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3531 Alden Way 9 Unit Apartment Building $3,400,000 ($377,778/Unit) 5.52% Cap Rate San Jose, CA 95117
Investment Highlights
- Prime West San Jose location near Santana Row, Valley Fair, Apple, NVIDIA, and the expanding OpenAI campus
- Available individually or together with the neighboring 8 unit (3537) for a combined 17 unit acquisition
- Desirable unit mix of spacious two bedroom and one bedroom units
Executive Summary
The Zurich Group of Marcus & Millichap is pleased to exclusively present 3531 Alden Way, a nine unit apartment community located in the heart of West San Jose. The property features a desirable unit mix of spacious two bedroom, two bathroom apartments and offers investors strong in place income with additional upside potential through continued rental growth. Ideally situated just minutes from Santana Row, Valley Fair, Apple, NVIDIA, and the expanding OpenAI campus, the location provides exceptional access to Silicon Valley's largest employment centers and premier shopping and dining. 3531 Alden Way presents an outstanding opportunity to acquire a well located multifamily investment in one of the region's most desirable rental markets. The neighboring property at 3537 Alden Way (8 units) is also available, providing the flexibility to purchase either property individually or both together as a 17 unit portfolio. Offering Memorandum and Deal Room access are available upon request. For additional information, contact The Zurich Group at zurichgroup@marcusmillichap.com.
Property Facts
| Price | $3,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | $377,778 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.25 AC |
| Cap Rate | 5.52% | Building Size | 6,900 SF |
| Gross Rent Multiplier | 12.49 | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | Parking Ratio | 1.3/1,000 SF |
| Zoning | RM | ||
| Price | $3,400,000 |
| Price Per Unit | $377,778 |
| Sale Type | Investment |
| Cap Rate | 5.52% |
| Gross Rent Multiplier | 12.49 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 6,900 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 1.3/1,000 SF |
| Zoning | RM |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
| 1+1 | 3 | - | - |
1 1
Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 303-29-010 | Improvements Assessment | $873,560 |
| Land Assessment | $822,568 | Total Assessment | $1,696,128 |
Property Taxes
Parcel Number
303-29-010
Land Assessment
$822,568
Improvements Assessment
$873,560
Total Assessment
$1,696,128
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3531 Alden Way
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