OFFERING MEMORANDUM · 2019. 3. 7. · Broadcom 2,400 City of San Jose 2,326 Sanmina Corporation...

THE MAMMOTH HOMES2369 Mammoth Dr • San Jose, CA 95116

OFFERING MEMORANDUM

1

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and

should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified

information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due

diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the

future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or

asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any

tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable;

however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters

and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of

the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name

is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or

commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

THE MAMMOTH HOMES

San Jose, CA

ACT ID ZAA0010115

2

TABLE OF CONTENTS

SECTION

INVESTMENT OVERVIEW 01Offering Summary

Regional Map

Local Map

Aerial Photo

FINANCIAL ANALYSIS 02Rent Roll Summary

Rent Roll Detail

Operating Statement

Notes

Pricing Detail

Acquisition Financing

MARKET COMPARABLES 03Sales Comparables

Rent Comparables

MARKET OVERVIEW 04

Market Analysis

Demographic Analysis

THE MAMMOTH HOMES

3

THE MAMMOTH HOMES

4

INVESTMENT

OVERVIEW

THE MAMMOTH HOMES

#

EXECUTIVE SUMMARY

OFFERING SUMMARY

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES

Rosendin Electric Inc 3,668

Crows Auto Sales 3,500

Bell Integrator 2,500

Broadcom 2,400

City of San Jose 2,326

Sanmina Corporation 2,295

Flextronics Intl USA Inc 2,029

Corrections Dept of 2,008

Hadco Santa Clara Inc 2,000

Sunrun 2,000

Smtc Manufacturing Corp Cal 1,875

Cordis Corporation 1,600

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2018 Estimate Pop 45,505 290,479 533,105

2010 Census Pop 40,060 267,891 487,522

2018 Estimate HH 12,376 78,833 154,768

2010 Census HH 10,949 72,516 139,668

Median HH Income $58,659 $79,175 $86,607

Per Capita Income $22,406 $30,175 $35,222

Average HH Income $81,766 $109,781 $119,950

UNIT MIX

NUMBEROF UNITS

UNIT TYPEAPPROX.SQUARE FEET

4 2 Bedroom/1 Bathroom 753

4 Total 3,012

VITAL DATA

Price $1,395,000 CURRENT YEAR 1

Down Payment 35% / $488,250 CAP Rate 4.49% 5.93%

Loan Amount $906,750 GRM 15.79 12.87

Loan Type Proposed NewNet Operating Income

$62,599 $82,782

Interest Rate / Amortization 4.75% / 30 YearsNet Cash Flow After Debt Service

1.90% / $9,261 6.03% / $29,444

Price/Unit $348,750 Total Return 4.03% / $19,692 9.00% / $43,942

Price/SF $463.15

Number of Units 4

Rentable Square Feet 3,012

Number of Buildings One

Number of Stories Two

Year Built 1960

Lot Size 0.17 acre(s)

5

THE MAMMOTH HOMES

OFFERING SUMMARY

▪ Well Located North San Jose Fourplex

▪ Desirable Unit Mix; All Two-Bedroom/One-Bath Units

▪ Individually Metered Gas and Electric to Offset Expenses

▪ Laundry Facility for Additional Income

▪ Onsite Carport Parking

▪ Well Located Near Highways 280 and 101; Walking Distance to Regional Medical

Center

INVESTMENT HIGHLIGHTS

Marcus & Millichap is pleased to announce the exclusive offering of 2369 Mammoth Drive in San Jose, California. Built in 1960, the 3,104 square foot building resides on a

7,440 square foot lot. The unit mix consists of all two-bedroom/one-bath units. The fourplex is constructed of wood frame construction, composition shingle roof, concrete

perimeter foundation, and stucco exteriors.

The interiors are clean and spacious. The building offers on-site laundry for additional income and individually metered gas & electric to offset operating costs. ONE of the

Four Units was recently remodeled and re-rented at $2,100.00 (two thousand one hundred fifty dollars).

The subject property is minutes away from DOWNTOWN SAN JOSE (the Epicenter of the South Bay Job Hub) and both Highway 280 and Highway 101.

Well located, the subject is only blocks from the Regional Medical Center,', grocery shopping center and local retail strip centers. An investor/buyer will benefit from the

locations numerous tenant hubs, which will ensure strong historical occupancy. The property is in close proximity to Silicon Valley's major employment hubs via 101 and

Highway 680.

INVESTMENT OVERVIEW

6

THE MAMMOTH HOMES

#

OFFERING SUMMARY

PROPERTY OVERVIEW

The Subject Property is an Excellent Value-Add Opportunity in the Alum Rock Area of San Jose. It consists of four

2Bedroom/1Bathroom Units. The property also features a separate carport and storage area for every unit. It also

features on-site laundry.

The property was also recently painted and has a recently renovated 2Bedroom/1Bathroom Unit that was rented

for $2,150.00.

The balance of the units features long-term tenants who have benefited from Dramatic Improvements in the Local

Job Market and Tech Resurgence personified in Downtown San Jose,

7

▪ Private Driveway

▪ Covered Parking

Common Area Amenities

▪ Laundry Room

▪ Separate Storage Area

▪ Professionally Landscaped

▪ Spacious Units

Unit Amenities

▪ Large Kitchen and Dining Area

▪ Screen Doors

▪ Spacious Closet Space Throughout Unit

▪ Gas Wall Heat

7

THE MAMMOTH HOMES

PROPERTY SUMMARY

OFFERING SUMMARY

PROPOSED FINANCING

First Trust Deed

Loan Amount $906,750

Loan Type Proposed New

Interest Rate 4.75%

Amortization 30 Years

Loan Term 30 Years

Loan to Value 65%

Debt Coverage Ratio 1.17

THE OFFERING

Property The Mammoth Homes

Price $1,395,000

Property Address 2369 Mammoth Dr, San Jose, CA

Assessors Parcel Number 484 07 045

SITE DESCRIPTION

Number of Units 4

Number of Buildings One

Number of Stories Two

Year Built/Renovated 1960

Rentable Square Feet 3,012

Lot Size 0.17 acre(s)

Type of Ownership Fee Simple

Parking Covered

Parking Ratio 1;1

Landscaping Mature

Topography Flat

UTILITIES

Water Landlord

Phone Tenant

Electric Tenant

Gas Tenant

CONSTRUCTION

Framing Woodframe

Exterior Stucoo

Parking Surface Asphault

Roof Slightly Pitched

MECHANICAL

HVAC Gas Wall HEat

Fire Protection Fire Extinguishers

8

REGIONAL MAP

THE MAMMOTH HOMES

9

LOCAL MAP

THE MAMMOTH HOMES

10

AERIAL PHOTO

THE MAMMOTH HOMES

11

Marcus & Millichap closes

more transactions than any other

brokerage firm.

12

THE MAMMOTH HOMES

12

PROPERTY PHOTO

THE MAMMOTH HOMES

13

FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS

THE MAMMOTH HOMES

RENT ROLL SUMMARY

14

FINANCIAL ANALYSIS

THE MAMMOTH HOMES

15

RENT ROLL DETAIL

FINANCIAL ANALYSIS

THE MAMMOTH HOMES

OPERATING STATEMENT

16

FINANCIAL ANALYSIS

THE MAMMOTH HOMES

NOTES

17

FINANCIAL ANALYSIS

THE MAMMOTH HOMES

PRICING DETAIL

18

MARCUS & MILLICHAP CAPITAL CORPORATION

CAPABILITIES

MMCC—our fully integrated, dedicated financing arm—is committed to

providing superior capital market expertise, precisely managed execution, and

unparalleled access to capital sources providing the most competitive rates and

terms.

We leverage our prominent capital market relationships with commercial banks,

life insurance companies, CMBS, private and public debt/equity funds, Fannie

Mae, Freddie Mac and HUD to provide our clients with the greatest range of

financing options.

Our dedicated, knowledgeable experts understand the challenges of financing

and work tirelessly to resolve all potential issues to the benefit of our clients.

National platform

operating

within the firm’s

brokerage offices

$5.63 billion

total national

volume in 2017

Access to more

capital sources

than any other

firm in the

industry

Optimum financing solutions to

enhance value

Our ability to enhance buyer

pool by expanding finance

options

Our ability to enhance

seller control

• Through buyer

qualification support

• Our ability to manage buyers

finance expectations

• Ability to monitor and

manage buyer/lender progress,

insuring timely,

predictable closings

• By relying on a world class

set of debt/equity sources

and presenting a tightly

underwritten credit file

WHY MMCC?

Closed 1,707

debt and equity

financings

in 2017

ACQUISITION FINANCING

THE MAMMOTH HOMES

19

THE MAMMOTH HOMES

20

MARKET

COMPARABLES

THE MAMMOTH HOMES

SALES COMPARABLES MAP

21

THE MAMMOTH HOMES

(SUBJECT)

The Pearl Avenue Homes

832 Jeanne Avenue

249 N 18th Street

San Fernando Homes

SALES COMPARABLES

1

2

3

4

PROPERTY NAMETHE MAMMOTH HOMES

SALES COMPARABLES

22

SALES COMPARABLES

Avg. $524.38

$0.00

$70.00

$140.00

$210.00

$280.00

$350.00

$420.00

$490.00

$560.00

$630.00

$700.00

The MammothHomes

The PearlAvenueHomes

832 JeanneAvenue

249 N 18thStreet

SanFernandoHomes

Average Price Per Square Foot

Avg. $364,896

$0

$40,000

$80,000

$120,000

$160,000

$200,000

$240,000

$280,000

$320,000

$360,000

$400,000

The MammothHomes


832 JeanneAvenue

249 N 18thStreet

SanFernandoHomes

Average Price Per Unit

Avg. 18.79

0.00

2.30

4.60

6.90

9.20

11.50

13.80

16.10

18.40

20.70

23.00

The MammothHomes


832 JeanneAvenue

249 N 18thStreet

SanFernandoHomes

Average GRM

Avg. 4.21%

0.0

0.6

1.2

1.8

2.4

3.0

3.6

4.2

4.8

5.4

6.0

The MammothHomes


832 JeanneAvenue

249 N 18thStreet

SanFernandoHomes

Average Cap Rate

SALES COMPARABLES SALES COMPS AVG

PROPERTY NAME

MARKETING TEAM

THE MAMMOTH HOMES

SALES COMPARABLES

rentpropertyname1

rentpropertyaddress1

rentpropertyname1


rentpropertyname1


23

SALES COMPARABLES

Units Unit Type

Offering Price: $1,395,000 4 2 Bdr 1 Bath

Price/Unit: $348,750

Price/SF: $463.15

CAP Rate: 4.49%

GRM: 15.79

Total No. of Units: 4

Year Built: 1960

Underwriting Criteria

Income $90,132 Expenses $27,533

NOI $62,599

THE MAMMOTH HOMES2369 Mammoth Dr, San Jose, CA, 95116

1

Close Of Escrow: 2/6/2018

Days On Market: 54

Sales Price: $1,550,000


Price/SF: $514.27

CAP Rate: 3.06%

GRM: 21.09


Year Built: 1963


Expenses $28,461

Vacancy $0

THE PEARL AVENUE HOMES3074 Pearl Ave, San Jose, CA, 95136

Units Unit Type

Close Of Escrow: 6/16/2016 4 2 Bdr Bath



Price/SF: $522.20

CAP Rate: 5.80%

GRM: 17.44


Year Built: 1959


Income $110,400 Expenses $23,920

2

NOTES

5.5 Miles from Subject Property

832 JEANNE AVENUE832 Jeanne Ave, San Jose, CA, 95116

PROPERTY NAME

MARKETING TEAM

THE MAMMOTH HOMES

SALES COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


24

SALES COMPARABLES

Units Unit Type

Close Of Escrow: 9/27/2018 4 2 Bdr 1 Bath Flat

Days On Market: 7



Price/SF: $457.10

CAP Rate: 3.80%

GRM: 18.55


Year Built: 1954

3

NOTES

Very Good Physical Condition.

249 N 18TH STREET249 N 18th St, San Jose, CA, 95112

4

Units Unit Type

Close Of Escrow: 6/12/2018 2 1 Bdr 1 Bath Flat

Days On Market: 11 1 2 Bdr 1 Bath Flat



Price/SF: $603.93

CAP Rate: 4.18%

GRM: 18.09


Year Built: 1950

NOTES

Very Good Condition. Washer/Dryer Hook-Ups. Garages.

SAN FERNANDO HOMES1361 E San Fernando St, San Jose, CA, 95116

8

THE MAMMOTH HOMES

RENT COMPARABLES MAP

THE MAMMOTH HOMES

(SUBJECT)

832 Jeanne Avenue

2311 Mammoth Drive

2360 Mammoth Drive

2381 Mammoth Drive4

7

8

9

11

20

12

14

15

16

17

13

18

10

4

1

2

3

25


RENT COMPARABLES

26

AVERAGE OCCUPANCY

Avg. 100.00%

0

10

20

30

40

50

60

70

80

90

100

The MammothHomes

832 JeanneAvenue

2311Mammoth

Drive

2360Mammoth

Drive

2381Mammoth

Drive


RENT COMPARABLES

27

AVERAGE RENT - MULTIFAMILY

Avg. $2,095

$0

$300

$600

$900

$1,200

$1,500

$1,800

$2,100

$2,400

$2,700

$3,000

The MammothHomes

832 JeanneAvenue

2311Mammoth

Drive

2360Mammoth

Drive

2381Mammoth

Drive

2 Bedroom

PROPERTY NAME

MARKETING TEAM

THE MAMMOTH HOMES

RENT COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


28

YEAR BUILT: 1960

rentpropertyname1rentpropertyaddress1

Unit Type Units SF Rent Rent/SF

2 Bdr 1 Bath 4 753 $1,840 $2.44

Total/Avg. 4 753 $1,840 $2.44

THE MAMMOTH HOMES2369 Mammoth Dr, San Jose, CA, 95116

OCCUPANCY: 100% | YEAR BUILT: 1959

1

NOTES

Same Unit Mix as Subject


2 Bdr 4 715-715$2,300-$2,300

$3.22

Total/Avg. 4 715 $2,300 $3.22

832 JEANNE AVENUE832 Jeanne Ave, San Jose, CA, 95116

2


NOTES

Same Street As Subject Property. Fully Re-Furbished. Recently painted.


2 Bdr 1 Bath Flat 2 755-755 $2,020 $2.68

2 Bdr 1.5 Bath Flat 2 797-797 $2,290 $2.87

Total/Avg. 4 776 $2,155 $2.78

2311 MAMMOTH DRIVE2311 Mammoth Dr, San Jose, CA, 95116

PROPERTY NAME

MARKETING TEAM

THE MAMMOTH HOMES

RENT COMPARABLES

rentpropertyname1


rentpropertyname1


rentpropertyname1


29


3


2 Bdr 1 Bath Flat 4 870$1,650-$2,200

$2.21

Total/Avg. 4 870 $1,925 $2.21

NOTES

Same Street and Unit Mix as Subject Property. Larger Units. Inferior

Condition. Across the Street from the Subject Property.



4

NOTES

Same Unit Mix and Same Street as Subject Property. Recently renovated

(post sale). Adjacent to subject property.


2 Bdr 1 Bath Flat 4 776-776$1,650-$2,350

$2.58

Total/Avg. 4 776 $2,000 $2.58


THE MAMMOTH HOMES

30

MARKET

OVERVIEW

MARKET OVERVIEW

SAN JOSEOVERVIEW

1

Known to the world as Silicon Valley, the San Jose metro is located at

the southern end of the San Francisco Bay and encompasses Santa

Clara and San Benito counties. A large portion of the area’s 1,315

square miles is unincorporated ranch and farmland. The metro contains

more than 2 million inhabitants in 15 cities. More than half of the

region’s residents reside in the city of San Jose. It is the metro’s largest

city with more than 1 million residents, followed by Sunnyvale and

Santa Clara. Venture capital funds received in the 1990s helped to turn

the area into the world’s most prominent technology hub, a distinction

that remains today.

MARKET OVERVIEW

METRO HIGHLIGHTS

PREMIER HIGH-TECH CENTER

Silicon Valley’s dense concentration of high-tech

jobs is world renowned, attracting a variety of large

employers and startups.

HIGH INCOMES

Well-paying jobs in the tech sector contribute to a

median annual household income level that is

almost double the U.S. median.

HIGHLY EDUCATED WORKFORCE

Nearly half of all residents age 25 and older have

obtained at least a bachelor’s degree, well above

the U.S. average.

THE MAMMOTH HOMES

MARKET OVERVIEW

ECONOMY▪ The San Jose employment base contains more than 1 million workers, ranking the metro as

one of the 30 largest job markets in the nation.

▪ There are various Fortune 500 companies headquartered in San Jose, including Intel, Cisco

Systems, Apple Inc., eBay and Google Inc.

▪ The area’s many institutions of higher learning, including Stanford, San Jose State and

Santa Clara University, support these companies by graduating thousands of engineering

and computer science students.

SHARE OF 2017 TOTAL EMPLOYMENT

MAJOR AREA EMPLOYERS

Cisco Systems

County of Santa Clara

Adobe Systems Inc

Hewlett-Packard Co.

City of San Jose

Intel Corp

eBay

US Veterans Medical Center

San Jose State University

Apple* Forecast

2

MANUFACTURING

15%GOVERNMENT

HEALTH SERVICES

EDUCATION AND

+

OTHER SERVICES

2%

LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES

12%

AND UTILITIES

TRADE, TRANSPORTATION CONSTRUCTION

PROFESSIONAL AND

BUSINESS SERVICES

7%INFORMATION

21%

5%

9% 10% 3%

15%

THE MAMMOTH HOMES

MARKET OVERVIEW

DEMOGRAPHICS

SPORTS

EDUCATION

ARTS & ENTERTAINMENT

▪ The metro is expected to add approximately 36,000 people through 2022 and during

this time more than 25,000 households will be formed.

▪ High home prices contribute to a homeownership rate of 56 percent, which is below

the national rate of 64 percent.

▪ Nearly 47 percent of residents age 25 and older hold a bachelor’s degree, including

21 percent who have also obtained a graduate or professional degree.

The San Jose metro has an enviable combination of major universities that produce a highly

educated workforce, cutting-edge firms and exceptional affluence. Residents can visit a

plethora of museums including the San Jose Museum of Art and the Tech Museum of

Innovation. Santa Clara County is home to performing arts companies and hosts the San

Jose Jazz Festival. The San Francisco 49ers play their home games at Levi’s Stadium and

the San Jose Sharks hockey team plays at the SAP Center. Other sports venues include the

San Jose Municipal Stadium and Buck Shaw Stadium. The metro is minutes away from San

Francisco and some of the world’s finest wine-producing regions, notably the Napa, Sonoma

and Alexander valleys.

QUALITY OF LIFE

3

2017 Population by Age

0-4 YEARS

6%5-19 YEARS

19%20-24 YEARS

6%25-44 YEARS

30%45-64 YEARS

26%65+ YEARS

12%

* Forecast

Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s

Analytics; U.S. Census Bureau

THE MAMMOTH HOMES

37.1

2017MEDIAN AGE:

U.S. Median:

37.8

$105,300

2017 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

$56,300

2M

2017POPULATION:

Growth2017-2022*:

1.8%

678K

2017HOUSEHOLDS:

3.7%

Growth2017-2022*:

THE MAMMOTH HOMES

34

SAN JOSE METRO AREA

Mixed-Use Developments Near Mass Transit Highlight

Transforming Silicon Valley

Booming tech industry powers extraordinary housing demand. The tremendous growth of numerous

tech industries, including semiconductors, social media and cybersecurity, has underpinned an exceptional

economic expansion for over a decade. Fueled by median home prices well out of reach of the average metro

resident, these conditions have generated a severe housing shortage throughout the Bay Area. Developers

have mostly focused on locations in North and Central San Jose along the VTA lines and urban Santa Clara.

This year, the largest completion will be the second phase of Santa Clara Square, where more than 850 units

will come online, joining retail and office space just off Highway 101. Despite considerable and rising supply

growth, with overall deliveries reaching a new cycle high this year, vacancy has remained extremely tight

below 4 percent metrowide. Average rents have soared, particularly in more affordable areas such as North

San Jose and Milpitas, where monthly rates have risen nearly 50 percent in five years. Increasing supply will

likely cause minor upticks in vacancy in the short term, yet the overall lack of housing in the metro will support

rental gains throughout the year.

Class C assets dominate investment activity amid stellar appreciation. A diverse pool of capital including

foreign sources, institutions and private investors remain active buyers of San Jose multifamily assets. Class

C properties top buyer wish lists due to the high cost of new development and the ability to create value

through management and facility upgrades. Meanwhile, farther west in Mountain View and Cupertino,

stabilized assets near corporate campuses highlight the high end of the market, supporting cap rates in the

mid- to high-3 percent range. Elsewhere, locations in East San Jose and Milpitas offer investors opportunities

for higher returns and greater appreciation as development expands to these areas.

* Estimate; ** Forecast; v Through 3Q; z Trailing 12-month average

Sources: Marcus & Millichap Research Services; BLS; CoStar Group, Inc.

THE MAMMOTH HOMES

35

SAN JOSE METRO AREA

2019 Market Forecast

Job growth remains exceptional as organizations create 40,000 new

positions, led by gains in the IT and professional and business services

sectors.

Builders completed nearly 2,000 more units this year, expanding

development to a new cycle high. Locations along mass transit remain most

prevalent.

Vacancy ticks up to 3.6 percent as the volume and concentration of new

supply weigh on the overall market.

The average effective rent reaches $2,950 per month as high-end units in

Mountain View and Sunnyvale lift pricing.

Assets north of the airport and south of Highway 237 are drawing the

attention of builders and investors, creating an opportunity for current holders

wishing to diversify their holdings.

* Estimate; ** Forecast

Sources: CoStar Group, Inc.; RealPage, Inc.; Real Capital Analytics

Employment

up 3.5%

Construction

5,100 units

Vacancy

up 20 bps

Rent

up 2.9%

Investment

PROPERTY NAME

MARKETING TEAM

THE MAMMOTH HOMES

DEMOGRAPHICS

Source: © 2018 Experian

Created on March 2019

POPULATION 1 Miles 3 Miles 5 Miles

▪ 2023 Projection

Total Population 44,984 292,401 543,118

▪ 2018 Estimate


▪ 2010 Census


▪ 2000 Census


▪ Daytime Population

2018 Estimate 35,239 227,851 545,209

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

▪ 2023 Projection

Total Households 12,785 81,508 162,219

▪ 2018 Estimate


Average (Mean) Household Size 3.54 3.48 3.27

▪ 2010 Census


▪ 2000 Census


Growth 2015-2020 3.30% 3.39% 4.81%

HOUSING UNITS 1 Miles 3 Miles 5 Miles

▪ Occupied Units

2023 Projection 12,785 81,508 162,219

2018 Estimate 12,518 79,314 156,521

Owner Occupied 4,879 40,678 81,735

Renter Occupied 7,497 38,155 73,033

Vacant 142 481 1,753

▪ Persons In Units

2018 Estimate Total Occupied Units 12,376 78,833 154,768

1 Person Units 17.59% 18.37% 20.52%

2 Person Units 20.69% 22.41% 23.82%

3 Person Units 16.66% 16.35% 16.72%

4 Person Units 16.46% 15.83% 15.55%

5 Person Units 12.08% 10.36% 9.61%

6+ Person Units 16.53% 16.68% 13.78%

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

▪ 2018 Estimate

$200,000 or More 4.87% 10.40% 12.31%

$150,000 - $199,000 6.92% 10.31% 11.80%

$100,000 - $149,000 15.49% 19.17% 19.90%

$75,000 - $99,999 12.92% 12.25% 11.46%

$50,000 - $74,999 15.86% 13.90% 13.65%

$35,000 - $49,999 10.16% 9.86% 9.18%

$25,000 - $34,999 8.36% 6.85% 6.30%

$15,000 - $24,999 12.16% 7.70% 6.86%

Under $15,000 13.26% 9.56% 8.54%

Average Household Income $81,766 $109,781 $119,950

Median Household Income $58,659 $79,175 $86,607

Per Capita Income $22,406 $30,175 $35,222

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population By Age

2018 Estimate Total Population 45,505 290,479 533,105

Under 20 26.49% 26.04% 25.19%

20 to 34 Years 24.49% 26.43% 25.93%

35 to 39 Years 7.43% 7.53% 7.67%

40 to 49 Years 12.55% 13.18% 13.62%

50 to 64 Years 16.27% 16.24% 17.13%

Age 65+ 12.77% 10.56% 10.46%

Median Age 34.40 33.49 34.33

▪ Population 25+ by Education Level

2018 Estimate Population Age 25+ 30,258 190,834 357,792

Elementary (0-8) 13.46% 12.63% 10.28%

Some High School (9-11) 11.29% 10.36% 9.66%

High School Graduate (12) 25.02% 22.58% 20.89%

Some College (13-15) 17.57% 15.94% 16.67%

Associate Degree Only 7.05% 7.02% 7.22%

Bachelors Degree Only 15.59% 17.91% 20.44%

Graduate Degree 4.07% 8.85% 10.52%

▪ Population by Gender

2018 Estimate Total Population 45,505 290,479 533,105

Male Population 49.99% 51.68% 51.55%

Female Population 50.01% 48.32% 48.45%

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Income

In 2018, the median household income for your selected geography is

$58,659, compare this to the US average which is currently $58,754.

The median household income for your area has changed by 17.93%

since 2000. It is estimated that the median household income in your

area will be $67,829 five years from now, which represents a change

of 15.63% from the current year.

The current year per capita income in your area is $22,406, compare

this to the US average, which is $32,356. The current year average

household income in your area is $81,766, compare this to the US

average which is $84,609.

Population

In 2018, the population in your selected geography is 45,505. The

population has changed by 12.56% since 2000. It is estimated that the

population in your area will be 44,984.00 five years from now, which

represents a change of -1.14% from the current year. The current

population is 49.99% male and 50.01% female. The median age of the

population in your area is 34.40, compare this to the US average

which is 37.95. The population density in your area is 14,471.86

people per square mile.

Households

There are currently 12,376 households in your selected geography.

The number of households has changed by 23.16% since 2000. It is

estimated that the number of households in your area will be 12,785

five years from now, which represents a change of 3.30% from the

current year. The average household size in your area is 3.54

persons.

Employment

In 2018, there are 7,902 employees in your selected area, this is also

known as the daytime population. The 2000 Census revealed that

43.71% of employees are employed in white-collar occupations in this

geography, and 57.42% are employed in blue-collar occupations. In

2018, unemployment in this area is 4.44%. In 2000, the average time

traveled to work was 29.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

23.07% White, 2.42% Black, 0.45% Native American and 44.28%

Asian/Pacific Islander. Compare these to US averages which are:

70.20% White, 12.89% Black, 0.19% Native American and 5.59%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 46.71% of the current year

population in your selected area. Compare this to the US average of

18.01%.

PROPERTY NAME

MARKETING TEAM

THE MAMMOTH HOMES

Housing

The median housing value in your area was $459,267 in 2018,

compare this to the US average of $201,842. In 2000, there were

4,506 owner occupied housing units in your area and there were 5,544

renter occupied housing units in your area. The median rent at the

time was $889.

Source: © 2018 Experian

DEMOGRAPHICS

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THE MAMMOTH HOMES

DEMOGRAPHICS

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OFFERING MEMORANDUM · 2019. 3. 7. · Broadcom 2,400 City of San Jose 2,326 Sanmina Corporation...

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