5-Unit Multifamily Investment
1451 N 1st St San Jose, CA 95112
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For Sale
Contact for pricing
Centrally located five-unit building with updated interiors, private covered carport parking, and on-site laundry facilities.
Property Size3,152 SF
Lot Size0.13 Acres
Price / SF$499.68
Days on Market5
Property Features for 1451 N 1st St
General Information
- Standard status
- Active
- Size
- 3,152 SF
- Lot size
- 0.13 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1953
Listing Agency:
Marcus & Millichap - Palo Alto
(650) 391-1700
Listed By:
Robert Johnston · License #01853816
Source:
Crexi
Added: Jul 20
Changed: Jul 23
Last Checked: Jul 23 at 6:54AM
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 Marcus & Millichap - Palo Alto
Investment Insights
Based on property information with market context.
This centrally located five-unit multifamily property was originally constructed in 1953 and is configured with one-bedroom, two-bedroom, and studio floor plans. Apartment interiors have been updated with dual pane windows, upgraded electrical panels, and individual water heaters. Select units include vinyl plank flooring, granite countertops, and stainless steel appliances. Residents also benefit from private covered carport parking and an on-site laundry facility.
The property is near Downtown San Jose and the Target-anchored San Jose Market Center, and it offers convenient access to San Jose Mineta International Airport (SJC). It is also located near San Jose State University and Santa Clara University.
With its mix of studio and one- and two-bedroom units, the building provides a range of rental layouts while maintaining core community amenities including covered parking and on-site laundry.
The property is near Downtown San Jose and the Target-anchored San Jose Market Center, and it offers convenient access to San Jose Mineta International Airport (SJC). It is also located near San Jose State University and Santa Clara University.
With its mix of studio and one- and two-bedroom units, the building provides a range of rental layouts while maintaining core community amenities including covered parking and on-site laundry.
Key Highlights
- 5‑unit multifamily property built in 1953 on a 5,522 SF parcel with approx. 3,175 SF gross building area
- Updated unit interiors include dual pane windows, upgraded electrical panels, and individual water heaters
- Unit mix includes two‑bedroom, one‑bedroom, and studio floor plans
Financial Insights For Apartment 5plus
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 | $124.8k | $39.60 |
| − Vacancy | −$5.6k | −$1.78 |
| EGI | $119.2k | $37.82 |
| − OpEx | −$53.6k | −$17.02 |
| NOI | $65.6k | $20.80 |
3,152 SF · lease $39.60/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$936.6K
$819.5K – $1.09M
NOI $65,561 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.67M – $2.22M
NOI $133,251 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Centrally located five-unit building with updated interiors, private covered carport parking, and on-site laundry facilities.
Where is this apartment building located?
The property is located at 1451 N 1st St San Jose, CA.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: 5‑unit multifamily property built in 1953 on a 5,522 SF parcel with approx. 3,175 SF gross building area; Updated unit interiors include dual pane windows, upgraded electrical panels, and individual water heaters; Unit mix includes two‑bedroom, one‑bedroom, and studio floor plans
