| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 89th | Best |
| Demographics | 80th | Best |
| Amenities | 70th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1141 Miramar Way, Sunnyvale, CA, 94086, US |
| Region / Metro | Sunnyvale |
| Year of Construction | 1978 |
| Units | 74 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1141 Miramar Way, Sunnyvale Multifamily Investment
Neighborhood occupancy trends remain resilient and renter demand is supported by strong incomes and employment depth, according to WDSuite’s CRE market data. This asset’s location favors retention and pricing discipline, with elevated ownership costs reinforcing reliance on multifamily housing.
Location fundamentals: The property sits in Sunnyvale’s Urban Core and is ranked in the top quartile among 344 metro neighborhoods (Neighborhood Rating: A), indicating competitive livability and investment appeal relative to San Jose–Sunnyvale–Santa Clara. Neighborhood occupancy is in the mid‑90% range, supporting stable leasing dynamics at the submarket level.
Amenities and daily needs: Dining and grocery access are strong by national standards (restaurants and groceries near the 90th percentile nationally), with café density also above average. Park access trends above national norms, while pharmacy options are comparatively limited. For investors, this mix points to high day‑to‑day convenience that can bolster renewal propensity even as residents rely on nearby employment hubs.
Tenure and renter base: The neighborhood’s renter concentration is around 60% of housing units being renter‑occupied, indicating a deep tenant pool and steady multifamily demand. Elevated home values relative to income levels sustain reliance on rentals, which can support occupancy stability and consistent absorption for well‑positioned assets.
3‑mile demographics and trajectory: Within a 3‑mile radius, recent population growth and an increase in households point to a larger tenant base. Forecasts call for further household gains alongside smaller average household sizes, which typically supports demand for professionally managed apartments. Income growth in the radius has been strong, and neighborhood median rents are high by national standards; together, this suggests room for disciplined rent management without overextending affordability.
Neighborhood safety indicators are roughly around the metro median (ranked near the midpoint among 344 San Jose–Sunnyvale–Santa Clara neighborhoods). Compared with neighborhoods nationwide, safety outcomes trend below average; however, both violent and property offense rates have improved year over year, indicating recent positive momentum.
Investors should underwrite routine security and lighting upgrades typical for urban core assets and monitor continued trend improvement. Framing risk at the neighborhood level—rather than block by block—helps calibrate expectations without overstating precision.
Proximity to major technology and advanced manufacturing employers underpins workforce housing demand and commute convenience. The nearby base is diversified within tech and related services, including Applied Materials, Intel, Nvidia, Amazon, and Apple.
- Applied Materials — semiconductors (1.8 miles) — HQ
- Intel — semiconductors (1.9 miles)
- Nvidia — semiconductors (2.1 miles) — HQ
- Amazon — technology offices (2.2 miles)
- Apple — technology HQ/offices (2.5 miles) — HQ
Built in 1978, the asset is older than the neighborhood’s average vintage, creating clear value‑add and capital planning angles—unit renovations and system upgrades can sharpen competitiveness against newer stock while leveraging strong neighborhood fundamentals. According to CRE market data from WDSuite, neighborhood occupancy remains healthy and the renter base is deep, supported by high household incomes and elevated ownership costs that sustain reliance on multifamily housing.
The 3‑mile radius shows recent population growth and a meaningful increase in households, with forecasts indicating further household expansion and smaller household sizes—trends that typically support renter pool expansion and lease‑up stability. Proximity to major employers (semiconductors and big‑tech offices) provides consistent demand drivers and supports retention across cycles, while disciplined underwriting should account for vintage‑related capex and neighborhood‑level safety readings that sit below national averages but are improving.
- Employer adjacency: short commutes to Applied Materials, Intel, Nvidia, Amazon, and Apple help sustain demand and renewals.
- Strong renter depth: renter‑occupied share around 60% supports stable absorption and occupancy.
- Value‑add path: 1978 vintage offers renovation and systems‑upgrade opportunities to compete with newer stock.
- Pricing power context: elevated home values and high incomes reinforce multifamily reliance and renewal potential.
- Risks to monitor: vintage‑related capex and neighborhood safety metrics that trail national averages, offset by recent improvement trends.