| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 89th | Best |
| Demographics | 47th | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 445 N Capitol Ave, San Jose, CA, 95133, US |
| Region / Metro | San Jose |
| Year of Construction | 1978 |
| Units | 108 |
| Transaction Date | 2019-09-18 |
| Transaction Price | $20,000,000 |
| Buyer | LA BUONA VITA MHC LP |
| Seller | LA BUONA VITA LLC |
445 N Capitol Ave, San Jose Multifamily Investment
Stabilized renter demand and tight neighborhood occupancy support predictable operations, according to WDSuite’s CRE market data. The 108-unit scale offers operating efficiencies in a high-cost ownership market that sustains rental reliance.
Located in San Jose’s Urban Core, the neighborhood posts high-90s occupancy at the neighborhood level, aiding leasing stability for multifamily operators. Against 344 metro neighborhoods, overall fundamentals are above the metro median, with amenity access competitive among San Jose–Sunnyvale–Santa Clara submarkets and strong by national comparison (top quartile nationally for overall amenities).
Everyday convenience is a standout: restaurant density sits in the national top decile, with cafes and childcare also in the 90th percentile range; grocery and pharmacy access are similarly strong. These concentrations translate into renter appeal and day-to-day livability that can support retention and renewal performance.
Housing stock in the immediate area skews newer than the region’s average vintage (mid‑1990s), while this asset’s 1978 construction is older by comparison—an angle that can support value‑add planning or targeted capital programs to elevate finishes, systems, and competitive positioning among newer stock.
Renter-occupied housing accounts for roughly 38% of units in the neighborhood, indicating a meaningful tenant base for multifamily operators. Within a 3‑mile radius, data show population drift modestly down in recent years, yet households are projected to increase while average household size declines—signals that can expand the renter pool through smaller households and bolster demand for well‑located units. Elevated home values and a high value‑to‑income landscape reinforce reliance on multifamily housing, supporting pricing power while keeping an eye on lease management as rent‑to‑income levels evolve.
Safety indicators for the neighborhood trend below the metro average among 344 San Jose–Sunnyvale–Santa Clara neighborhoods, and national comparisons place the area in lower percentiles for overall safety. Recent trends are mixed: violent‑offense rates improved year over year, while property‑offense activity remains elevated. Investors should underwrite with pragmatic assumptions for security measures and potential downtime contingencies, while monitoring the improving trend in violent incidents.
Proximity to major corporate offices underpins workforce housing demand and commute convenience for residents. Nearby employers include Adobe, Qualcomm, PayPal, Bristol-Myers Squibb, and Avnet.
- Adobe Systems — software (3.9 miles)
- Qualcomm — semiconductors (4.0 miles)
- Paypal Holdings — digital payments (4.2 miles) — HQ
- Bristol-Myers Squibb, BDC — pharma offices (4.3 miles)
- Avnet — electronics distribution (4.4 miles)
445 N Capitol Ave offers 108 units in a San Jose neighborhood with consistently tight occupancy at the neighborhood level, supporting leasing durability and operational visibility. Elevated home values and a high value‑to‑income environment point to a high‑cost ownership market, which typically sustains renter reliance and supports pricing power for well‑managed assets.
The 1978 vintage is older than nearby stock that averages the mid‑1990s, presenting a clear value‑add path through targeted renovations and systems upgrades. Within a 3‑mile radius, population has softened, but households are projected to rise as average household size declines—signals that can expand the renter pool and support occupancy stability. According to CRE market data from WDSuite, renter-occupied housing represents a meaningful share of neighborhood units, indicating depth in the tenant base for mid‑scale multifamily.
- Tight neighborhood occupancy supports steady leasing and cash flow management.
- High-cost ownership landscape reinforces renter dependence and pricing power.
- 1978 vintage provides value‑add and capital planning opportunities versus newer nearby stock.
- 3‑mile household growth and smaller household sizes can broaden the renter pool and support absorption.
- Risk: below‑average school ratings and safety metrics warrant conservative underwriting and amenity/security positioning.