4930 National Ave 30 Unit Apartment Building $13,950,000 ($465,000/Unit) 4.49% Cap Rate Los Gatos, CA 95032

The R&Z Group is pleased to present 4930 National Ave, a 30-unit community in the Carlton neighborhood of San Jose. Built in 1964, the property is arranged as three residential buildings wrapped around a central pool courtyard — a straightforward, single-unit-type asset that’s easy to operate and easy to lease.
Every unit shares the same two-story, 2-bedroom/1.5-bath townhome layout, and that layout does real work for leasing: each unit comes with its own private patio and generous closet storage, two things that are hard to find in stacked-flat apartment product and that tend to draw a longer-staying, more settled tenant. Parking follows the same logic — every unit is paired with its own assigned carport space, so residents aren’t competing for parking on National Ave.
Several of the units have already been renovated with updated kitchens and bathrooms — quartz counters, dark cabinetry, stainless appliances — giving a new owner a head start on the unit-by-unit upgrade program that’s typical of a property this age, rather than a full gut-and-renovate lift across all 30 units.
The setting reinforces that livability. National Ave is a quiet, tree-lined residential street surrounded by single-family homes, giving the property a calm, low-traffic feel that’s more suburban than urban-infill — a meaningfully different tenant experience than the busier corridors nearby, while still keeping residents a short drive from Downtown San Jose.
Between the private outdoor space, in-unit storage, assigned parking, and a genuinely quiet block, 4930 National Ave is built to hold tenants rather than chase them.