Multifamily Property with Multiple
128 7th Street San Jose, CA 95112
128 7th Street, San Jose, CA, 95112
$2,250,000
For Sale
$2,250,000
Ten units are spread across four wood residential structures on two contiguous lots with rear parking.
Property Size4,475 SF
Lot Size0.35 Acres
Price / SF$502.79
Days on Market154
Property Features for 128 7th Street
General Information
- Standard status
- Active
- Size
- 4,475 SF
- Lot size
- 0.35 Acres
- Property subtype
- General Commercial
Building Details
- Year Built
- 1898
Listing agency
SiliconValley MultiFamilyGroup
(408) 356-1900
Listed by
Michael Shields · License #01327546
Source
Xome
Added: Feb 17 Updated: Jul 21 at 2:58AM Checked: Jul 21 at 2:58AM
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 SiliconValley MultiFamilyGroup
Investment Insights
Based on property information with market context.
This for-sale multifamily property includes four separate wood residential structures totaling 5,873 SF across two contiguous parcels. The asset has 10 total units consisting of two 1BR/1BA units and one 2BR/1BA unit at 126 N 7th Street (triplex), one 3BR/1BA unit at 128 N 7th Street, two 1BR/1BA units at 130 N 7th Street (duplex), and four 1BR/1BA units across 132, 132-A, 134, and 136 N 7th Street (fourplex). The wood structures require some repair work, and the offering notes the possibility of an ADU alongside remodeling of the older units.
The parcels are located in the Horace Mann neighborhood of North Downtown San Jose, described as two blocks from San Jose State University and two blocks from City Hall. There is ample parking in the rear, with unpaved parking and driveway areas partially covered in gravel.
The property is zoned Residential Neighborhood in the San Jose 2040 General Plan, and the structures are legal, non-conforming.
The parcels are located in the Horace Mann neighborhood of North Downtown San Jose, described as two blocks from San Jose State University and two blocks from City Hall. There is ample parking in the rear, with unpaved parking and driveway areas partially covered in gravel.
The property is zoned Residential Neighborhood in the San Jose 2040 General Plan, and the structures are legal, non-conforming.
Key Highlights
- 10 total units across four wood residential structures on two contiguous lots
- Total building size is 5,873 SF with parcels totaling 15,420 SF
- Unit mix includes 2x 2BR/1BA, 1x 3BR/1BA, and 7x 1BR/1BA units across triplex, single‑family, duplex, and fourplex structures
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 | $150.4k | $33.60 |
| − Vacancy | −$6.4k | −$1.43 |
| EGI | $143.9k | $32.17 |
| − OpEx | −$43.2k | −$9.65 |
| NOI | $100.8k | $22.52 |
4,475 SF · lease $33.60/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.44M
$1.26M – $1.68M
NOI $100,758 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $93,080 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$2.70M
$2.36M – $3.15M
NOI $189,181 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Ten units are spread across four wood residential structures on two contiguous lots with rear parking.
Where is this apartment building located?
The property is located at 128 7th Street San Jose, CA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 10 total units across four wood residential structures on two contiguous lots; Total building size is 5,873 SF with parcels totaling 15,420 SF; Unit mix includes 2x 2BR/1BA, 1x 3BR/1BA, and 7x 1BR/1BA units across triplex, single‑family, duplex, and fourplex structures
