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Zavala 982-998 The Alameda 11 Unit Apartment Building $3,895,000 ($354,091/Unit) 5.80% 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.
Located on one of San Jose's most desirable and historic corridors, this mixed-use property offers an exceptional investment opportunity in the heart of The Alameda District. The property consists of four commercial storefronts and seven residential apartments, ideally situated in a vibrant neighborhood known for its walkability, charm, and strong tenant demand.
With a Walk Score® of 95 (Walkers Paradise) and a Bike Score® of 87 (Very Bikeable), tenants enjoy convenient access to Whole Foods, restaurants, coffee shops, shopping, entertainment, and everyday services. The property is also just minutes from Downtown San Jose, Diridon Station, Caltrain, SAP Center, and major transportation routes including Highways 280, 87, 880, and 101.
The Alameda continues to be one of San Jose's most sought-after neighborhoods, combining historic character with urban convenience. Residents and businesses alike benefit from the areas strong sense of community, mature tree-lined streets, and proximity to Silicon Valley employment centers. Additionally, ownership 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 is a rare opportunity to acquire a well-located mixed-use asset in one of San Jose's most established and desirable neighborhoods.
Please contact the CBRE Listing Team for additional information or to schedule a property tour.
Located on one of San Jose's most desirable and historic corridors, this mixed-use property offers an exceptional investment opportunity in the heart of The Alameda District. The property consists of four commercial storefronts and seven residential apartments, ideally situated in a vibrant neighborhood known for its walkability, charm, and strong tenant demand.
With a Walk Score® of 95 (Walkers Paradise) and a Bike Score® of 87 (Very Bikeable), tenants enjoy convenient access to Whole Foods, restaurants, coffee shops, shopping, entertainment, and everyday services. The property is also just minutes from Downtown San Jose, Diridon Station, Caltrain, SAP Center, and major transportation routes including Highways 280, 87, 880, and 101.
The Alameda continues to be one of San Jose's most sought-after neighborhoods, combining historic character with urban convenience. Residents and businesses alike benefit from the areas strong sense of community, mature tree-lined streets, and proximity to Silicon Valley employment centers. Additionally, ownership 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 is a rare opportunity to acquire a well-located mixed-use asset in one of San Jose's most established and desirable neighborhoods.
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 | 5.80% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.9 | 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 | 5.80% |
| Gross Rent Multiplier | 10.9 |
| 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 |
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Moderately walkable
60/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
60/100
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
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Zavala | 982-998 The Alameda