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

Well-located in the heart of Downtown San Jose, 767 S 2nd Street is a well-maintained 5-unit multifamily asset consisting of all 1-bedroom/1-bathroom units totaling approximately 2,726 square feet on a 0.15-acre lot. Built in 1940 and currently 100% occupied, the property offers strong in-place income with a gross potential rent of $153,000 and an attractive current cap rate of 5.77%, while still presenting rental upside with units trending approximately 5% below market. The asset also includes five parking spaces and benefits from individually metered electricity and gas, enhancing operational efficiency. Situated in the highly desirable Spartan-Keyes neighborhood near San Jose State University and major Silicon Valley employment hubs, the property enjoys convenient access to transit, retail, and dining, driving consistent tenant demand. Offered at $1,590,000 ($318,000 per unit), this is a turnkey investment opportunity in one of Northern California’s most resilient and high-growth rental markets. Investment Highlights: • 5-unit multifamily asset with all 1BR/1BA units, 100% occupied, offering stable in-place income in a high-demand Silicon Valley rental market. Completed in 1940 and renovated in 2026. • Turnkey investment with $153K GPR, 5.77% cap rate, and rental upside with units averaging ~5% below market rents. • Prime Spartan-Keyes location near Downtown San Jose, SJSU, major employers, transit, dining, and retail, driving strong tenant demand. [767 S 2nd...treet - OM | PDF]

Market Context

This multifamily in San Jose, CA is listed for sale. It is offered at an approximate 5.8% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 53 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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