Core.
Located in San Jose s Urban Core, the surrounding neighborhood carries a B+ rating and ranks 110 out of 344 metro neighborhoods competitive among San Jose Sunnyvale Santa Clara submarkets. Amenity density is a clear strength: grocery access sits in the top national percentiles, and both cafes and restaurants are also strong compared with neighborhoods nationwide, supporting resident convenience and day-to-day livability.
For multifamily demand, the neighborhood s renter-occupied share is elevated at roughly two-thirds of housing units, indicating a deep tenant base for leasing and renewals. Median contract rent levels benchmark in higher national percentiles, while rent-to-income metrics suggest manageable affordability pressure relative to local incomes useful for retention and measured pricing strategies. Home values sit in high national percentiles as well, signaling a high-cost ownership market that can reinforce reliance on rental housing and support occupancy stability.
Within a 3-mile radius, demographics indicate a broadly stable population with a recent increase in households and a projected further rise alongside smaller average household sizes. This points to a gradually expanding renter pool over the medium term, which can aid absorption and reduce leasing friction for comparable asset types. According to WDSuite s CRE market data, neighborhood NOI per unit trends rank above many peers nationally, aligning with the area s income profile and amenity support.
The property was built in 1974, a few years older than the neighborhood s average vintage. That positioning may present value-add opportunities through targeted renovations and systems upgrades to remain competitive against newer stock, while leveraging the area s employment and amenity fundamentals. Note that neighborhood occupancy is below the metro median and has softened versus five years ago; investors should underwrite to current competitive conditions and emphasize operational execution.
Safety metrics for the neighborhood are mixed relative to the metro and nation. The area s crime rank sits around the middle of San Jose Sunnyvale Santa Clara neither top-tier nor among the weakest when compared with 344 metro neighborhoods. Nationally, the neighborhood is roughly around the mid-range overall.
Recent trend data from WDSuite indicate notable year-over-year improvements, with both property and violent offense estimates declining at rates that compare favorably to many neighborhoods nationwide (top quartile improvement nationally). For investors, these trends support a cautiously constructive outlook, though prudent property-level security and resident engagement remain advisable.
Proximity to major tech employers underpins local renter demand, supporting lease-up and retention for workforce and professional tenants. Nearby anchors include Apple offices, eBay, and Nvidia all within a short drive.
- Apple Stevens Creek 8 technology offices (2.2 miles)
- Apple Tantau 14 technology offices (2.4 miles)
- Ebay technology marketplace HQ (2.8 miles) HQ
- Nvidia semiconductors & AI (3.5 miles) HQ
- Apple corporate offices (3.7 miles)
398 Boynton Ave benefits from a renter-heavy neighborhood, strong amenity density, and adjacency to blue-chip employers. According to CRE market data from WDSuite, the surrounding area ranks competitively within the metro on overall performance, with high national percentiles for grocery and dining access and a high-cost ownership landscape that reinforces multifamily demand. Neighborhood occupancy has trended softer, but the deep base of renter-occupied units and resilient household formation within a 3-mile radius support ongoing tenant demand and leasing momentum.
Built in 1974, the asset is modestly older than the neighborhood average, suggesting a clear value-add path through renovations and modernization to maintain competitive positioning. Underwriting should balance San Jose s pricing power drivers income depth, employer proximity, and amenity strength against operational execution needs in a competitive Urban Core setting.
- Renter-occupied share well above metro median supports a deep tenant base and renewal potential.
- High-cost ownership market sustains reliance on rentals, aiding occupancy stability and pricing discipline.
- Amenity-rich location with nationally strong grocery, cafe, and restaurant access enhances livability and leasing.
- 1974 vintage provides value-add and systems-upgrade opportunities to sharpen competitive positioning.
- Risk: Neighborhood occupancy trails metro norms; success depends on targeted renovations and disciplined lease management.