Mixed-Use Triplex with
111 5th Street Gilroy, CA 95020
New
111 5th Street, Gilroy, CA, 95020
$999,000
For Sale
$999,000
Triplex with flexible transitional zoning, including an office-capable layout, sun porches, and an on-site permitted secondary dwelling unit.
Property Size2,088 SF
Price / SF$478.45
Days on Market5
Property Features for 111 5th Street
General Information
- Standard status
- Active
- Size
- 2,088 SF
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1920
Listing Agency
Christie's International Real Estate Sereno
(408) 710-2259
Listed by
Patty Filice · License #00887012
(408) 710-2259
Source
Exitrealty
Added: Jul 17 Updated: Jul 20 at 2:28 am Checked: Jul 20 at 2:28 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Christie's International Real Estate Sereno
Investment Insights
Based on property information with market context.
This for-sale triplex offers flexible space that can be configured for commercial and/or residential use. The main structure includes a spacious main room with a fireplace, two secondary rooms, and two sun porches, along with a kitchen, laundry area, and bath that support office or residential use. A ramp provides easy access to the back entrance of the main home.
The upstairs unit can be accessed either from the interior of the ground-floor unit below or via a separate exterior entrance, and includes a kitchen, bath, main room, and secondary room. In addition, the original garage has been converted to a permitted secondary dwelling unit with one parking space.
Recent improvements include a newer roof and fresh paint in the main home, and a redone interior in the secondary dwelling unit. The property is described as located in Gilroy within a Transitional District zoning designation, which the seller notes allows for flexibility in use.
The upstairs unit can be accessed either from the interior of the ground-floor unit below or via a separate exterior entrance, and includes a kitchen, bath, main room, and secondary room. In addition, the original garage has been converted to a permitted secondary dwelling unit with one parking space.
Recent improvements include a newer roof and fresh paint in the main home, and a redone interior in the secondary dwelling unit. The property is described as located in Gilroy within a Transitional District zoning designation, which the seller notes allows for flexibility in use.
Key Highlights
- Triplex with flexible Transitional District zoning for commercial, residential, or a combination
- Main structure (built 1920) offers a spacious main room with fireplace plus two secondary rooms and two sun porches
- Includes kitchen, laundry area, and bath, suitable for office or residential use
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $117.0k | $56.04 |
| − Vacancy | −$19.1k | −$9.13 |
| EGI | $97.9k | $46.91 |
| − OpEx | −$24.5k | −$11.73 |
| NOI | $73.5k | $35.18 |
2,088 SF · lease $56.04/SF/yr · vacancy 16.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.05M
$918.2K – $1.22M
NOI $73,454 @ 7.0% cap · market cap 7.35%
Second Best
Multifamily LT 5
$664.9K
$581.8K – $775.8K
NOI $46,546 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,239 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Learning Ladder, Inc
Charitable Organization
Jessen-Menke House
Tour Operator
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Triplex with flexible transitional zoning, including an office-capable layout, sun porches, and an on-site permitted secondary dwelling unit.
Where is this triplex located?
The property is located at 111 5th Street Gilroy, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Triplex with flexible Transitional District zoning for commercial, residential, or a combination; Main structure (built 1920) offers a spacious main room with fireplace plus two secondary rooms and two sun porches; Includes kitchen, laundry area, and bath, suitable for office or residential use
