393 N 5th St 12 Unit Apartment Building $3,125,000 ($260,417/Unit) 5.11% Cap Rate San Jose, CA 95112

Positioned on a desirable corner lot in the Hensley Neighborhood, this well-located multifamily asset offers investors a rare opportunity to own in the heart of Downtown San Jose, less than one mile from San Jose State University and the city’s urban core. The property benefits from strong rental demand driven by one of the most dynamic employment and educational hubs in Silicon Valley.
The asset consists of 12 residential units with an attractive and highly marketable unit mix of (3) 2BD/1BA units, (8) 1BD/1BA units, and (1) studio, along with a coin-operated laundry facility providing an additional income stream. Tenants enjoy immediate access to downtown San Jose’s dining, retail, nightlife, and cultural amenities, as well as proximity to San José State University—one of the top-ranked public universities in the nation, ensuring consistent tenant demand.
Spanning 7,924 square feet and situated on a 10,764 square foot lot, the property is constructed on a cinderblock and concrete perimeter foundation with crawlspace access, offering long-term durability. Parking is well above average for the submarket, featuring 12 total spaces including 4 tuck-under and 8 uncovered stalls, all assigned to tenants. Each unit is further enhanced with a private balcony, and the centrally located courtyard creates a communal atmosphere rarely found in comparable assets.
The property has seen some improvements, including a newer roof that was replaced in 2024. Interior finishes across most units include updated carpet flooring, with original cabinetry and countertops, presenting a clear value-add pathway for investors seeking to modernize interiors and capture rental upside.All Units are equipped with white appliances and wall furnaces for heating.
This offering represents a compelling opportunity for Bay Area investors seeking stable in-place income, strong fundamentals, and future upside in one of San Jose’s most supply-constrained rental markets.