| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 54th | Poor |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 405 N 1st St, San Jose, CA, 95112, US |
| Region / Metro | San Jose |
| Year of Construction | 2003 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
405 N 1st St, San Jose Multifamily Investment
Renter demand is supported by a high renter-occupied share in the surrounding neighborhood and elevated ownership costs that tend to sustain multifamily absorption, according to WDSuite’s CRE market data. Neighborhood metrics such as occupancy and safety reflect area conditions, not this specific property.
Positioned in San Jose’s Urban Core, the asset benefits from strong everyday convenience. Neighborhood amenity access trends solid for groceries, dining, and parks compared with national benchmarks, while cafes and pharmacies are less dense. For investors, this mix points to resident convenience for essentials and entertainment, with fewer boutique conveniences nearby.
Construction year for the property is 2003, newer than the neighborhood’s average vintage. That positioning typically offers competitiveness versus older stock and the potential to command interest with selective upgrades as building systems age.
Within a 3-mile radius, household counts have grown over the last five years and are projected to continue expanding, even as total population has edged down; this shift implies smaller household sizes and a broader tenant base for multifamily. Median incomes in the 3-mile area are high and trending upward, supporting rent levels and helping stabilize collections and renewals.
Neighborhood-level housing data indicates a high share of units are renter-occupied, signaling depth in the tenant pool and supporting lease-up and retention. Elevated home values in the area indicate a high-cost ownership market, which typically reinforces reliance on multifamily rentals and supports pricing power when managed thoughtfully.
School ratings in the immediate neighborhood trail national averages, which may temper appeal for some family renters; operators often address this with amenity programming and unit finish strategies targeted to workforce and young professional segments. Overall neighborhood performance sits around the metro median, with NOI per unit competitive among San Jose–Sunnyvale–Santa Clara neighborhoods based on CRE market data from WDSuite.
Safety indicators for the neighborhood trend below national averages, with violent-offense comparisons placing the area near the bottom decile nationally. That said, property-offense rates have improved meaningfully year over year, indicating a favorable recent trend. These figures reflect neighborhood conditions among 344 metro neighborhoods and do not describe block-level or on-site safety.
Investors commonly plan for enhanced lighting, access control, and tenant engagement to support resident experience and retention in locations where comparative safety metrics are weaker, while monitoring the improving trend in property-related incidents noted by WDSuite’s CRE market data.
The property sits near a concentrated employment base that supports renter demand and commute convenience, including technology and payments headquarters and major offices: Adobe, PayPal, eBay, Nvidia, and Intel.
- Adobe Systems — software (0.76 miles)
- Paypal Holdings — payments (2.78 miles) — HQ
- Ebay — ecommerce (3.66 miles) — HQ
- Nvidia — semiconductors (4.38 miles) — HQ
- Intel — semiconductors (4.93 miles) — HQ
Built in 2003 with 32 units, the property offers a relatively newer vintage versus much of the surrounding stock, supporting competitive positioning with targeted modernization as systems age. A high neighborhood renter-occupied share and elevated ownership costs underpin demand depth and lease retention, even as neighborhood occupancy trends have been softer than metro leaders. According to CRE market data from WDSuite, amenity access for groceries, dining, and parks is strong, aligning with resident convenience fundamentals.
Within a 3-mile radius, household counts have increased and are projected to expand further, while incomes are rising—factors that typically support a larger tenant base and rent levels. Proximity to major employers in downtown and North San Jose adds leasing resiliency for workforce and professional tenants. Key risks include neighborhood safety metrics that trail national norms and area-level occupancy that merits disciplined lease management.
- 2003 vintage offers competitive positioning versus older stock; targeted renovations can enhance performance
- High neighborhood renter-occupied share supports demand depth and leasing stability
- Elevated ownership costs in the area reinforce reliance on multifamily rentals and pricing power
- Strong proximity to major tech employers supports absorption and retention
- Risks: neighborhood safety metrics below national averages and softer local occupancy require active management