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Proforma 8% cap 729 Forestdale Ave 6 Unit Apartment Building $1,495,000 ($249,167/Unit) 5.45% Cap Rate San Jose, CA 95116
Investment Highlights
- Recent 2026 improvements include exterior renovations, plumbing repairs, new decking, and a renovated laundry facility.
- Located near Downtown San Jose with convenient access to Highways 680 and 101.
- Positioned within a growing Downtown San Jose submarket near shopping, employment centers, and local amenities.
- City of San Jose inspections were completed, corrected, and passed in 2026.
- Six one-bedroom apartment homes with onsite laundry and tenant-paid PG&E service.
- Current income provides potential upside through rent growth and operational enhancements.
Executive Summary
The Downtown SJ Six-Plex at 749 Forestdale Avenue presents an exceptional value-add multifamily investment opportunity in the heart of San Jose. The property consists of six spacious one-bedroom, one-bathroom apartments totaling approximately 4,200 square feet on a 5,610-square-foot parcel. Recent 2026 capital improvements include exterior renovations, plumbing repairs, newly constructed decking, a renovated laundry facility, and completion of all required City of San Jose inspections. Ideally located minutes from Downtown San Jose, Highways 680 and 101, shopping, and major employment centers, the property benefits from strong rental demand and excellent long-term fundamentals. Current annual rental income of approximately $112,480 offers substantial upside to an estimated market income of over $158,000 through continued rent growth and operational improvements. Offered at $1,495,000, the asset features a projected pro forma capitalization rate of approximately 8.06%, providing investors with a rare opportunity to acquire a well-maintained property offering both stable in-place cash flow and significant future appreciation potential.
Property Facts
| Price | $1,495,000 | Apartment Style | Low-Rise |
| Price Per Unit | $249,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 5.45% | Building Size | 4,200 SF |
| Gross Rent Multiplier | 12.02 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1960 |
| Property Type | Multifamily | Parking Ratio | 0.71/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3 - Permits low-density multifamily residential development, including single-family homes, duplexes, triplexes, fourplexes, and similar residential uses. | ||
| Price | $1,495,000 |
| Price Per Unit | $249,167 |
| Sale Type | Investment |
| Cap Rate | 5.45% |
| Gross Rent Multiplier | 12.02 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 4,200 SF |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 0.71/1,000 SF |
| Zoning | R3 - Permits low-density multifamily residential development, including single-family homes, duplexes, triplexes, fourplexes, and similar residential uses. |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Family Room
- Handrails
Site Amenities
- Laundry Facilities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,731 | 700 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
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