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1470 W San Carlos St 213 Unit Apartment Building For Sale San Jose, CA 95126
Investment Highlights
- Fully entitled 213-unit, 7-story multifamily community on ±37,189 SF (0.854 AC)
- Unit mix: 155 one-bedroom and 58 two-bedroom units
- Under 1 mile to Diridon Station: Caltrain, VTA Light Rail, Amtrak, ACE, future BART
- Discretionary entitlements and ministerial approvals in place
- ±1,490 SF of ground-floor commercial plus 182 parking spaces in a single subterranean level
- Immediate access to I-280 and CA-87; 1.5 miles to Downtown San Jose
Executive Summary
1470 W San Carlos St - Entitled 213-Unit Multifamily Development Site
Unpriced
Borelli Investment Company is pleased to present a rare opportunity to acquire a ±37,189 SF (0.854 AC) fully entitled multifamily development site comprising two contiguous parcels on West San Carlos Street in central San Jose, one of Silicon Valley's most supply-constrained residential markets.
The site is fully entitled for a 213-unit, 7-story multifamily community with discretionary entitlements and ministerial approvals in place, allowing a buyer to proceed toward vertical development with substantially reduced entitlement risk. The approved program includes ±139,782 SF of residential area across 155 one-bedroom and 58 two-bedroom units, ±1,490 SF of ground-floor commercial, and 182 parking spaces in a single subterranean level.
Located in the established West San Carlos urban infill corridor, the site is under 1 mile from Diridon Station (Caltrain, VTA Light Rail, Amtrak, ACE, and future BART), 1.5 miles from Downtown San Jose, and minutes from Santana Row and Westfield Valley Fair, with immediate access to I-280 and CA-87.
Assisted living development could also be accommodated on the site, though it would require a change to the current entitlements.
Unpriced
Borelli Investment Company is pleased to present a rare opportunity to acquire a ±37,189 SF (0.854 AC) fully entitled multifamily development site comprising two contiguous parcels on West San Carlos Street in central San Jose, one of Silicon Valley's most supply-constrained residential markets.
The site is fully entitled for a 213-unit, 7-story multifamily community with discretionary entitlements and ministerial approvals in place, allowing a buyer to proceed toward vertical development with substantially reduced entitlement risk. The approved program includes ±139,782 SF of residential area across 155 one-bedroom and 58 two-bedroom units, ±1,490 SF of ground-floor commercial, and 182 parking spaces in a single subterranean level.
Located in the established West San Carlos urban infill corridor, the site is under 1 mile from Diridon Station (Caltrain, VTA Light Rail, Amtrak, ACE, and future BART), 1.5 miles from Downtown San Jose, and minutes from Santana Row and Westfield Valley Fair, with immediate access to I-280 and CA-87.
Assisted living development could also be accommodated on the site, though it would require a change to the current entitlements.
Property Facts
| Sale Type | Investment | Building Class | B |
| Sale Condition | Redevelopment Project | Lot Size | 0.39 AC |
| No. Units | 213 | Construction Status | Proposed |
| Property Type | Multifamily | Building Size | 200,000 SF |
| Property Subtype | Apartment | No. Stories | 7 |
| Apartment Style | Mid-Rise | ||
| Zoning | CN | ||
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 213 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.39 AC |
| Construction Status | Proposed |
| Building Size | 200,000 SF |
| No. Stories | 7 |
| Zoning | CN |
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Moderately walkable
70/100
Very drivable
80/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 277-20-035 | Improvements Assessment | $0 |
| Land Assessment | $2,389,439 | Total Assessment | $2,389,439 |
Property Taxes
Parcel Number
277-20-035
Land Assessment
$2,389,439
Improvements Assessment
$0
Total Assessment
$2,389,439
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