Four-Unit Apartment
502 N 18th St San Jose, CA 95112
502 N 18th St, San Jose, CA, 95112
$1,900,000
For Sale
$1,900,000
Four-unit apartment complex with two duplex buildings and in-unit washer/dryer hook ups.
Property Size4,308 SF
Lot Size0.25 Acres
Price / SF$441.04
Days on Market35
Property Features for 502 N 18th St
General Information
- Standard status
- Active
- Size
- 4,308 SF
- Lot size
- 0.25 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1971
Listing agency
(650) 269-6453
Listed by
Michael Henshaw
(650) 269-6453
Source
Elliman
Added: Jun 17 Updated: Jul 20 at 8:11PM Checked: Jul 21 at 8:05AM
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 Michael Henshaw
Investment Insights
Based on property information with market context.
North 18th Flats is a four-unit apartment complex consisting of two duplex-style buildings at 502–508 N. 18th Street. The property includes four three-bedroom, one-bath units within a gross building area of approximately 4,308 square feet on a 0.25-acre parcel. Each unit is described as having modern appliances, upgraded windows, and washer/dryer hook ups.
The offering is presented with an in-place Cap Rate of 5.55 and a 13.01 GRM; the pro forma figures are provided as a 7.46% Cap Rate and 10.47 GRM. WalkScore is listed at 74 and transitScore at 59, with BikeScore reported at 91.
This configuration provides four separate residential units arranged across two duplex buildings, with in-unit laundry readiness and appliance package as reflected in the property remarks.
The offering is presented with an in-place Cap Rate of 5.55 and a 13.01 GRM; the pro forma figures are provided as a 7.46% Cap Rate and 10.47 GRM. WalkScore is listed at 74 and transitScore at 59, with BikeScore reported at 91.
This configuration provides four separate residential units arranged across two duplex buildings, with in-unit laundry readiness and appliance package as reflected in the property remarks.
Key Highlights
- Four‑unit apartment complex at 502–508 N. 18th Street, San Jose, CA
- Built in 1971 on a 0.25‑acre parcel with approximately 4,308 SF of gross building area
- Two duplex‑style buildings with four 3 bed/1 bath units (each about 1,077 SF)
Local Financial Insights For Multifamily LT 5
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 | $144.7k | $33.60 |
| − Vacancy | −$6.2k | −$1.43 |
| EGI | $138.6k | $32.17 |
| − OpEx | −$41.6k | −$9.65 |
| NOI | $97.0k | $22.52 |
4,308 SF · lease $33.60/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.39M
$1.21M – $1.62M
NOI $96,998 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$1.28M
$1.12M – $1.49M
NOI $89,606 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$2.60M
$2.28M – $3.04M
NOI $182,121 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-unit apartment complex with two duplex buildings and in-unit washer/dryer hook ups.
Where is this quadplex located?
The property is located at 502 N 18th St San Jose, CA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Four‑unit apartment complex at 502–508 N. 18th Street, San Jose, CA; Built in 1971 on a 0.25‑acre parcel with approximately 4,308 SF of gross building area; Two duplex‑style buildings with four 3 bed/1 bath units (each about 1,077 SF)
