Arcadia Square 1011 Leigh Ave 12 Unit Apartment Building $3,700,000 ($308,333/Unit) 5.35% Cap Rate San Jose, CA 95128

Step into this well-maintained 12-unit apartment complex situated in one of San Jose’s most desirable and transit-friendly pockets. Located at 1011 Leigh Ave, this two-story building features an attractive mix of (9) 1-bedroom/1-bath units and (3) studio units, offering strong renter appeal and consistent occupancy, currently 100% occupied.
Residents benefit from a variety of onsite conveniences, including nine (9) designated uncovered parking spaces, one (1) tuck-under parking stall, and three (3) individual garages and an on-site laundry room equipped with two leased WASH washer/dryer sets provides additional income potential and everyday convenience for tenants.
The property features a crawl space/concrete perimeter foundation and is configured with five units on the first floor and seven units on the second. Electrical systems vary slightly by unit, with most subpanels upgraded to Square D. The building is serviced by two water heaters.
Many units have received thoughtful updates over time, including modernized kitchens with refreshed cabinets and countertops, newer laminate or vinyl flooring, and updated appliances and bathroom finishes, enhancing both rentability and long-term asset positioning.
1011 Leigh Ave enjoys a prime central location near some of San Jose’s most vibrant destinations. Residents are just minutes from Downtown Willow Glen, known for its boutique shopping, dining, and entertainment offerings. Santana Row and Valley Fair are a short drive away, providing access to high-end retail, restaurants, and nightlife.
For commuters, the property is exceptionally well-situated: the VTA Fruitdale Station is a brief walk, offering direct routes to Campbell, Downtown San Jose, Santa Clara, and even Levi’s Stadium. This connectivity makes it an appealing option for professionals throughout the South Bay.