| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 88th | Best |
| Demographics | 91st | Best |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 850 Meridian Way, San Jose, CA, 95126, US |
| Region / Metro | San Jose |
| Year of Construction | 1978 |
| Units | 112 |
| Transaction Date | 2016-09-28 |
| Transaction Price | $42,500,000 |
| Buyer | Pacific Urban Residential |
| Seller | Sares-Regis |
850 Meridian Way San Jose Multifamily Investment
Renter demand is reinforced by a high neighborhood share of renter-occupied units and steady occupancy, according to WDSuite’s CRE market data. Positioned in San Jose’s urban core, the asset benefits from strong household incomes that support lease stability.
The property sits in an Urban Core area rated A and ranks 31 out of 344 metro neighborhoods — a top quartile position that signals durable fundamentals for multifamily investors. Neighborhood occupancy is healthy and supported by a high renter-occupied housing share, indicating depth in the tenant base and potential stability through cycles, per WDSuite’s commercial real estate analysis.
Local convenience skew favors daily-needs access: grocery and pharmacy density both score high versus metro peers, while restaurants are strong (competitive rank among 344), though cafes and parks are limited within the immediate neighborhood. For investors, this mix typically supports retention through everyday convenience, with fewer discretionary amenity draws inside the neighborhood but ample dining choice nearby.
Home values in the neighborhood are elevated by national standards. In high-cost ownership markets like San Jose, this dynamic tends to reinforce reliance on multifamily housing and can support pricing power and lease-up consistency when managed carefully. Median household incomes are also high relative to national benchmarks, which can underpin rent collections and lower turnover risk.
Vintage matters: with a 1978 construction year against a neighborhood average build year in the 1990s, investors should plan for ongoing capital improvements but can also evaluate value-add or modernization programs to enhance competitive positioning. NOI per unit ranks in the top quartile of metro neighborhoods, suggesting performance potential where operations and renovations are executed thoughtfully.
Demographics aggregated within a 3-mile radius show recent softness in population but growth in households and a projected increase in both population and household counts over the next five years. Smaller average household sizes and expanding household totals point to a larger renter pool over time, which can support occupancy stability and leasing velocity for well-positioned assets.
Safety indicators present a mixed picture. Overall crime sits around the national midpoint (near the 51st percentile), while estimates for violent and property incidents track below national percentiles. Importantly, year-over-year trends indicate significant declines in both categories, placing the neighborhood among the stronger improvers nationally. For investors, this trajectory suggests monitoring is warranted, but recent momentum is favorable compared with many urban peers.
Proximity to major tech employers supports a deep, higher-income renter base and commute convenience for residents. Nearby anchors include eBay, Adobe, PayPal, Netflix, and Nvidia — a concentration that can bolster leasing and retention.
- eBay — corporate offices (1.4 miles) — HQ
- Adobe Systems — corporate offices (1.7 miles)
- PayPal Holdings — corporate offices (4.4 miles) — HQ
- Netflix — corporate offices (4.6 miles) — HQ
- Nvidia — corporate offices (5.0 miles) — HQ
850 Meridian Way combines a high-renter neighborhood profile with strong incomes and proximity to blue-chip employers, helping sustain a broad tenant base and support occupancy. The 1978 vintage is older than the neighborhood average, creating opportunities for value-add upgrades and operational improvements that can sharpen competitive positioning against 1990s-and-newer stock. According to CRE market data from WDSuite, neighborhood NOI per unit trends in the top quartile locally, and elevated ownership costs in the area tend to sustain renter reliance on multifamily housing.
Looking ahead, household growth within a 3-mile radius and smaller average household sizes point to renter pool expansion, while strong daily-needs access (grocery, pharmacy) and abundant dining reinforce livability. Execution focus should include targeted renovations, amenity and system modernization, and disciplined lease management to translate neighborhood strengths into durable property-level performance.
- High renter-occupied concentration and solid neighborhood occupancy support demand depth
- 1978 vintage offers value-add and modernization potential versus newer competitive stock
- Strong income base and elevated ownership costs bolster multifamily leasing and retention
- Proximity to major tech employers supports leasing velocity and renewal capture
- Risks: older systems and mixed safety signals require capex planning and ongoing monitoring