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1661 Alum Rock Ave 9 Unit Apartment Building $3,075,000 ($341,667/Unit) 8.15% Cap Rate San Jose, CA 95116
EXECUTIVE SUMMARY
This one of the highest cap rate retail/residential investments currently available in Silicon Valley.
Offered at $3.25M
7.63% Cap Rate on current rents
7 Renovated Residential Units + 2 Freestanding Retail Units
~.50 Acre Lot with ADU development potential
Here’s what sets this property apart:
Retail Units:
One is a fully built-out catering kitchen with a hood, walk-in cooler & freezer— currently occupied until March 2027 featuring 4% annual increases
The other is a wheel & tire shop with a lease ready for renewal, providing additional value-add upside through updated terms or repositioning
Residential Units:
Fully renovated with stable in-place tenants
Turn-key, cash-flowing from day one
Development Potential:
The oversized lot makes this a perfect candidate for multiple ADUs, unlocking even more income and equity growth
This property is ideal for private investors looking to combine high current yield with strategic upside. With stabilized income, built-in value-add plays, and strong fundamentals, it checks every box for today’s savvy investor.
Offered at $3.25M
7.63% Cap Rate on current rents
7 Renovated Residential Units + 2 Freestanding Retail Units
~.50 Acre Lot with ADU development potential
Here’s what sets this property apart:
Retail Units:
One is a fully built-out catering kitchen with a hood, walk-in cooler & freezer— currently occupied until March 2027 featuring 4% annual increases
The other is a wheel & tire shop with a lease ready for renewal, providing additional value-add upside through updated terms or repositioning
Residential Units:
Fully renovated with stable in-place tenants
Turn-key, cash-flowing from day one
Development Potential:
The oversized lot makes this a perfect candidate for multiple ADUs, unlocking even more income and equity growth
This property is ideal for private investors looking to combine high current yield with strategic upside. With stabilized income, built-in value-add plays, and strong fundamentals, it checks every box for today’s savvy investor.
PROPERTY FACTS Under Contract
| Price | $3,075,000 | Apartment Style | Low-Rise |
| Price Per Unit | $341,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.49 AC |
| Cap Rate | 8.15% | Building Size | 9,313 SF |
| Sale Condition | 1031 Exchange | No. Stories | 1 |
| No. Units | 9 | Year Built | 1949 |
| Property Type | Multifamily | Parking Ratio | 1.83/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | 1663 - CG, 1661 - C3H | ||
| Price | $3,075,000 |
| Price Per Unit | $341,667 |
| Sale Type | Investment |
| Cap Rate | 8.15% |
| Sale Condition | 1031 Exchange |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 9,313 SF |
| No. Stories | 1 |
| Year Built | 1949 |
| Parking Ratio | 1.83/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | 1663 - CG, 1661 - C3H |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Smoke Free
- Storage Space
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | 771 |
1 1
Walk Score®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 481-12-070 | Improvements Assessment | $462,757 |
| Land Assessment | $1,041,979 | Total Assessment | $1,504,736 |
PROPERTY TAXES
Parcel Number
481-12-070
Land Assessment
$1,041,979
Improvements Assessment
$462,757
Total Assessment
$1,504,736
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Presented by
Mpire Commercial Real Estate
1661 Alum Rock Ave
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