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580 Stoney Ct 11 Unit Apartment Building $3,575,000 ($325,000/Unit) 6.04% Cap Rate Gilroy, CA 95020
Investment Highlights
- Quiet are off E. 6th street, Gilroy
Executive Summary
Finally, an income property hath has been taken care of and then makes sense for an investor. Well maintained over the years. Tenants are long term with some over 20 years. That tells you alot ;about the owners!! All two bedroom one bath. At the end of the court makes for very little traffic and keeps the neighborhood noise to a minimum. The units are very clean and neat this is definitely what investment properties should look like...Pride of Ownership. Please, make offer subject to inspection and do not bother the tenants. This is a great cap rate, using the property tax on sales price. Another GREAT FEATURE is each unit has their own hot water heater, which means owner does not pay to heat their water!!Thank you!
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$312,000
|
$35.13
|
| Other Income |
$2,500
|
$0.28
|
| Vacancy Loss |
$6,200
|
$0.70
|
| Effective Gross Income |
$308,300
|
$34.71
|
| Taxes |
$42,900
|
$4.83
|
| Operating Expenses |
$49,400
|
$5.56
|
| Total Expenses |
$92,300
|
$10.39
|
| Net Operating Income |
$216,000
|
$24.32
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $312,000 |
| Annual Per SF | $35.13 |
| Other Income | |
|---|---|
| Annual | $2,500 |
| Annual Per SF | $0.28 |
| Vacancy Loss | |
|---|---|
| Annual | $6,200 |
| Annual Per SF | $0.70 |
| Effective Gross Income | |
|---|---|
| Annual | $308,300 |
| Annual Per SF | $34.71 |
| Taxes | |
|---|---|
| Annual | $42,900 |
| Annual Per SF | $4.83 |
| Operating Expenses | |
|---|---|
| Annual | $49,400 |
| Annual Per SF | $5.56 |
| Total Expenses | |
|---|---|
| Annual | $92,300 |
| Annual Per SF | $10.39 |
| Net Operating Income | |
|---|---|
| Annual | $216,000 |
| Annual Per SF | $24.32 |
Property Facts
| Price | $3,575,000 | Building Class | C |
| Price Per Unit | $325,000 | Lot Size | 0.53 AC |
| Sale Type | Investment | Building Size | 8,882 SF |
| Cap Rate | 6.04% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.37 | No. Stories | 2 |
| No. Units | 11 | Year Built | 1980 |
| Property Type | Multifamily | Parking Ratio | 2.25/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R3 | ||
| Price | $3,575,000 |
| Price Per Unit | $325,000 |
| Sale Type | Investment |
| Cap Rate | 6.04% |
| Gross Rent Multiplier | 11.37 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.53 AC |
| Building Size | 8,882 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1980 |
| Parking Ratio | 2.25/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 11 | $2,475 | 750 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 841-10-054 | Total Assessment | $1,181,764 |
| Land Assessment | $403,453 | Annual Taxes | $42,900 ($4.83/SF) |
| Improvements Assessment | $778,311 | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
841-10-054
Land Assessment
$403,453
Improvements Assessment
$778,311
Total Assessment
$1,181,764
Annual Taxes
$42,900 ($4.83/SF)
Tax Year
2025 Payable 2025
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580 Stoney Ct
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