420 7Th StSan Jose, CA 95112

Property Details for 420 7Th St

Year built

1959

Construction

WOOD

Lot size

0.14 AC

Property size (Sq ft)

4,122 SF

Zone code

RM

Property type

Apartment buildings

APN

467-48-069

APU

46748069

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,565,589

  6.5%

  $1,445,159

  7%

  $1,341,934

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,781,984

  Geo Method

  $1,781,984

• Alternative Use

  Use

  Valuation

  Residential

  $1,445,159

  Hospitality

  $1,323,758

  Educational

  $1,101,351

  Medical

  $1,139,228

  Retail

  $1,713,213

Location Insight

City

San Jose

County

Santa Clara

State

California

Latitude

37.3328

Longitude

-121.879

CBSA code

41940

CBSA name

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

Property Tax & Assessments

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