| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 86th | Best |
| Demographics | 48th | Poor |
| Amenities | 60th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 678 N King Rd, San Jose, CA, 95133, US |
| Region / Metro | San Jose |
| Year of Construction | 2012 |
| Units | 94 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
678 N King Rd San Jose Multifamily Investment Opportunity
High renter concentration and a high-cost ownership market underpin durable apartment demand in this San Jose neighborhood, according to WDSuite’s CRE market data.
Situated in San Jose’s Urban Core, the neighborhood shows solid multifamily fundamentals with occupancy measured at the neighborhood level tracking above many U.S. areas and within a competitive band for the San Jose–Sunnyvale–Santa Clara metro. Renter-occupied share is elevated relative to national norms, signaling a deep tenant base that supports leasing stability and renewal potential.
Daily convenience is a strength: grocery and dining density ranks in the top decile nationally, with cafes also scoring competitively. These amenity clusters typically enhance resident retention and reduce leasing friction, though limited park and pharmacy presence nearby suggests residents rely more on private/community amenities and short drives for certain services.
Home values in the neighborhood rank near the top nationally, and the value-to-income ratio is among the highest nationwide. In investor terms, this is a high-cost ownership market that tends to sustain rental demand and provide support for pricing power, while requiring careful lease management to monitor affordability pressure. Neighborhood NOI per unit performance is strong (top-quartile nationally), aligning with healthy rent levels and relatively steady occupancy.
Within a 3-mile radius, household counts have inched up and are projected to grow further even as average household size trends smaller over the next five years. This shift typically expands the renter pool and can support occupancy stability and absorption for well-located assets. School quality sits around the national middle, so family-driven demand may be more price- and commute-sensitive than school-driven.
Neighborhood safety indicators are below the national median, with both violent and property offense rates comparing unfavorably to many U.S. neighborhoods. That said, recent year-over-year trends point to measurable improvement, with estimated rates declining across key categories. For investors, this mix suggests underwriting with prudent security/operational allowances while recognizing improving momentum rather than assuming static conditions.
At the metro scale (344 neighborhoods), conditions align closer to the middle of the pack than to the top tier. Comparatively, leasing can remain resilient when paired with commute convenience and amenity access, but operators should maintain visible safety measures and community engagement to support resident retention.
Proximity to major technology and corporate offices helps support a steady renter pipeline and shorter commutes for residents. The nearby employment base includes Adobe, PayPal, Qualcomm, Sanmina, and Nvidia.
- Adobe Systems — software (2.79 miles)
- Paypal Holdings — digital payments (3.11 miles) — HQ
- Qualcomm — wireless & semiconductors (3.29 miles)
- Sanmina — electronics manufacturing (3.78 miles) — HQ
- Nvidia — semiconductors & AI (5.42 miles) — HQ
678 N King Rd offers investors exposure to a high-cost ownership market where renter reliance on multifamily housing is durable. Neighborhood occupancy sits in a healthy range and renter concentration is high, while amenity density (notably grocery, dining, and cafes) supports resident satisfaction and retention. Built in 2012—newer than the neighborhood’s average vintage—the property should remain competitive versus older stock, with capital plans focused more on modernization and targeted refreshes than heavy systems replacement.
Within a 3-mile radius, households are projected to expand as average household size declines, typically enlarging the renter pool even with modest population contraction. Combined with proximity to major tech employers, this points to sustained tenant demand. According to commercial real estate analysis from WDSuite, neighborhood NOI per unit trends are strong relative to national benchmarks, while elevated home values in Santa Clara County reinforce the case for rental housing demand; operators should still monitor affordability pressure and safety perception in underwriting and leasing strategy.
- High renter concentration and healthy neighborhood occupancy support leasing stability
- 2012 vintage offers competitive positioning versus older local stock with selective value-add potential
- Strong amenity density and proximity to major tech employers sustain tenant demand
- High-cost ownership market reinforces rental demand and pricing power with attentive lease management
- Risks: below-national-median safety indicators, limited nearby parks/pharmacies, and affordability pressure