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Julian West Apartment 423 N 26th St 14 Unit Apartment Building $3,906,000 ($279,000/Unit) 6.41% Cap Rate San Jose, CA 95116

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INVESTMENT HIGHLIGHTS

  • The 2 Bedroom units are equipped with forced air heating.
  • Strong in-place income.
  • Amenities include communal courtyard, laundry room, assigned carport parking and balconies on select units.

EXECUTIVE SUMMARY

This building can be purchased individually or together with 445 N 26th St.
The R&Z Group of Compass Commercial is excited to introduce 423 N 26th St, San Jose CA 95116 to the open market. This two-story building is located in the Wooster neighborhood and offers its tenants a great location with near-by transportation, entertainment, dining and attractions.
This standout property boasts a versatile unit mix of (7) 2 Bed, 1 Bath and (7) 1 Bed 1 Bath units, all equipped with designated carports, and a convenient coin operated laundry room with 2 washers and 2 dryers with card readers that are owned. With approximately 10,360 square feet of living space on a 0.56-acre lot, this building provides both comfort for tenants and strong rental income for investors. The entire building is well kept, with a courtyard in the middle and a manicured landscape.
The location couldn’t be better! You’re a short drive from Downtown San Jose and have easy access to Highway 280, 87, and 101, putting all of San Jose within reach. Plus, approximation to major employers like Cisco, PayPal, FICO, ZOOM, Western Digital, Sage Intacct, PWC, Adobe, and the Apple Headquarters.
With its balanced unit mix, strong tenant appeal, and durable construction, 423 N 26th St represents a unique chance to acquire a stable, income-generating asset in one of the Bay Area’s most dynamic rental markets. This offering provides investors the opportunity to capture immediate cash flow while positioning for long-term growth in San Jose’s thriving economy.

FINANCIAL SUMMARY (ACTUAL - 2024)

ANNUAL ANNUAL PER SF
Gross Rental Income $362,760 $35.02
Other Income $3,378 $0.33
Vacancy Loss $10,883 $1.05
Effective Gross Income $355,255 $34.29
Taxes $44,657 $4.31
Operating Expenses $60,380 $5.83
Total Expenses $105,037 $10.14
Net Operating Income $250,218 $24.15

FINANCIAL SUMMARY (ACTUAL - 2024)

Gross Rental Income
Annual $362,760
Annual Per SF $35.02
Other Income
Annual $3,378
Annual Per SF $0.33
Vacancy Loss
Annual $10,883
Annual Per SF $1.05
Effective Gross Income
Annual $355,255
Annual Per SF $34.29
Taxes
Annual $44,657
Annual Per SF $4.31
Operating Expenses
Annual $60,380
Annual Per SF $5.83
Total Expenses
Annual $105,037
Annual Per SF $10.14
Net Operating Income
Annual $250,218
Annual Per SF $24.15

PROPERTY FACTS

Price $3,906,000
Price Per Unit $279,000
Sale Type Investment
Cap Rate 6.41%
Gross Rent Multiplier 10.77
No. Units 14
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class C
Lot Size 0.56 AC
Building Size 10,360 SF
Average Occupancy 100%
No. Stories 2
Year Built 1959
Parking Ratio 1.35/1,000 SF
Opportunity Zone Yes
Zoning R3 - Residential

AMENITIES

UNIT AMENITIES

  • Balcony
  • Refrigerator

SITE AMENITIES

  • Courtyard
  • Laundry Facilities

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
2+1 7 - -
1+1 7 $1,938 -
Walk Score®
Very Walkable (74)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
249-66-017
Land Assessment
$261,232 (2025)
Improvements Assessment
$647,685 (2025)
Total Assessment
$908,917 (2025)
Annual Taxes
$44,657 ($4.31/SF)
Tax Year
2024
  • Listing ID: 37464362

  • Date on Market: 8/28/2025

  • Last Updated:

  • Address: 423 N 26th St, San Jose, CA 95116

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