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1342 Essex Way 4 Unit Apartment Building $1,950,000 ($487,500/Unit) 4.44% Cap Rate San Jose, CA 95117
Investment Highlights
- Premier West San Jose Location bordering Campbell with convenient access to Santana Row, Valley Fair, and Downtown Campbell
- Ample On-Site Parking: 6 Garages plus 6 Tandem Spaces
- Outstanding Unit Mix: (1) 3BD/2BA, (1) 2BD/2BA, and (2) 2BD/1BA
- Multiple Remodeled Units with Strong In-Place Rents and Upside
Executive Summary
Magnify is pleased to present 1342 Essex Way, a large 4plex located in a premier West San Jose neighborhood bordering Campbell. Built in 1967, the property consists of 3,928 building square feet on a 6,120 square foot parcel. The building features an attractive and diverse unit mix of (1) 3-Bed/2-Bath, (1) 2-Bed/2-Bath, and (2) 2-Bed/1-Bath units catering to a broad tenant base. The spacious 3BD/2BA has been nicely remodeled and offers excellent owner-occupant potential with a yard, dual-pane windows, and central heating. The property also benefits from 6 enclosed garages and 6 additional tandem spaces, providing ample parking for residents. Several units feature key interior upgrades, including vinyl plank flooring, tile, and updated kitchens/bathrooms. Positioned in one of Silicon Valley's strongest rental markets, this location offers convenient access to Downtown Campbell, Santana Row, Valley Fair, and major employers including Apple, NVIDIA, Netflix, Adobe, and more. With its desirable unit mix, strong rental appeal, and exceptional location near shopping, dining, transportation, and major job centers, 1342 Essex Way presents investors with a rare opportunity to acquire a quality asset with tangible upside in a highly sought-after West San Jose submarket.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,950,000 | Building Class | C |
| Price Per Unit | $487,500 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 3,928 SF |
| Cap Rate | 4.44% | Average Occupancy | 75% |
| Gross Rent Multiplier | 14.86 | No. Stories | 2 |
| No. Units | 4 | Year Built | 1967 |
| Property Type | Multifamily | Parking Ratio | 3.05/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3H | ||
| Price | $1,950,000 |
| Price Per Unit | $487,500 |
| Sale Type | Investment |
| Cap Rate | 4.44% |
| Gross Rent Multiplier | 14.86 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,928 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 3.05/1,000 SF |
| Zoning | R3H |
Amenities
Unit Amenities
- Dishwasher
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $3,412 | - |
| 2+2 | 1 | $2,520 | - |
| 2+1 | 2 | $2,503 | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 305-07-014 | Total Assessment | $1,802,766 (2025) |
| Land Assessment | $1,201,846 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $600,920 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
305-07-014
Land Assessment
$1,201,846 (2025)
Improvements Assessment
$600,920 (2025)
Total Assessment
$1,802,766 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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1342 Essex Way
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