710 23Rd StSan Jose, CA 95112

Property Details for 710 23Rd St

Year built

1901

Lot size

0.11 AC

Zone code

R1

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

249-20-009

APU

24920009

Description

This exceptional 25-unit apartment building presents a compelling investment opportunity in San Jose, California. The property, encompassing approximately 24,491 square feet of net rentable space, sits on a sizable 35,324 square foot lot (0.81 acres). Constructed in 1962, the two-building complex features two stories and boasts a 96% occupancy rate, generating a current NOI of $503,722 and a pro-forma NOI of $552,395. The property includes a mix of one to three-bedroom units, offering a diverse range of living spaces. Convenient amenities include ample off-street parking and an on-site laundry facility. Its prime location at 710 N 23rd St, San Jose, CA 95112, places it within close proximity to San Jose State University (6 minutes away), Santa Clara University, and San Jose City College, making it attractive to students and faculty. The property's proximity to Japantown, downtown San Jose, and public transportation, including the Berryessa/North San Jose BART station, further enhances its appeal. The permitted zoning is MULTI-FAMILY RES (5+ units), offering potential for future development or expansion. This fee-simple ownership opportunity provides a strong foundation for long-term growth and profitability in a thriving San Jose market, just 4.5 miles from Norman Y. Mineta San Jose International Airport. The APN is 249-20-010.

• CAP approach

  CAP return

  Valuation

  6%

  $1,872,478

  6.5%

  $1,728,441

  7%

  $1,604,981

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,131,291

  Geo Method

  $2,131,291

• Alternative Use

  Use

  Valuation

  Residential

  $1,728,441

  Hospitality

  $1,583,243

  Educational

  $1,317,240

  Medical

  $1,362,541

  Retail

  $2,049,039

Location Insight

City

San Jose

County

Santa Clara

State

California

Latitude

37.3609

Longitude

-121.878

CBSA code

41940

CBSA name

SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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