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    Seven-Unit Apartment Building For Sale Title is generated by Realmo AI

    7001 Eigleberry Street, Gilroy, CA 95020

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    For Sale
    $2,700,000

    Well-maintained 7-unit apartment building with strong rental potential.

    Type:Commercial
    Property size:
    5,476 SF
    Price / SF:
    $493/SF
    Added:
    Mar 20, 2025
    Days on Market:
    442
    Last Refresh:
    Apr 5 at 8:24 pm

    Property Features for 7001 Eigleberry Street

    General Information

    Standard status
    Active
    Size
    5,476 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1981

    We can help!

    Listing Contact
    JODI BARR

    Listing agent JODI BARR

    Listing office J. BARR REALTY INC

    Listing date Mar 20, 2025

    Source Corcoran

    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 J. BARR REALTY INC

    HighLights

    • Meticulously maintained 7‑unit apartment complex with strong rental potential.
    • Prime, high‑visibility corner location.
    • Six 2‑bedroom units and one 1‑bedroom unit.
    • Each unit equipped with electric stove, refrigerator, microwave, dishwasher, garbage disposal, pantry, gas wall furnace, and in‑wall air conditioner.
    • Mandatory SB 721 Balcony Inspection and repairs completed, balcony permitted and finalized.
    • On‑site laundry room and extensive security camera coverage.

    Overview

    This well-maintained, owner-built and managed 7-unit apartment building features six 2-bedroom units and one 1-bedroom unit. Each unit includes an electric stove, refrigerator, microwave, dishwasher, garbage disposal, pantry, gas wall furnace, and in-wall air conditioner. The property also features an on-site laundry room with a coin-operated washer and dryer, and extensive security camera coverage. Mandatory SB 721 Balcony Inspection and repairs have been completed, and the balcony is permitted and finalized. The building has fire sprinklers. Located at the corner of Eigleberry and 10th Street, across from 7-Eleven, this property offers strong rental potential in a desirable location. The property size is 5476 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gilroy
    County
    Santa Clara
    State
    California
    Longitude
    -121.567
    Latitude
    37.0001

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained 7-unit apartment building with strong rental potential.
    Where is this apartment building located?
    The property is located at 7001 Eigleberry Street Gilroy, CA.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: Meticulously maintained 7‑unit apartment complex with strong rental potential.; Prime, high‑visibility corner location.; Six 2‑bedroom units and one 1‑bedroom unit.
    (408) 847-7300
    We can help!
    Listing Contact
    JODI BARR
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    7001 Eigleberry Street, GILROY, CA 95020
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