Multifamily Property for Sale in San Jose, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Jose, CA 95111

Description

Marcus & Millichap is pleased to present 5390 Carryback Avenue, a 14-unit multifamily community located in San Jose, a gateway to Silicon Valley’s innovation and employment base. Constructed in 1980, the property comprises approximately 12,292 square feet of rentable space situated on a 27,500 square foot parcel and is improved with three detached buildings, including two six-unit apartment buildings and one two-unit townhouse-style structure. The unit mix is highly desirable and includes two (2) three-bedroom, two-bath units with in-unit laundry, two (2) two-bedroom, one-bath townhouse-style units with in-unit laundry, and ten (10) two-bedroom, one-bath apartment units. Investment Highlights: • 1980's Construction – Not Subject to San Jose City Rent Control (Only State Rent Control) • Strong Unit Mix includes large 3BD, 2BD, & Town-Home-Style Units • 23% Upside Potential – Room for Rent Increases through Turnover and Upgrades • Covered Parking + Private Spaces – A rare amenity in this Submarket • Proximity to Transit and Jobs – Minutes from Caltrain and major employers • Strong South San Jose Rental Market with Low Vacancy and Excellent Access to Major Silicon Valley Commuter Routes

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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