| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Good |
| Demographics | 68th | Fair |
| Amenities | 41st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 967 Lundy Ave, San Jose, CA, 95133, US |
| Region / Metro | San Jose |
| Year of Construction | 1995 |
| Units | 24 |
| Transaction Date | 1994-09-14 |
| Transaction Price | $356,000 |
| Buyer | CDLA INC |
| Seller | HOUSING FOR INDEPENDENT PEOPLE INC |
967 Lundy Ave, San Jose Multifamily Investment
Neighborhood occupancy has remained relatively high and home values are elevated, supporting durable renter demand near North San Jose, according to WDSuite’s CRE market data.
Situated in an Inner Suburb of the San Jose–Sunnyvale–Santa Clara metro, the neighborhood posts a B- rating and has sustained solid multifamily fundamentals. Neighborhood occupancy is in the upper tier locally, and NOI per unit performance ranks in the top quartile among 344 metro neighborhoods, signaling competitive rent levels and operating strength compared with much of the metro.
Livability is shaped by strong park access (top-tier nationally) and a solid mix of groceries and restaurants, while café density and pharmacies are limited in the immediate area. These dynamics point to day-to-day convenience without the saturation found in denser urban cores.
Ownership costs are among the highest nationally, and median household incomes are also elevated. In this context, higher home values tend to sustain reliance on multifamily housing, supporting pricing power and lease retention for well-positioned assets. Rent-to-income levels in the neighborhood are better than many high-cost markets, which can help reduce affordability pressure and support renewal rates.
Within a 3-mile radius, demographic data show modest population softening over the past five years alongside an increase in households and smaller average household sizes. This mix typically expands the renter pool and can aid occupancy stability, particularly for professionally managed communities targeting working households.
Relative to the San Jose–Sunnyvale–Santa Clara metro, this neighborhood’s crime rank sits below the metro median (191 out of 344), indicating safety conditions that trail many local peers. Compared with neighborhoods nationwide, overall safety scores align closer to the middle-to-lower tier.
Recent trends show improvement: both property and violent offense rates have declined year over year, suggesting conditions are moving in a favorable direction. Investors should still underwrite prudent security measures and management practices, while noting the downward trajectory in reported incidents.
Proximity to major tech and corporate employers underpins a deep white-collar renter base and supports lease retention through commute convenience. Nearby anchors include PayPal, Qualcomm, Adobe, Avnet, and Sanmina.
- PayPal Holdings — fintech HQ (2.7 miles) — HQ
- Qualcomm — semiconductors & wireless (2.8 miles)
- Adobe Systems — software (3.0 miles)
- Avnet — electronics distribution (3.1 miles)
- Sanmina — electronics manufacturing (3.3 miles) — HQ
967 Lundy Ave is a 24‑unit, 1995-vintage asset positioned in a neighborhood that demonstrates competitive operating performance versus the metro. Elevated home values and strong household incomes reinforce sustained renter reliance on multifamily housing, while neighborhood occupancy remains healthy. According to CRE market data from WDSuite, the submarket’s NOI per unit is competitive among San Jose neighborhoods, supporting a thesis centered on durable cash flow.
The 1995 construction vintage offers a practical value‑add path through interior modernization and systems updates to improve renter appeal relative to older stock nearby. Within a 3‑mile radius, households have increased as average household size has declined, pointing to a broader tenant base even as population growth moderates—favorable for maintaining leasing velocity. Key risks include safety metrics that lag metro averages and limited café/pharmacy density, both of which can be mitigated through targeted property improvements and service-driven management.
- Healthy neighborhood occupancy and competitive NOI support income durability
- Elevated ownership costs sustain renter demand and pricing power
- 1995 vintage with value‑add potential via renovations and modernization
- 3‑mile household growth and smaller household sizes expand the tenant base
- Risk: safety metrics below metro average; consider security and active management