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770 Opal Dr
San Jose, CA 95117
Multifamily Property For Sale
·
3 Units
Investment Highlights
- 1. Situated in the Heart of West San Jose – Lynhaven Neighborhood
- 3. Minutes to Santa Row, Westfield Valley Fair, Downtown Campbell, and Downtown San Jose
- 5. Below-Market Rents with Approximately 9% Rental Upside Potential
- 2. All Units Are Spacious Two-Bedroom / One-Bath Residences
- 4. Approximately 4.2 Miles to Apple Park, Cupertino
- 6. Convenient Access to Interstate 280, Highway 17, and Stevens Creek Boulevard
Executive Summary
BCG Multifamily is pleased to present 770 Opal Drive, a well-maintained three-unit apartment community located in the highly desirable Lynhaven neighborhood of West San Jose. Situated on a 7,200 square foot parcel and originally constructed in 1959, the property encompasses approximately 2,134 square feet and features an attractive unit mix of three spacious two-bedroom/one-bathroom residences averaging approximately 711 square feet per unit. The property offers investors the opportunity to acquire a stable, income-producing asset in one of Silicon Valley's most supply-constrained rental markets, while benefiting from future rental growth through the repositioning of below-market rents.
The property currently generates approximately $7,790 in monthly gross rental income and benefits from approximately 9% rental upside. Residents are attracted to the property's spacious floorplans, private outdoor areas, covered parking, and convenient West San Jose location. Each residence enjoys dedicated outdoor space, including private balconies for the upper units and a backyard area for the ground-floor unit, creating a residential atmosphere that is increasingly difficult to find in today's multifamily inventory. Additional amenities include tuck-under covered parking, on-site laundry facilities, and individually metered gas and electric service, helping reduce ownership expenses while promoting long-term tenant retention.
Ideally positioned between Santana Row, Westfield Valley Fair, Downtown Campbell, and Downtown San Jose, 770 Opal Drive offers residents immediate access to some of Silicon Valley's most desirable shopping, dining, and entertainment destinations. The property is located slightly over 4 miles from Apple Park and enjoys convenient access to Interstate 280, Highway 17, Stevens Creek Boulevard, and San Tomas Expressway, providing seamless connectivity to major employers including Apple, NVIDIA, Google, Adobe, Cisco, eBay, and PayPal. With limited new multifamily development opportunities throughout West San Jose and continued demand from highly compensated technology professionals, 770 Opal Drive represents a compelling opportunity to acquire a well-located asset positioned for long-term appreciation and stable cash flow growth.
The property currently generates approximately $7,790 in monthly gross rental income and benefits from approximately 9% rental upside. Residents are attracted to the property's spacious floorplans, private outdoor areas, covered parking, and convenient West San Jose location. Each residence enjoys dedicated outdoor space, including private balconies for the upper units and a backyard area for the ground-floor unit, creating a residential atmosphere that is increasingly difficult to find in today's multifamily inventory. Additional amenities include tuck-under covered parking, on-site laundry facilities, and individually metered gas and electric service, helping reduce ownership expenses while promoting long-term tenant retention.
Ideally positioned between Santana Row, Westfield Valley Fair, Downtown Campbell, and Downtown San Jose, 770 Opal Drive offers residents immediate access to some of Silicon Valley's most desirable shopping, dining, and entertainment destinations. The property is located slightly over 4 miles from Apple Park and enjoys convenient access to Interstate 280, Highway 17, Stevens Creek Boulevard, and San Tomas Expressway, providing seamless connectivity to major employers including Apple, NVIDIA, Google, Adobe, Cisco, eBay, and PayPal. With limited new multifamily development opportunities throughout West San Jose and continued demand from highly compensated technology professionals, 770 Opal Drive represents a compelling opportunity to acquire a well-located asset positioned for long-term appreciation and stable cash flow growth.
Property Facts
| Price Per Unit | $498,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 3.91% | Building Size | 4,826 SF |
| Gross Rent Multiplier | 15.99 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 1.04/1,000 SF |
| Zoning | R3 | ||
| Price Per Unit | $498,333 |
| Sale Type | Investment |
| Cap Rate | 3.91% |
| Gross Rent Multiplier | 15.99 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,826 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 1.04/1,000 SF |
| Zoning | R3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | $2,596 | 750 |
Property Taxes
| Parcel Number | 299-43-064 | Improvements Assessment | $317,727 |
| Land Assessment | $153,107 | Total Assessment | $470,834 |
Property Taxes
Parcel Number
299-43-064
Land Assessment
$153,107
Improvements Assessment
$317,727
Total Assessment
$470,834
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