| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 72nd | Good |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 880 Saint Elizabeth Dr, San Jose, CA, 95126, US |
| Region / Metro | San Jose |
| Year of Construction | 1984 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
880 Saint Elizabeth Dr San Jose Multifamily Investment
This 40-unit property built in 1984 benefits from strong neighborhood-level occupancy at 94.2% and renter-dominated housing tenure at 72.5%, supporting stable rental demand in San Jose's competitive market.
Located in San Jose's Urban Core, this neighborhood ranks 58th among 344 metro neighborhoods with an A- rating, positioning it in the top quartile for overall investment fundamentals. The area maintains strong occupancy at 94.2% with a heavily rental-oriented housing stock where 72.5% of units are renter-occupied, ranking 16th metro-wide and placing it in the 98th percentile nationally for rental market depth.
Demographics within a 3-mile radius show household income strength with a median of $138,024 and mean of $185,812, while forecasts through 2028 project 34.7% growth in total households and median household income rising to $174,852. This expanding renter pool supports multifamily demand, particularly as median home values of $973,664 reinforce rental demand by keeping ownership costs elevated relative to rental alternatives.
The property's 1984 construction year aligns with the neighborhood average of 1981, suggesting consistent building stock that may present value-add renovation opportunities for investors seeking to differentiate units. Amenity density supports tenant retention with 5.31 grocery stores per square mile (96th percentile nationally) and strong childcare access at 2.66 facilities per square mile (95th percentile), though pharmacy access remains limited within the immediate area.
Current median contract rents of $2,401 rank 225th metro-wide but place in the 96th percentile nationally, reflecting San Jose's premium rental market positioning. The rent-to-income ratio of 0.29 suggests affordability pressure that requires careful lease management and retention strategies, while the neighborhood's NOI per unit average of $11,175 ranks in the 85th percentile nationally, indicating solid income-generating potential.
Safety metrics show mixed trends that warrant monitoring. Property offense rates of 1,074 per 100,000 residents rank 196th among 344 metro neighborhoods, placing the area in the 21st percentile nationally. However, recent trends are encouraging with property crimes declining 59.1% year-over-year, ranking 26th metro-wide and reaching the 92nd percentile nationally for improvement.
Violent crime rates of 184 per 100,000 residents rank 243rd metro-wide and fall in the 21st percentile nationally, but show significant improvement with a 54.7% year-over-year decline. This improvement trend ranks 70th among metro neighborhoods and places in the 87th percentile nationally, suggesting ongoing neighborhood stabilization that could support tenant retention and property values over time.
The property benefits from proximity to major technology employers that drive Silicon Valley's workforce housing demand, with several Fortune 500 headquarters within a 5-mile radius supporting stable tenant base and commute convenience.
- Ebay — technology services (1.1 miles) — HQ
- Adobe Systems — software development (2.0 miles)
- Netflix — streaming technology (4.3 miles) — HQ
- Paypal Holdings — financial technology (4.7 miles) — HQ
- Nvidia — semiconductor technology (5.2 miles) — HQ
This 40-unit property built in 1984 presents a value-add opportunity in San Jose's strong rental market, supported by neighborhood-level occupancy of 94.2% and a tenant base reinforced by proximity to major technology employers. According to CRE market data from WDSuite, the area ranks in the top quartile among 344 metro neighborhoods with 72.5% of housing units renter-occupied, creating depth in the rental market that supports stable demand.
Demographics within a 3-mile radius show household growth projected at 34.7% through 2028, expanding the renter pool while median household income is forecast to rise to $174,852. The property's 1984 vintage aligns with neighborhood averages, presenting renovation upside potential to capture premium rents in a market where median contract rents of $2,401 rank in the 96th percentile nationally.
- Strong occupancy fundamentals with 94.2% neighborhood-level occupancy and 72.5% renter-occupied housing stock
- Technology employment corridor with eBay, Adobe, Netflix, and PayPal headquarters within 5 miles
- Household growth projected at 34.7% through 2028 supporting expanded renter demand
- Value-add potential from 1984 construction year and average 980 sq ft unit size
- Risk consideration: Rent-to-income ratio of 0.29 requires active lease management and retention strategies