Multifamily Property for Sale in San Jose, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Jose, CA 95112

Description

The Zurich Group of Marcus & Millichap is pleased to present Veridian on 5th, a well-located 12-unit apartment community in the heart of San Jose’s urban core. Positioned approximately 300 feet from San José State University, the property benefits from an exceptional location that provides a built-in, highly consistent tenant base driven by students, faculty, and young professionals. The property consists of twelve (12) 2-bedroom, 1-bathroom units, totaling approximately 6,828 square feet on a 9,522 square foot lot. The 100% two-bedroom unit mix offers operational simplicity and broad rental appeal, particularly in this supply-constrained, high-demand rental pocket adjacent to campus. Additionally, unit 439-5 features an in-unit washer and dryer, providing enhanced convenience for tenants. This turn-key asset offers twelve uncovered parking spaces and zero tuck-under parking spaces, a favorable configuration that eliminates soft-story concerns while still accommodating tenant parking needs. Veridian on 5th is ideally situated within a half mile of Downtown San Jose and San Pedro Square, placing tenants within immediate reach of a vibrant mix of dining, retail, and nightlife. The property is also approximately two miles from Diridon Station, providing access to Caltrain, ACE, and future BART service, further enhancing regional connectivity. Surrounded by Silicon Valley’s major employment hubs, the asset is well-positioned to attract renters seeking proximity to both education and employment centers. The combination of irreplaceable location, strong demand drivers, and transit accessibility positions Veridian on 5th as a compelling long-term investment opportunity. Investment Highlights: • Unmatched Location ±300 feet from San José State University • 100% 2-Bedroom Units offering highly functional and desirable unit mix • Prime Urban Setting located in the heart of San Jose's downtown core • Walkable Lifestyle within 0.5 miles of Downtown San Jose & San Pedro Square

Market Context

This multifamily in San Jose, CA is listed for sale. It is offered at an approximate 5.4% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in San Jose, CA — <a href="/search/sale/multifamily/california/san-jose">view the full market</a>.

As of Q3 2021, the Silicon Valley multifamily market showed a 4.4% vacancy rate, and average asking rents near $1591.00/unit/mo. Source: Www.lee-Associates.com Q3 2021 market report.

Tight vacancy keeps competition for quality space elevated.

Multifamily market FAQ

Is the Silicon Valley multifamily market tightening or softening?
Vacancy is around 4.4% (Q3 2021).

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