| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 43rd | Poor |
| Amenities | 57th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 420 Sands Dr, San Jose, CA, 95125, US |
| Region / Metro | San Jose |
| Year of Construction | 1997 |
| Units | 112 |
| Transaction Date | 2015-04-01 |
| Transaction Price | $23,680,000 |
| Buyer | Sierra Point Group, LLC |
| Seller | Community Housing Developers, Inc |
420 Sands Dr, San Jose Multifamily Investment
Positioned in San Jose’s urban core, the asset benefits from a deep renter base and high-cost ownership dynamics that help sustain demand, according to WDSuite’s CRE market data.
This 112-unit community sits within an Urban Core neighborhood where renter-occupied housing is prevalent, indicating a sizeable tenant base and support for leasing stability. Neighborhood occupancy is in line with national norms, and elevated ownership costs in Santa Clara County typically reinforce renter reliance on multifamily housing rather than competing with it.
Amenity access is solid for daily needs, with grocery and dining density competitive for the metro, and childcare availability performing in the top quartile nationally. Park and pharmacy access is thinner within the immediate neighborhood footprint, so residents may rely on nearby districts for those services.
Within a 3-mile radius, household incomes skew high and median contract rents are consistent with broader Silicon Valley pricing. While population has been relatively flat, households have grown and are projected to increase further by 2028, pointing to smaller household sizes and a steady expansion of the renter pool that supports occupancy stability.
Vintage at the property (built 1997) is slightly newer than the neighborhood average year of construction, offering competitive positioning versus older stock while still warranting selective modernization and systems upgrades to support rentability and retention. Neighborhood-level NOI per unit trends are above many national benchmarks, which aligns with the area’s income profile and sustained renter demand.
Neighborhood safety indicators track below national averages, reflecting a more urban context. Even so, recent data shows a meaningful year-over-year improvement in property crime, while violent crime trends warrant active monitoring and standard multifamily security measures.
At the metro level (San Jose–Sunnyvale–Santa Clara; 344 neighborhoods), the area is competitive with other urban districts but not among the top quartile for safety. Investors should underwrite routine security, lighting, and access-control programs consistent with comparable San Jose assets.
Proximity to major tech employers underpins workforce housing demand and supports retention through commute convenience. Nearby anchors include e-commerce, software, streaming, and fintech headquarters and offices.
- Ebay — e-commerce HQ (3.0 miles) — HQ
- Adobe Systems — software (3.2 miles)
- Netflix — streaming media (5.4 miles) — HQ
- Paypal Holdings — fintech (6.6 miles) — HQ
- Verizon — telecommunications (7.4 miles)
420 Sands Dr offers scale in an income-rich pocket of San Jose where renter-occupied housing is substantial and ownership costs are elevated, reinforcing multifamily demand and supporting leasing durability. According to CRE market data from WDSuite, neighborhood occupancy performs around national norms, with strong local incomes and high home values helping sustain pricing power and depth of the tenant base.
Built in 1997, the property is slightly newer than the neighborhood average, suggesting competitive positioning versus older assets and potential to capture value through targeted renovations and system updates. Within a 3-mile radius, households are projected to increase, which points to a broader renter pool and supports long-term absorption. Investors should account for urban safety dynamics and amenity gaps (notably parks/pharmacies) with standard operating measures.
- Demand drivers: sizeable renter-occupied share and high-cost ownership market sustain tenant depth
- Income profile: strong household incomes in the 3-mile area bolster rent attainment and retention
- Asset positioning: 1997 vintage offers competitive footing with value-add and modernization potential
- Forward outlook: projected household growth locally supports absorption and occupancy stability
- Risks: urban safety metrics below national averages and thinner nearby park/pharmacy access