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5390 Carryback Ave 14 Unit Apartment Building $4,600,000 ($328,571/Unit) 5.42% Cap Rate San Jose, CA 95111
Investment Highlights
- 1980’s Construction – Not Subject to San Jose City Rent Control (Only State Rent Control)
- 23% Upside Potential – Room for Rent Increases through Turnover and Upgrades
- Proximity to Transit and Jobs – Minutes from Caltrain and major employers
- Strong Unit Mix includes large 3BD, 2BD, & Town-Home-Style Units
- Covered Parking + Private Spaces – A rare amenity in this Submarket
- Strong South San Jose Rental Market with Low Vacancy and Excellent Access to Major Silicon Valley Commuter Routes
Executive Summary
Jimmy Castellanos is pleased to present 5390 Carryback Avenue, a 14-unit multifamily community located in San Jose, a gateway to Silicon Valley’s innovation and employment base. Constructed in 1980, the property comprises approximately 12,292 square feet of rentable space situated on a 27,500 square foot parcel and is improved with three detached buildings, including two six-unit apartment buildings and one two-unit townhouse-style structure. The unit mix is highly desirable and includes two (2) three-bedroom, two-bath units with in-unit laundry, two (2) two-bedroom, one-bath townhouse-style units with in-unit laundry, and ten (10) two-bedroom, one-bath apartment units.
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Property Facts
| Price | $4,600,000 | Apartment Style | Low-Rise |
| Price Per Unit | $328,571 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.63 AC |
| Cap Rate | 5.42% | Building Size | 12,292 SF |
| Gross Rent Multiplier | 11.52 | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Apartment | Parking Ratio | 1.3/1,000 SF |
| Zoning | R-M - R-M (Multiple Residence District) | ||
| Price | $4,600,000 |
| Price Per Unit | $328,571 |
| Sale Type | Investment |
| Cap Rate | 5.42% |
| Gross Rent Multiplier | 11.52 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.63 AC |
| Building Size | 12,292 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1980 |
| Parking Ratio | 1.3/1,000 SF |
| Zoning | R-M - R-M (Multiple Residence District) |
Amenities
Site Amenities
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | $2,213 | 870 |
| 3+2 | 2 | $2,931 | 1,000 |
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Property Taxes
| Parcel Number | 684-38-075 | Improvements Assessment | $2,043,141 |
| Land Assessment | $1,322,031 | Total Assessment | $3,365,172 |
Property Taxes
Parcel Number
684-38-075
Land Assessment
$1,322,031
Improvements Assessment
$2,043,141
Total Assessment
$3,365,172
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5390 Carryback Ave
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