Log In/Sign Up
Your email has been sent.
Zavala 982-998 The Alameda 11 Unit Apartment Building $3,895,000 ($354,091/Unit) 5.64% Cap Rate San Jose, CA 95126
Executive Summary
CBRE, as exclusive listing agent, is pleased to present the opportunity to own 982-998 The Alameda in San Jose.
The Property has been owned by the same family for 50+ years and boasts seven residential units and four ground floor retail units. The residential units are very large and consist of (4) Studios and (3) 1 Bed, 1 Bath floorplans. The retail spaces have all been improved by the tenants, and all tenants are operating successful businesses and have been at the property for 5+ years.
Additionally, all units and the property systems have been well-maintained over the years and select units feature upgraded kitchens, countertops, cabinets, and bathrooms. Ownership has spent over $50,000 on capital improvements in 2025, which include but are not limited to: roof, two new water heaters, electrical subpanels, etc...
This property presents an excellent value add opportunity through adjusting the full-service leases to NNN leases upon lease expiration, which will roughly capture a 35% rental premium to the in-place leases.
Please contact the CBRE Listing Team for additional information or to schedule a property tour.
The Property has been owned by the same family for 50+ years and boasts seven residential units and four ground floor retail units. The residential units are very large and consist of (4) Studios and (3) 1 Bed, 1 Bath floorplans. The retail spaces have all been improved by the tenants, and all tenants are operating successful businesses and have been at the property for 5+ years.
Additionally, all units and the property systems have been well-maintained over the years and select units feature upgraded kitchens, countertops, cabinets, and bathrooms. Ownership has spent over $50,000 on capital improvements in 2025, which include but are not limited to: roof, two new water heaters, electrical subpanels, etc...
This property presents an excellent value add opportunity through adjusting the full-service leases to NNN leases upon lease expiration, which will roughly capture a 35% rental premium to the in-place leases.
Please contact the CBRE Listing Team for additional information or to schedule a property tour.
Property Facts
| Price | $3,895,000 | Building Class | C |
| Price Per Unit | $354,091 | Lot Size | 0.24 AC |
| Sale Type | Investment | Building Size | 9,148 SF |
| Cap Rate | 5.64% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.1 | No. Stories | 2 |
| No. Units | 11 | Year Built | 1924 |
| Property Type | Multifamily | Parking Ratio | 1.09/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | CG | ||
| Price | $3,895,000 |
| Price Per Unit | $354,091 |
| Sale Type | Investment |
| Cap Rate | 5.64% |
| Gross Rent Multiplier | 11.1 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 9,148 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1924 |
| Parking Ratio | 1.09/1,000 SF |
| Zoning | CG |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 535 |
| 1+1 | 3 | - | 765 |
1 1
Walk Score®
Walker's Paradise (95)
Bike Score®
Very Bikeable (87)
Property Taxes
| Parcel Number | 261-30-054 | Improvements Assessment | $1,075,287 |
| Land Assessment | $487,907 | Total Assessment | $1,563,194 |
Property Taxes
Parcel Number
261-30-054
Land Assessment
$487,907
Improvements Assessment
$1,075,287
Total Assessment
$1,563,194
1 of 48
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Zavala | 982-998 The Alameda
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.