| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Fair |
| Demographics | 53rd | Poor |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 975 Boynton Ave, San Jose, CA, 95117, US |
| Region / Metro | San Jose |
| Year of Construction | 1974 |
| Units | 48 |
| Transaction Date | 2015-06-18 |
| Transaction Price | $11,835,000 |
| Buyer | RUTHERFORD BOYNTON DST |
| Seller | MDJ REAL ESTATE 1 LLC |
975 Boynton Ave San Jose Multifamily Investment
This 48-unit property built in 1974 sits in a neighborhood where 64% of housing units are renter-occupied, supporting rental demand in a market with median rents reaching $2,197 according to CRE market data from WDSuite.
This San Jose neighborhood demonstrates strong rental fundamentals, with 64% of housing units occupied by renters—ranking in the top quartile nationally among rental-dense markets. The median contract rent of $2,197 reflects 22% growth over five years, while the area maintains competitive positioning among the metro's 344 neighborhoods with a B- rating.
Built in 1974, the property aligns with the neighborhood's average construction year of 1973, presenting potential value-add opportunities through strategic renovations and unit improvements. Demographics within a 3-mile radius show household growth of 2.5% over five years, with median household income of $151,203 supporting rental demand at current pricing levels.
The neighborhood's occupancy rate of 87.2% indicates stable absorption, though investors should monitor the 5.5 percentage point decline over recent years. With median home values at $1.53 million creating elevated ownership costs, rental housing remains the primary option for many area households, reinforcing multifamily demand fundamentals.
Amenity access includes 7.2 restaurants per square mile and moderate childcare density, supporting tenant retention. However, the area lacks parks and pharmacies within walking distance, which may influence competitive positioning relative to other neighborhood options.
Property crime rates in this neighborhood show a declining trend, with a 24% decrease over the past year positioning the area favorably relative to regional patterns. The neighborhood ranks in the middle tier among San Jose metro's 344 neighborhoods for overall crime metrics.
Violent crime rates have declined significantly by 40% year-over-year, though property crime levels remain elevated compared to national averages. Investors should consider these trends when evaluating tenant retention and lease renewal strategies, as safety perceptions can influence market positioning.
Major technology employers within commuting distance provide workforce housing demand, with Apple, eBay, and Netflix operations supporting the local rental market.
- Apple Stevens Creek 8 — technology offices (2.3 miles)
- eBay — e-commerce technology (2.4 miles) — HQ
- Apple Tantau 14 — technology offices (2.6 miles)
- Netflix — streaming technology (3.4 miles) — HQ
- Apple — technology headquarters (3.8 miles) — HQ
This 48-unit property offers exposure to San Jose's rental market fundamentals, with 64% renter occupancy in the neighborhood supporting demand stability. The 1974 construction year presents value-add potential through unit renovations and property improvements, while proximity to major technology employers provides workforce housing appeal.
Demographic trends within a 3-mile radius show household growth and median incomes of $151,203, creating a tenant base capable of supporting current rent levels. However, the neighborhood's 87% occupancy rate has declined over recent years, requiring careful lease management and competitive positioning strategies.
- Strong rental demand with 64% of neighborhood units renter-occupied
- Value-add opportunities through 1974 vintage property improvements
- Proximity to major technology employers supporting workforce housing demand
- Declining occupancy trends require active lease management and market positioning