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3047 David Ave 14 Unit Apartment Building $3,700,000 ($264,286/Unit) 4.37% Cap Rate San Jose, CA 95128
Investment Highlights
- PRIME WEST SAN JOSE LOCATION
- DESIRABLE UNIT MIX 10 One-Bedroom & 4 Two-Bedroom Units
- THE PROPERTY OFFERS A CURRENT CAP RATE EXCEEDING 4.00%, WITH A PRO FORMA CAP RATE PROJECTED ABOVE 7.00%
- POSITIONED BETWEEN SANTANA ROW & HISTORIC DOWNTOWN CAMPBELL
- SIGNIFICANT RENTAL UPSIDE Approximately 30% Below Market Rents
- EXCELLENT ACCESS TO HIGHWAYS 280, 880 & 17
Executive Summary
Contact jcastellanos@marcusmillichap.com for OM.
Jimmy Castellanos is pleased to present 3047 David Avenue, a 14-unit multifamily property in San Jose, California. Built in 1958, the property sits on a 13,200 square foot parcel and includes approximately 8,076 square feet of rentable space.The unit mix consists of ten one-bedroom/one-bath units and four two-bedroom/one-bath units, offering an efficient layout that appeals to a wide tenant base. The garden-style design allows for easy management and has historically supported strong occupancy. The property is ideally located between Historic Downtown Campbell and Santana Row, with convenient access to dining, retail, and entertainment. It is also within 3–5 miles of major tech employers, including Adobe, eBay, PayPal, Zoom, Western Digital, and Nutanix. The location also offers excellent connectivity via Highways 280, 880, and 17, further supporting strong tenant demand.
Jimmy Castellanos is pleased to present 3047 David Avenue, a 14-unit multifamily property in San Jose, California. Built in 1958, the property sits on a 13,200 square foot parcel and includes approximately 8,076 square feet of rentable space.The unit mix consists of ten one-bedroom/one-bath units and four two-bedroom/one-bath units, offering an efficient layout that appeals to a wide tenant base. The garden-style design allows for easy management and has historically supported strong occupancy. The property is ideally located between Historic Downtown Campbell and Santana Row, with convenient access to dining, retail, and entertainment. It is also within 3–5 miles of major tech employers, including Adobe, eBay, PayPal, Zoom, Western Digital, and Nutanix. The location also offers excellent connectivity via Highways 280, 880, and 17, further supporting strong tenant demand.
Financial Summary (Actual - 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 (Actual - 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 | $3,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $264,286 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 4.37% | Building Size | 8,076 SF |
| Gross Rent Multiplier | 13.63 | Average Occupancy | 86% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | Parking Ratio | 1.73/1,000 SF |
| Zoning | R3, San Jose | ||
| Price | $3,700,000 |
| Price Per Unit | $264,286 |
| Sale Type | Investment |
| Cap Rate | 4.37% |
| Gross Rent Multiplier | 13.63 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 8,076 SF |
| Average Occupancy | 86% |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 1.73/1,000 SF |
| Zoning | R3, San Jose |
Amenities
Unit Amenities
- Storage Space
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $2,049 | - |
| 1+1 | 10 | $1,876 | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 279-26-056 | Total Assessment | $3,121,200 (2025) |
| Land Assessment | $1,924,740 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,196,460 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
279-26-056
Land Assessment
$1,924,740 (2025)
Improvements Assessment
$1,196,460 (2025)
Total Assessment
$3,121,200 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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3047 David Ave
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