| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 89th | Best |
| Demographics | 56th | Fair |
| Amenities | 86th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4501 Snell Ave, San Jose, CA, 95136, US |
| Region / Metro | San Jose |
| Year of Construction | 1994 |
| Units | 106 |
| Transaction Date | 2019-11-15 |
| Transaction Price | $1,452,000 |
| Buyer | TREA TERRA HOUSE LLC |
| Seller | BRE SILVER MF SKYWAY CA LLC |
4501 Snell Ave San Jose Multifamily Investment
Neighborhood occupancy of 96.9% supports income stability for well-positioned assets in this pocket of San Jose, according to WDSuite’s CRE market data; this reflects submarket-level renter demand rather than performance of the property itself.
Situated in San Jose’s Urban Core, the neighborhood ranks 62 out of 344 metro neighborhoods (A- rating), placing it above the metro median and signaling durable rental fundamentals for investors. Amenity access is competitive among San Jose neighborhoods (amenity rank 28 of 344), with restaurants, cafes, grocery, parks, and pharmacies all testing in the 80th–90th national percentiles, which supports daily convenience and leasing appeal.
Renter concentration is high, with 57.6% of housing units renter-occupied (93rd national percentile), indicating a deep tenant base. Neighborhood occupancy is 96.9% (83rd national percentile), which has eased slightly over five years but remains supportive of pricing and retention management. Median contract rents in the neighborhood sit in the upper end of the national distribution, while the local rent-to-income ratio near 0.27 suggests watchpoints for affordability pressure, especially for renewal strategies.
Within a 3-mile radius, demographics show households edging higher over the last five years while population contracted modestly, pointing to smaller average household sizes and a renter pool that is reshaping rather than expanding rapidly. Looking ahead, 3-mile forecasts indicate a meaningful increase in household counts alongside smaller household sizes, which can widen the renter pool and support occupancy stability even if population growth is muted.
Home values in the neighborhood test in the mid-90s national percentile, indicating a high-cost ownership market; this typically sustains reliance on multifamily housing and can aid lease-up and retention for competitive product. Average school ratings are lower (about 2.0 out of 5), which may temper appeal for some family renters; however, proximity to job centers and daily amenities offsets some of that risk for workforce-oriented demand.
Safety metrics are mixed when compared nationally, with neighborhood ranks placing it below the metro median for San Jose (crime rank 205 out of 344). National percentiles indicate the area is less safe than the typical U.S. neighborhood; however, both violent and property offense rates show year-over-year improvement, with double-digit declines suggesting conditions are trending in a favorable direction.
For investors, the takeaway is to underwrite appropriate security measures and tenant-experience management while recognizing recent momentum. Comparatively, the neighborhood is competitive within the metro for access and employment, which can support leasing despite safety headwinds.
Nearby corporate nodes anchor a large professional workforce and support renter demand, with commute-friendly access to eBay, Adobe Systems, IBM Silicon Valley Lab, Netflix, and PayPal.
- eBay — e-commerce HQ (5.3 miles) — HQ
- Adobe Systems — software (5.4 miles)
- IBM Silicon Valley Lab — enterprise technology (7.0 miles)
- Netflix — streaming media HQ (7.0 miles) — HQ
- PayPal Holdings — digital payments HQ (8.8 miles) — HQ
This 106-unit, 1994-vintage asset sits slightly newer than the neighborhood average, providing relative competitiveness against older stock while leaving room for programmatic upgrades to systems and common areas over a hold. Neighborhood occupancy at 96.9% and a 57.6% share of renter-occupied housing units point to a deep tenant base and supportive leasing backdrop. High ownership costs in the area further reinforce reliance on multifamily product, helping sustain demand. Based on CRE market data from WDSuite, NOI performance for comparable neighborhoods trends in the top quartile nationally, aligning with the area’s amenity access and employment connectivity.
Key underwriting considerations include affordability pressure at renewal given upper-tier rents and modest school ratings, alongside safety metrics that, while improving, trail national norms. Proximity to major employers provides an offset by diversifying the professional tenant base and supporting retention.
- High neighborhood occupancy and strong renter concentration support income durability.
- 1994 vintage offers competitive positioning with value-add potential through targeted upgrades.
- High-cost ownership market reinforces reliance on rentals, aiding lease-up and retention.
- Proximity to eBay, Adobe, IBM, Netflix, and PayPal underpins a stable professional renter base.
- Risks: affordability pressure, lower school ratings, and below-average national safety metrics despite improving trends.