| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 88th | Best |
| Demographics | 87th | Best |
| Amenities | 63rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3101 Magliocco Dr, San Jose, CA, 95128, US |
| Region / Metro | San Jose |
| Year of Construction | 2008 |
| Units | 50 |
| Transaction Date | 2016-11-02 |
| Transaction Price | $28,500,000 |
| Buyer | Woodmont Real Estate Services |
| Seller | Pacific Urban Residential |
3101 Magliocco Dr San Jose Multifamily Investment
This 50-unit property built in 2008 sits in a top-quartile San Jose neighborhood where median household income exceeds $156,000 and renter-occupied units represent 62% of local housing stock, according to CRE market data from WDSuite.
This property occupies an Urban Core neighborhood in San Jose that ranks 44th among 344 metro neighborhoods and earns an A rating based on multifamily property research fundamentals. Median household income within the 3-mile radius stands at $137,483—ranking in the 95th percentile nationally—and has grown 42% over the past five years. With 56.5% of housing units renter-occupied across the broader area, the depth of the tenant base supports sustained rental demand. Neighborhood-level contract rent reached $2,708, placing this submarket in the 98th percentile nationwide, while median home values of $1.44 million reinforce reliance on rental housing and limit near-term ownership competition.
The property was built in 2008, making it newer than the neighborhood average construction year of 1996 and positioning it favorably for reduced near-term capital expenditure. Neighborhood-level occupancy sits at 90.4%, roughly in line with metro norms, though the surrounding area saw a modest 1.8 percentage-point gain over five years. Demographic projections within three miles show household counts rising 35% by 2028 and renter-occupied units expanding by nearly 25%, directly supporting tenant pool expansion and lease-up velocity.
Amenity density ranks in the top quartile nationally: the neighborhood records 29 restaurants per square mile (98th percentile), nearly 4 cafés per square mile (98th percentile), and nearly 4 parks per square mile (98th percentile). Grocery access also ranks in the 82nd percentile. These amenities enhance tenant appeal and retention. The rent-to-income ratio of 0.21 ranks in the 25th percentile nationally, indicating relatively favorable affordability conditions that can support lease renewal rates and pricing power over time.
Crime metrics for this neighborhood reflect mixed trends typical of dense urban cores. The property offense rate stands at approximately 5,978 incidents per 100,000 residents, ranking 310th among 344 metro neighborhoods and placing it in the 1st percentile nationally—indicating elevated property crime relative to other U.S. neighborhoods. However, the property offense rate declined 10.7% year-over-year, a trend that ranks in the 52nd percentile nationally and suggests stabilization. Violent crime is estimated at roughly 244 incidents per 100,000 residents (17th percentile nationally), yet the violent offense rate fell 40.9% over the past year, ranking in the 81st percentile for improvement and reflecting meaningful near-term progress.
Investors should weigh these safety dynamics alongside the neighborhood's strong income demographics, amenity access, and institutional employer proximity. Crime trends remain a lease-management consideration, but year-over-year declines in both violent and property offenses point toward improving conditions that may support tenant retention and asset positioning over the hold period.
The property benefits from proximity to major Silicon Valley corporate campuses that anchor workforce housing demand. Within five miles sit headquarters and offices for some of the region's largest technology and digital commerce employers, supporting commute convenience and tenant retention.
- eBay — e-commerce & digital payments (1.8 miles) — HQ
- Apple — consumer technology offices (3.1 miles)
- Adobe Systems — enterprise software (3.3 miles)
- Netflix — streaming media & entertainment (3.8 miles) — HQ
- Nvidia — semiconductors & AI computing (4.1 miles) — HQ
This 50-unit asset offers exposure to one of the nation's strongest multifamily fundamentals: a top-quartile San Jose neighborhood where median household income exceeds $156,000, renter concentration reaches 62%, and demographic projections show household counts rising 35% and renter-occupied units expanding nearly 25% by 2028 within the three-mile radius. Commercial real estate analysis from WDSuite confirms that neighborhood-level contract rents rank in the 98th percentile nationally, while median home values above $1.4 million sustain rental demand by limiting ownership accessibility. The property's 2008 vintage is newer than the neighborhood average, reducing near-term capital planning pressure and supporting competitive positioning.
Proximity to eBay, Apple, Adobe, Netflix, and Nvidia headquarters and offices within five miles anchors workforce housing demand and commute appeal. Amenity density—including nearly 29 restaurants and 4 parks per square mile—ranks in the top national quartile, enhancing tenant retention. Investors should note that property crime rates remain elevated relative to national benchmarks, though year-over-year declines in both violent and property offenses suggest improving conditions. The combination of high-income demographics, strong renter concentration, institutional employer proximity, and newer construction supports a stable, workforce-oriented tenant base with long-term lease management upside.
- Top-quartile neighborhood income and renter concentration support sustained tenant demand and pricing power
- Household and renter-occupied unit growth projected through 2028 expands the tenant pool and supports occupancy stability
- 2008 construction year reduces near-term capital expenditure and aligns with competitive positioning in the submarket
- Proximity to eBay, Apple, Adobe, Netflix, and Nvidia anchors workforce housing appeal and commute convenience
- Elevated property crime warrants lease-management attention, though year-over-year declines in violent and property offenses indicate improving trends