For Sale
$2,195,000

420 7Th StSan Jose, CA 95112

Six-unit complex, strong ROI, prime location

Overview

Added:
Dec 11, 2024
Days on market:
115
This two-story, six-unit apartment building in San Jose, CA offers a compelling investment opportunity. Located at 420 S 7th St, this 4,122 square foot property sits on a 0.14-acre lot and boasts 100% occupancy. The building, constructed in 1959, features a mix of five two-bedroom, one-bathroom units and one one-bedroom, one-bathroom unit. Each unit includes designated carport parking, and a shared laundry room is available for tenant convenience. The property's current Net Operating Income (NOI) is $102,323, with a projected NOI of $124,998, resulting in a current cap rate of 4.66% and a pro-forma cap rate of 5.69%. The asking price is $2,195,000, translating to a price per unit of $365,833.33 and a price per square foot of $532.51. The property is zoned RM and benefits from its proximity to San Jose State University, major employers (including Cisco, PayPal, and Adobe), and easy access to Highways 280, 101, and 680. This location ensures high rental demand and low vacancy rates, making it an attractive investment in a thriving market. The property's APN is 467-48-069. This is a rare opportunity to acquire a well-located, income-producing multifamily property in a high-growth area of San Jose.

Highlights

  • Six-unit apartment building in San Jose, CA, offering strong investment potential.
  • Located at 420 S 7th St, on a 0.14-acre lot, totaling 4,122 square feet.
  • 100% occupancy with five 2bd/1ba units and one 1bd/1ba unit; each with carport parking and shared laundry.
  • Current NOI $102,323, projected NOI $124,998; current cap rate 4.66%, pro-forma cap rate 5.69%.
  • Asking price $2,195,000; $365,833.33 per unit; $532.51 per square foot.
  • Excellent location near San Jose State University, major employers, and freeways (280, 101, 680), ensuring high demand and low vacancy. APN: 467-48-069.

Property Details for 420 7Th St

Property type
Apartment buildings
Square Feet
4,122 SF
Class
C
Year Built
1959
Buildings
1
Stories
2
Lot Size (sq. ft)
6,098 SF
Units
6

Location Insight

City
San Jose
County
Santa Clara
State
California
Latitude
37.332577606596
Longitude
-121.87930915255
420 7Th St, San Jose, California

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
420 7Th St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message