| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 68th | Fair |
| Amenities | 41st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 965 Lundy Ave, San Jose, CA, 95133, US |
| Region / Metro | San Jose |
| Year of Construction | 1999 |
| Units | 25 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
965 Lundy Ave San Jose Multifamily Investment Thesis
Neighborhood occupancy and incomes point to durable renter demand, according to WDSuite s CRE market data, with elevated ownership costs locally reinforcing reliance on multifamily rentals. Focus is on steady leasing fundamentals rather than outsized growth expectations.
Located in San Jose s inner suburb of Berryessa/Lundy, the neighborhood scores a B- on WDSuite s rating framework (ranked 190 out of 344 metro neighborhoods), suggesting balanced fundamentals that investors often prioritize for operational stability. Neighborhood occupancy is reported at the neighborhood level rather than the property, and recent readings indicate generally stable performance relative to national averages, though not a top performer within the metro.
Parks density ranks 30 out of 344 in the San Jose Sunnyvale Santa Clara metro and sits in the 98th percentile nationally, placing local open-space access in the top quartile nationally a useful amenity for retention and leasing. Restaurants and groceries track closer to metro medians, providing day-to-day convenience without relying on destination retail to drive traffic.
Housing stock here skews slightly newer than the metro average: the average neighborhood construction year is 1994, while the subject asset was built in 1999. Newer-than-average vintage can improve competitive positioning versus older inventory, though after 25+ years, investors should still underwrite modernization of systems and resident-facing finishes as part of a value-add or capital planning strategy.
Educational attainment is a strength: the neighborhood s share of residents with a bachelor s degree ranks 31 out of 344 locally and is in the 96th percentile nationally, which supports an income profile conducive to market-rate rents. Home values are elevated (99th percentile nationally), signaling a high-cost ownership market that tends to sustain multifamily demand and support lease retention.
Tenure dynamics vary by lens. Within the immediate neighborhood, the share of housing units that are renter-occupied is modest (occupancy_rental_share indicates a smaller renter concentration), which may temper near-block depth. However, demographics aggregated within a 3-mile radius show a larger base of renter-occupied housing overall and continued household growth alongside declining household sizes, expanding the nearby tenant pool and supporting occupancy stability for well-positioned assets.
Safety indicators in this neighborhood trail national norms at present, with both violent and property offense rates sitting below national percentiles that typically indicate strong safety performance. However, WDSuite s most recent trend data shows year-over-year improvement, with double-digit declines in estimated rates for both violent and property offenses. Among the 344 neighborhoods in the San Jose metro, the area does not rank among the strongest for safety today, but the improving trajectory is a constructive sign for risk management and leasing stability.
The location is proximate to a diversified employment base that supports renter demand and commute convenience, led by technology, payments, electronics manufacturing, and software. The employers below reflect the nearest anchors likely to influence leasing and retention.
- Paypal Holdings payments & fintech (2.7 miles) HQ
- Qualcomm semiconductors (2.8 miles)
- Adobe Systems software (3.0 miles)
- Avnet electronics distribution (3.1 miles)
- Bristol-Myers Squibb, BDC biopharma offices (3.2 miles)
- Sanmina electronics manufacturing services (3.3 miles) HQ
This 25-unit asset built in 1999 offers a slightly newer-than-neighborhood-average vintage in a high-cost ownership market, which helps sustain multifamily demand and supports lease retention. Based on CRE market data from WDSuite, the neighborhood posts solid occupancy at the neighborhood level (measured for the neighborhood, not the property) and benefits from strong educational attainment and proximity to major employers, supporting a stable tenant base.
Demographics aggregated within a 3-mile radius point to rising household counts and smaller household sizes over time, which can translate into a larger renter pool and steady leasing for well-managed properties. Investors should underwrite capital plans consistent with a late-1990s vintage and monitor local safety trends and the immediate neighborhood s lower renter concentration, balancing these against strong incomes and employment access.
- High-cost ownership market supports sustained rental demand and lease retention
- Slightly newer 1999 vintage offers competitive positioning with value-add modernization potential
- Proximity to diversified employers underpins tenant base depth and stability
- Neighborhood-level occupancy is stable per WDSuite, supporting income consistency
- Risks: safety metrics trail national norms and immediate renter concentration is modest; prudent underwriting and asset-specific operations are key