| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 96th | Best |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 598 Columbia Ave, San Jose, CA, 95126, US |
| Region / Metro | San Jose |
| Year of Construction | 1999 |
| Units | 110 |
| Transaction Date | 1997-09-25 |
| Transaction Price | $1,010,500 |
| Buyer | PENSIONE BIRD SRO LTD PARTNERSHIP |
| Seller | PAK & COMPANY III |
598 Columbia Ave San Jose Multifamily Investment
Positioned in an amenity-rich urban core with strong incomes and a high renter concentration, the asset benefits from durable tenant demand even as neighborhood occupancy trends warrant close monitoring, according to WDSuite’s CRE market data.
Located in San Jose’s Urban Core, the property sits within a neighborhood rated A+ and ranked 8 out of 344 metro neighborhoods, placing it among the top performers locally. Amenity access is a differentiator: restaurants and parks rank competitively among 344 San Jose–Sunnyvale–Santa Clara neighborhoods, with national measures indicating top quartile availability. This density supports leasing velocity and daily convenience for residents.
The building’s 1999 vintage is newer than the neighborhood’s average construction year (1992; rank 46 of 344), which can enhance competitive positioning versus older stock. Investors should still plan for targeted modernization as systems age, but the relative vintage supports near-term appeal without the full scope of capital typical for older assets.
Renter-occupied housing is elevated (rank 43 of 344), signaling a deep tenant base and broad acceptance of multifamily living in this sub-area. Within a 3-mile radius, demographic statistics show households have increased even as average household size edged lower, expanding the potential renter pool and supporting occupancy stability over the medium term.
Home values are elevated locally (national percentile high), which generally sustains reliance on rental housing and can support pricing power and lease retention. Neighborhood rents also benchmark high nationally, while rent-to-income ratios remain manageable in context, suggesting room for disciplined revenue management rather than aggressive premiums.
Neighborhood safety indicators track near the metro median (crime rank 169 out of 344). Compared with neighborhoods nationwide, the area’s current crime readings sit in lower national percentiles, indicating weaker safety conditions relative to many U.S. neighborhoods. However, recent trends show year-over-year declines in both violent and property offenses, suggesting conditions have been improving.
For underwriting, frame safety as a risk factor offset by improvement momentum and strong amenity and employment fundamentals nearby. Property-level security measures and resident engagement can help support retention and stabilize operating performance.
Proximity to major employers underpins a steady renter pipeline, particularly among tech and corporate professionals. Nearby anchors include Adobe, eBay, PayPal, Sanmina, and Nvidia, supporting commute convenience and leasing resilience.
- Adobe Systems — software (0.59 miles)
- Ebay — e-commerce (2.48 miles) — HQ
- Paypal Holdings — fintech (3.82 miles) — HQ
- Sanmina — electronics manufacturing (4.85 miles) — HQ
- Nvidia — semiconductors (4.92 miles) — HQ
This 110-unit asset at 598 Columbia Ave benefits from an A+ neighborhood profile with top-tier amenities and a high renter concentration, supporting durable demand and leasing depth. The 1999 construction is newer than the local average, providing competitive differentiation and potential to capture rent premiums with targeted upgrades rather than heavy repositioning. Elevated home values in the area reinforce renter reliance on multifamily housing, while strong incomes help sustain collections and reduce turnover risk.
Based on CRE market data from WDSuite, neighborhood occupancy trends are softer than metro leaders, warranting disciplined lease management and attention to retention. Offsetting factors include a robust nearby employment base and, within a 3-mile radius, growth in households alongside smaller average household sizes—both of which typically support renter pool expansion and long-term demand.
- A+ neighborhood with top-quartile amenities driving leasing appeal
- 1999 vintage offers competitive positioning with manageable modernization scope
- Elevated home values and high renter concentration support pricing power
- Diverse tech employment nearby underpins a steady, high-earning tenant base
- Risk: neighborhood occupancy softness—requires focused retention and revenue management