Six-Unit Apartment
For Sale
$2,150,000
431 E Saint John St, San Jose, CA 95112
Six residential units offer varied layouts, carport parking, and coin-operated laundry near downtown San Jose.
Property Size5,069 SF
Price / SF$424.15
Days on Market15
Property Features for 431 E Saint John St
General Information
Standard status
Active
Size
5,069 SF
Property subtype
Multi-Family
Building Details
Year Built
1963
Listing Agency:
Anet Investments
(650) 862-8088
Listed By:
Byron Tseng
Source:
Homeisv
Added: Aug 18
Changed: Aug 31
Last Checked: Aug 31 at 6:52PM
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 Anet Investments
Investment Insights
Based on property information with market context.
Built in 1963, this 5,069-square-foot apartment property at 431 E Saint John St comprises six units: one three-bedroom/two-bath unit, three two-bedroom/one-bath units, and two one-bedroom/one-bath units. Kitchens include ovens, ranges, refrigerators, garbage disposals, exhaust fans, and a mix of granite, Formica, and Corian countertop surfaces. Interior finishes include carpet, hardwood, laminate, tile, and vinyl/linoleum flooring. Additional features include walk-in closets, double-pane windows, low-flow plumbing fixtures, thermostat controls, central forced-air gas heat, and gas wall furnaces. Coin-operated laundry and six carport spaces serve the property.
The building is in downtown San Jose near Japantown and is located two blocks from San Jose State University, the SAP Center, and SJC International Airport. Adobe, Zoom Video Communications, Wrike & Sage Intacct, Santa Clara County, the City of San Jose, and SJSU are identified among nearby major employers.
The building is in downtown San Jose near Japantown and is located two blocks from San Jose State University, the SAP Center, and SJC International Airport. Adobe, Zoom Video Communications, Wrike & Sage Intacct, Santa Clara County, the City of San Jose, and SJSU are identified among nearby major employers.
Key Highlights
- Six units with one 3 bed/2 bath, three 2 bed/1 bath, and two 1 bed/1 bath residences
- 5,069 SF apartment building constructed in 1963
- Six carport parking spaces and coin‑operated laundry
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$105,435
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,108,700
$2.1M
Cap Rate 7%
$1,506,214
$1.5M
Cap Rate 9%
$1,171,500
$1.2M
Market Conditions
NOI Build-Up for 5,069 SF
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.
Gross rent
$200.7K $39.60/SF
− Vacancy
−$9.0K −$1.78/SF
EGI
$191.7K $37.82/SF
− OpEx
−$86.3K −$17.02/SF
NOI
$105.4K $20.80/SF
Area
San Jose, CA
Vacancy
4.50%
Lease Rate
$39.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,108,700
Cap Rate 7%
$1,506,214
Cap Rate 9%
$1,171,500
Alternative Uses
Best Use
Apartment 5plus
$1.51M
$1.32M – $1.76M
NOI $105,435 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,293 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,672
Businesses Nearby
Explore this area
Business Placement
Demographics for 95112, CA
60,754
Population
22,969
Households
2.6
Avg Household Size
33
Median Age
39%
College-Educated
82%
High-School Grad
7.3 sq mi
ZIP Area
8,322
Density / Sq Mi
$89,649
Median Household Income
$45,690
Median Earnings
$2,095
Median Rent
$956,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six residential units offer varied layouts, carport parking, and coin-operated laundry near downtown San Jose.
Where is this apartment building located?
The property is located at 431 E Saint John St San Jose, CA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Six units with one 3 bed/2 bath, three 2 bed/1 bath, and two 1 bed/1 bath residences; 5,069 SF apartment building constructed in 1963; Six carport parking spaces and coin‑operated laundry
