| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 77th | Fair |
| Demographics | 61st | Fair |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7213 Rainbow Dr, San Jose, CA, 95129, US |
| Region / Metro | San Jose |
| Year of Construction | 1976 |
| Units | 75 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7213 Rainbow Dr, San Jose Multifamily Investment
Proximity to major Silicon Valley employers and a high-cost ownership market support durable renter demand and pricing power, according to WDSuite’s CRE market data. Neighborhood occupancy and rent levels indicate stable leasing fundamentals relative to broader metro conditions.
Situated in San Jose’s Urban Core, the property benefits from strong daily-needs access and dining density. Grocery availability is competitive among 344 San Jose–Sunnyvale–Santa Clara neighborhoods and sits in the top quartile nationally, while restaurants are similarly competitive locally and rank near the top nationally. By contrast, cafe and pharmacy density is limited, indicating amenities skew more toward essential retail and dining than third places.
Neighborhood occupancy is around the national midrange and has softened versus five years ago; this is a neighborhood metric, not the property’s performance. Even so, the share of renter-occupied housing units is competitive among 344 metro neighborhoods and in the upper tiers nationally, indicating a deep tenant base that supports multifamily demand and leasing durability.
Within a 3-mile radius, demographics reflect a high-income renter pool and robust consumer spending capacity, with median contract rents elevated relative to many U.S. submarkets. Elevated home values in the immediate area point to a high-cost ownership market, which tends to reinforce reliance on rental housing and support retention for well-located assets.
Looking forward, 3-mile household counts are projected to increase while average household size trends modestly lower. That combination typically expands the renter pool and supports occupancy stability and absorption for professionally managed properties, especially near major employment nodes.
Safety indicators for the neighborhood are generally around the national middle to slightly better, with property and violent offense measures near or modestly above national medians when compared with neighborhoods nationwide. Year over year, both property and violent offense estimates have trended lower, suggesting improving conditions rather than deterioration.
Relative to the San Jose–Sunnyvale–Santa Clara metro’s 344 neighborhoods, the area compares competitively on several safety dimensions and aligns with investor expectations for West San Jose locations. As always, block-level conditions vary; institutional owners in similar settings typically address standard security, lighting, and access controls in operating plans.
The location draws on a concentrated tech employment base that supports renter demand and short commutes, led by Apple, Netflix, and eBay within a 6-mile radius.
- Apple — corporate offices (2.1 miles) — HQ
- Apple - Stevens Creek 8 — corporate offices (2.2 miles)
- Apple - Tantau 14 — corporate offices (2.5 miles)
- Netflix — entertainment streaming (4.7 miles) — HQ
- Ebay — e-commerce (5.8 miles) — HQ
This 75-unit asset in West San Jose offers exposure to a deep, high-income renter base and a high-cost ownership landscape that supports leasing stability. According to CRE market data from WDSuite, the neighborhood’s renter-occupied share is competitive among San Jose–Sunnyvale–Santa Clara neighborhoods and ranks in the upper tiers nationally, while occupancy trends sit near the national midrange. Combined with proximity to major employers, the location supports steady absorption and rent performance for well-managed units.
Within a 3-mile radius, households are projected to increase and average household size to edge lower, expanding the potential renter pool over the medium term. Elevated home values and strong incomes further support lease retention and pricing power for quality, professionally operated multifamily.
- Proximity to Apple, Netflix, and eBay underpins steady tenant demand and leasing velocity.
- Competitive renter concentration in the neighborhood signals depth of the tenant base.
- High-cost ownership market reinforces renter reliance and supports rent growth management.
- 3-mile household growth and smaller household sizes expand the renter pool and support occupancy stability.
- Risk: neighborhood occupancy trends are nearer the national midrange and have softened; underwriting should account for leasing cadence and asset positioning.