| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Poor |
| Demographics | 39th | Poor |
| Amenities | 65th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 9389 Monterey Rd, Gilroy, CA, 95020, US |
| Region / Metro | Gilroy |
| Year of Construction | 2013 |
| Units | 26 |
| Transaction Date | 2012-05-15 |
| Transaction Price | $2,116,750 |
| Buyer | GILROY SOBRATO LLC |
| Seller | SOUTH COUNTY HOUSING CORPORATION |
9389 Monterey Rd, Gilroy Multifamily Investment
2013 construction in a high-cost ownership pocket supports durable renter demand, with neighborhood occupancy holding in the low-90% range according to WDSuite’s CRE market data.
Located in Gilroy within the San Jose–Sunnyvale–Santa Clara metro, the property sits in an Urban Core neighborhood rated C+ (ranked 239 of 344), indicating mixed fundamentals but practical renter appeal. Amenity access is competitive among San Jose–Sunnyvale–Santa Clara neighborhoods (amenity rank 109 of 344), with a particularly dense mix of everyday needs: grocery access ranks near the top of the metro and in the 99th percentile nationally, and restaurants also score in the high national percentiles. Cafés and childcare options are similarly well-represented. Parks and pharmacies are less prevalent immediately nearby, suggesting some residents may rely on short drives for those services.
For investors evaluating demand stability, neighborhood occupancy is around the low-90% range, and the share of renter-occupied housing units is just over half. This renter concentration supports a larger tenant base and steady leasing velocity for multifamily assets, while the metro context indicates performance that is above the national median but middle-of-the-pack locally.
Within a 3-mile radius, population and household counts have edged up and are projected to expand further by the late 2020s, implying a broader tenant pipeline. Household incomes have risen meaningfully and are forecast to continue growing, which can support rent collections and reduce turnover risk. Where it fits the local story, rising contract rents are also projected, according to WDSuite’s commercial real estate analysis, reinforcing potential for sustained cash flow if pricing remains aligned with local income trends.
Home values in the neighborhood sit in the mid-90s national percentile and the value-to-income ratio is elevated relative to the U.S., underscoring a high-cost ownership market. For multifamily investors, this typically sustains rental reliance and can aid retention, assuming rents are managed against incomes to limit affordability pressure.
Safety indicators for this neighborhood trend below the metro average and below national medians, signaling relatively higher crime exposure than many San Jose–Sunnyvale–Santa Clara peers (crime rank 237 of 344). Nationally benchmarked measures place the area in lower percentiles for both property and violent offenses. That said, recent year-over-year data show a notable improvement in violent offense rates (improvement ranked in the stronger tier nationally), suggesting directional progress worth monitoring rather than a resolved condition.
For underwriting, this profile argues for prudent security measures, marketing that emphasizes amenity access and commute convenience, and conservative assumptions on loss-to-lease and turnover until further trend confirmation. Always compare submarket and street-level considerations during site visits and with updated local reporting.
The location draws on South Bay technology and corporate employment, supporting commuter demand and lease retention for workforce and professional renters. Nearby anchors include IBM, Netflix, eBay, Adobe, and PayPal.
- IBM Silicon Valley Lab — technology R&D (14.5 miles)
- Netflix — streaming & media (26.2 miles) — HQ
- Ebay — e-commerce (26.2 miles) — HQ
- Adobe Systems — software (26.8 miles)
- Paypal Holdings — fintech (30.2 miles) — HQ
9389 Monterey Rd offers a 2013-vintage, 26-unit asset with average units around 750 square feet—newer than the neighborhood’s predominantly mid‑century stock. The newer vintage enhances competitive positioning versus older properties and can moderate near-term capital needs, while leaving room for targeted upgrades and amenity tuning to drive rent premiums. Based on CRE market data from WDSuite, neighborhood occupancy sits in the low-90% range and the renter-occupied share is just over half—signals that point to a stable tenant base for multifamily.
Demand is supported by a high-cost ownership landscape (nationally high home values and value-to-income ratios) that reinforces reliance on rentals, and by a 3-mile radius showing ongoing population and household growth alongside rising incomes, which can underpin rent levels and retention. Key risks to underwrite include safety metrics that trail metro averages and a local amenity mix with limited parks/pharmacies, offset by strong access to groceries, restaurants, and major employers across the South Bay.
- 2013 construction offers competitive positioning versus older neighborhood stock with manageable near-term capex planning.
- Neighborhood occupancy in the low-90% range and a majority-renter context support leasing stability.
- High-cost ownership market sustains rental reliance, aiding pricing power with prudent lease management.
- 3-mile radius shows population/household growth and rising incomes, expanding the tenant base over time.
- Risks: below-metro safety metrics and fewer nearby parks/pharmacies; underwrite security, marketing, and turnover conservatively.