| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 89th | Best |
| Demographics | 80th | Best |
| Amenities | 70th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1055 E Evelyn Ave, Sunnyvale, CA, 94086, US |
| Region / Metro | Sunnyvale |
| Year of Construction | 1977 |
| Units | 92 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1055 E Evelyn Ave Sunnyvale Multifamily Investment
Neighborhood occupancy sits around the mid‑90s with a majority of units renter‑occupied, pointing to steady tenant demand according to WDSuite’s CRE market data. This positioning favors durable leasing in a high-cost ownership market.
The property is in Sunnyvale’s Urban Core, rated A and competitive among San Jose–Sunnyvale–Santa Clara neighborhoods (38th of 344), where renter demand is supported by strong incomes and deep services. Restaurants and groceries index in the top quartile nationally, providing daily‑needs convenience that helps sustain leasing and renewal activity.
At the neighborhood level, occupancy averages roughly the mid‑90% range, and net operating income per unit trends in the top decile nationally, based on CRE market data from WDSuite. The local housing stock skews newer than this asset (average 1994), which can make a 1977 vintage a viable value‑add candidate to improve competitive positioning through selective upgrades and systems modernization.
Within a 3‑mile radius, population has grown in recent years and households have increased, with projections indicating further household expansion and a modest shift toward smaller household sizes by 2028. This trajectory points to a larger tenant base and supports occupancy stability for multifamily assets.
Home values are elevated and the value‑to‑income ratio is high versus national benchmarks, reinforcing reliance on rental housing. At the same time, neighborhood rent‑to‑income sits near the lower half of national readings, a combination that can support retention and prudent pricing power while managing affordability pressure.
Safety indicators for the neighborhood sit below national percentiles overall, indicating higher reported incident rates than many U.S. neighborhoods. However, year‑over‑year trends show double‑digit declines in both violent and property offenses, suggesting recent improvement rather than deterioration.
Within the San Jose–Sunnyvale–Santa Clara metro, the neighborhood’s crime ranking is near the metro median among 344 neighborhoods, which places it competitive with several urban peers but not among the top‑tier for safety. Investors typically address this profile through property‑level measures (lighting, access control) and by emphasizing amenity and management practices that support resident retention.
Proximity to major technology employers underpins a deep white‑collar renter base and short commute times, supporting leasing velocity and retention. Key nearby anchors include Applied Materials, Intel, Amazon, Nvidia, and Apple.
- Applied Materials — semiconductor equipment (1.5 miles) — HQ
- Intel — semiconductors (1.6 miles)
- Amazon — corporate offices (1.8 miles)
- Nvidia — semiconductors (2.1 miles) — HQ
- Apple — technology (2.9 miles) — HQ
1055 E Evelyn Ave offers 92 units in a high‑income, renter‑oriented pocket of Sunnyvale with neighborhood occupancy around the mid‑90% range and NOI per unit trending near the top decile nationally. According to CRE market data from WDSuite, elevated ownership costs in the area reinforce reliance on rental housing, while a growing 3‑mile household base and proximity to marquee tech employers support a durable tenant pipeline.
Built in 1977, the asset is older than the neighborhood’s average vintage, creating a clear path for value‑add through interior modernization and targeted CapEx to stay competitive with newer stock. Balanced against strong income fundamentals, investors should underwrite for ongoing capital planning and leasing strategies that manage affordability pressure while sustaining occupancy.
- Renter‑oriented neighborhood with occupancy around the mid‑90% range supports leasing stability.
- Top‑tier neighborhood income fundamentals and elevated ownership costs bolster multifamily demand.
- Value‑add potential: 1977 vintage relative to newer local stock enables upgrades and repositioning.
- Risks: older systems/capex needs and safety metrics below national percentiles; mitigate via renovations, access control, and disciplined leasing.