| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 77th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 893 Lenzen Ave, San Jose, CA, 95126, US |
| Region / Metro | San Jose |
| Year of Construction | 1983 |
| Units | 94 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
893 Lenzen Ave, San Jose Multifamily Investment
Urban-core location with a deep renter base and elevated home values supports durable tenant demand, according to WDSuite’s CRE market data for the neighborhood rather than the property itself.
Located in San Jose’s Urban Core, the neighborhood ranks in the top quartile among 344 metro neighborhoods, signaling solid fundamentals for multifamily. Amenity access is a strength: restaurants and cafes sit in high national percentiles, and park access is also strong. One notable gap is limited nearby pharmacies, which investors may consider for resident convenience strategies.
Neighborhood rents have grown meaningfully over the past five years, and home values are among the highest nationally. In a high-cost ownership market, this typically sustains reliance on rental housing, aiding lease retention and pricing discipline. The share of renter‑occupied housing units is high for the metro, indicating a deeper tenant pool for a 94‑unit asset.
Occupancy for the neighborhood has hovered in the low‑90% range in recent years, supporting baseline stability while leaving room for asset‑level execution to outperform. Average vintage in the area skews older than 1980, which can position a 1983 asset as relatively competitive versus much of the nearby stock while still warranting targeted modernization for systems and common areas.
Within a 3‑mile radius, demographics indicate strong incomes and an expanding household count over the next five years, alongside smaller average household sizes. These trends typically translate into a larger renter base and support for steady lease‑up and renewal activity relative to broader metro and national commercial real estate analysis benchmarks.
Neighborhood safety trends are mixed but improving. Compared with neighborhoods nationwide, overall conditions sit around the middle of the pack, with property and violent offense metrics below national averages for safety; however, both categories have shown notable year‑over‑year declines, indicating positive momentum.
Within the San Jose–Sunnyvale–Santa Clara metro (344 neighborhoods), the area’s crime profile is not among the top performers, but recent reductions suggest risk is trending lower. Investors should underwrite routine safety measures and resident communication while recognizing the favorable direction of change.
Proximity to major tech employers supports workforce housing demand and commute convenience for residents, including offices for Adobe, eBay, PayPal, Verizon, and Nvidia.
- Adobe Systems — software (1.1 miles)
- Ebay — e‑commerce (2.9 miles) — HQ
- Paypal Holdings — fintech (2.9 miles) — HQ
- Verizon — telecom (3.6 miles)
- Nvidia — semiconductors (3.9 miles) — HQ
Built in 1983, the property is newer than much of the surrounding stock and can compete well with older assets nearby while benefiting from targeted updates to interiors, building systems, and common areas. Elevated neighborhood home values and a high concentration of renter‑occupied units point to a deep tenant base and steady renewal prospects. Neighborhood occupancy has remained in the low‑90% range, providing a foundation for income stability with operational upside.
According to CRE market data from WDSuite, the neighborhood scores in the top quartile locally with strong amenity access and proximity to major employers, while household growth within a 3‑mile radius and smaller average household sizes suggest continued renter pool expansion. Underwriting should account for mixed safety benchmarks and convenience gaps (e.g., pharmacies), but long‑term fundamentals remain constructive for cash‑flow durability.
- Newer‑than‑area vintage (1983) offers competitive positioning with value‑add potential
- Deep renter base and high ownership costs support sustained rental demand
- Employer proximity underpins leasing velocity and retention
- Neighborhood occupancy in the low‑90% range supports baseline stability
- Risks: safety metrics below national averages and limited pharmacy access warrant prudent operations