8-Unit Apartment
For Sale
Contact for pricing
164 E Reed Street, San Jose, CA 95112
Eight one-bedroom, one-bath apartments occupy a compact residential building with an established layout.
Property Size5,353 SF
Price / SF$334.02
Days on Market50
Property Features for 164 E Reed Street
General Information
Standard status
Active
Size
5,353 SF
Property subtype
Multifamily
Investment Type
Value Add
Building Details
Year Built
1963
Units
8
Tenancy
Multi
Listing Agency:
Meacham Oppenheimer
Listed By:
keon vossoughi · License #CA #01019117
Source:
Crexi
Added: Aug 31
Changed: Oct 8
Last Checked: Oct 16 at 7:52AM
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 Meacham Oppenheimer
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Investment Insights
Based on property information with market context.
Located at 164 E. Reed Street in San Jose, this 5,353± SF apartment property contains eight one-bedroom, one-bath units. Built in 1963, the building provides a defined multifamily configuration within a 5,397± SF property.
A separate property at 91 W. Reed Street is also available and may be acquired together with this asset as a portfolio. The two-property offering creates an opportunity to evaluate nearby residential holdings together while maintaining distinct property addresses.
A separate property at 91 W. Reed Street is also available and may be acquired together with this asset as a portfolio. The two-property offering creates an opportunity to evaluate nearby residential holdings together while maintaining distinct property addresses.
Key Highlights
- Eight 1bd/1ba apartment units
- 5,353± SF building
- 5,397± SF property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$111,342
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,226,840
$2.2M
Cap Rate 7%
$1,590,600
$1.6M
Cap Rate 9%
$1,237,133
$1.2M
Market Conditions
NOI Build-Up for 5,353 SF
Gross rent
$212.0K $39.60/SF
− Vacancy
−$9.5K −$1.78/SF
EGI
$202.4K $37.82/SF
− OpEx
−$91.1K −$17.02/SF
NOI
$111.3K $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 Rate 5%
$2,226,840
Cap Rate 7%
$1,590,600
Cap Rate 9%
$1,237,133
Alternative Uses
Best Use
Apartment 5plus
$1.59M
$1.39M – $1.86M
NOI $111,342 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.23M
$2.83M – $3.77M
NOI $226,299 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,600
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight one-bedroom, one-bath apartments occupy a compact residential building with an established layout.
Where is this apartment building located?
The property is located at 164 E Reed Street San Jose, CA.
What is the asking price?
The asking price for this property is $1,788,000.
What are key features of this property?
This property features: Eight 1bd/1ba apartment units; 5,353± SF building; 5,397± SF property
