| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Good |
| Demographics | 33rd | Poor |
| Amenities | 44th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5450 Monterey Hwy, San Jose, CA, 95111, US |
| Region / Metro | San Jose |
| Year of Construction | 1974 |
| Units | 55 |
| Transaction Date | 2022-05-10 |
| Transaction Price | $4,175,000 |
| Buyer | CAMP SPE LLC |
| Seller | CASA ALONDRA MOBILE HOME PARK LLC |
5450 Monterey Hwy San Jose Multifamily Investment
Neighborhood fundamentals point to durable renter demand and high occupancy, according to WDSuite’s CRE market data, with elevated ownership costs in Santa Clara County supporting sustained reliance on rental housing.
Situated in San Jose’s Urban Core, the property benefits from a neighborhood occupancy environment that is above metro median and competitive among 344 San Jose–Sunnyvale–Santa Clara neighborhoods, with performance also ranking in the top quartile nationally. For investors, this backdrop supports leasing stability across cycles.
Renter-occupied share in the neighborhood is also above the metro median and in the top quartile nationally, indicating a deep tenant base for multifamily assets. Within a 3-mile radius, households have expanded even as average household size trends lower, signaling a larger pool of household formations and a broader renter pool over time.
Local livability drivers are mixed but serviceable for workforce renters: grocery access is competitive among metro neighborhoods and strong versus national comparables, while restaurants are reasonably represented. Cafés, parks, and pharmacies are relatively sparse nearby, which may modestly affect lifestyle convenience. Average school ratings in the neighborhood sit on the lower end of the scale; investors targeting family renters should underwrite accordingly.
Home values in the neighborhood are elevated relative to national benchmarks and among the highest percentiles nationally, a high-cost ownership landscape that tends to reinforce rental demand and support retention. Rent-to-income levels benchmark below national norms, which can ease affordability pressure and aid renewals. The asset’s 1974 vintage is older than the neighborhood’s average construction year; investors should plan for targeted capital expenditures and consider value-add upgrades to enhance competitive positioning against newer stock.
Safety trends in this neighborhood are weaker than both metro and national benchmarks. Relative to 344 metro neighborhoods, crime ranks in the lower tiers, and national percentiles also indicate below-average safety. Recent year-over-year readings show some uptick in violent offenses, while property offenses remain elevated versus national peers.
For underwriting, this suggests incorporating prudent security measures, ensuring well-lit common areas, and coordinating with professional management to support resident comfort and retention. Framing expectations with these factors can help maintain leasing performance even where safety metrics trail broader regional trends.
Proximity to major technology employers underpins a sizeable commuter tenant base and supports retention through commute convenience. Nearby anchors include IBM, Adobe, eBay, Netflix, and PayPal — all represented within typical commuter ranges.
- IBM Silicon Valley Lab — technology & research offices (5.2 miles)
- Adobe Systems — enterprise software (7.1 miles)
- Ebay — e-commerce (7.3 miles) — HQ
- Netflix — streaming media (8.8 miles) — HQ
- Paypal Holdings — payments (10.5 miles) — HQ
This 1974-vintage, 55-unit asset is positioned to serve a deep renter base amid high-cost homeownership dynamics in Santa Clara County. Based on commercial real estate analysis from WDSuite, the surrounding neighborhood shows above-median metro occupancy with nationally competitive standings, indicating resilient leasing fundamentals. Elevated home values reinforce renter reliance on multifamily housing, while rent-to-income levels benchmark favorably, supporting retention and manageable turnover.
Within a 3-mile radius, households have increased and are projected to expand further even as household size declines, pointing to a broader tenant base and sustained demand for smaller and renovated units. The 1974 vintage implies scope for value-add through systems modernization and unit/interior upgrades to maintain competitiveness against newer supply, particularly given proximity to major tech employers that underpin consistent renter demand.
- Competitive neighborhood occupancy and strong renter-occupied share support stable leasing.
- High-cost ownership market bolsters rental demand and potential retention.
- Value-add potential from 1974 vintage via targeted capex and interior upgrades.
- Nearby tech employers (IBM, Adobe, eBay, Netflix, PayPal) deepen the commuter tenant pool.
- Risks: safety metrics trail metro and national averages and local schools rate low; plan for security and careful tenant targeting.