| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Good |
| Demographics | 44th | Poor |
| Amenities | 48th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 525 S 9th St, San Jose, CA, 95112, US |
| Region / Metro | San Jose |
| Year of Construction | 2009 |
| Units | 61 |
| Transaction Date | 2004-09-08 |
| Transaction Price | $605,472 |
| Buyer | CITY OF SAN JOSE |
| Seller | HOUSING FOR INDEPENDENT PEOPLE INC |
525 S 9th St San Jose Multifamily Investment
This 61-unit property built in 2009 sits in a neighborhood with strong occupancy at 93.4% and exceptional NOI performance ranking in the top 4% among 344 metro neighborhoods.
The 525 S 9th Street property operates within San Jose's urban core, where 70.7% of housing units are renter-occupied, ranking in the top 6% nationally and supporting consistent rental demand. Built in 2009, this property represents newer construction compared to the neighborhood average of 1974, positioning it competitively for tenant attraction with potentially lower near-term capital expenditure needs.
Neighborhood-level occupancy maintains stability at 93.4%, though slightly below the metro median among 344 neighborhoods. Contract rents average $1,879 for single-bedroom units with 35% growth over five years, reflecting sustained pricing power. Demographics within a 3-mile radius show a population of 214,071 with 61.6% of households renting, supporting the tenant base. Median household income reaches $112,698 with strong projected growth to $154,885 by 2028, indicating improving tenant quality.
The neighborhood ranks in the top quartile nationally for amenity access, with exceptional grocery store density at 8.8 stores per square mile ranking 11th among metro neighborhoods. Restaurant density also performs well at 16.5 per square mile, ranking in the top 15% locally. Home values averaging $891,872 with a 10.1 value-to-income ratio reinforce rental demand, as elevated ownership costs keep households in the rental market longer.
Property crime rates in the neighborhood show mixed signals, with current levels ranking 291st among 344 metro neighborhoods but demonstrating significant improvement with a 50% reduction over the past year, placing the neighborhood in the top 15% nationally for crime reduction trends. Violent crime rates similarly improved 66% year-over-year, ranking in the top 7% nationally for improvement.
While absolute crime levels remain above metro averages, the substantial downward trend suggests improving conditions that may support tenant retention and property values over time. Investors should monitor whether these positive trends continue and consider the impact on insurance costs and tenant demographics.
The property benefits from proximity to major technology employers that anchor the regional economy and provide stable workforce housing demand.
- Adobe Systems — software technology (0.9 miles)
- Ebay — e-commerce technology (3.7 miles) — HQ
- Paypal Holdings — financial technology (4.0 miles) — HQ
- Verizon — telecommunications (4.8 miles)
- Nvidia — semiconductor technology (5.6 miles) — HQ
This 61-unit property presents a compelling investment opportunity anchored by exceptional NOI performance ranking in the top 2% among 344 metro neighborhoods at $20,028 per unit average. According to commercial real estate analysis from WDSuite, the 2009 construction vintage positions the asset competitively within a neighborhood where average building age is 1974, potentially reducing near-term capital expenditure while maintaining tenant appeal. The 70.7% renter-occupied housing share ranks in the top 3% nationally, supporting sustained rental demand.
Demographics within a 3-mile radius show household income growth from $77,612 in 2018 to $112,698 currently, with projections reaching $154,885 by 2028, indicating improving tenant quality and rent growth potential. While neighborhood occupancy at 93.4% sits slightly below metro medians, the substantial crime reduction trends and proximity to major technology employers provide positive momentum for tenant retention and property performance.
- Exceptional NOI performance ranking top 2% among metro neighborhoods
- Strong rental demand supported by 70.7% renter-occupied housing share
- Projected household income growth to $154,885 by 2028 supports rent increases
- 2009 construction provides competitive positioning with reduced capital needs
- Risk: Neighborhood occupancy below metro average requires active leasing management