San Jose Sixteen-Unit Multifamily
For Sale
$4,475,000
2748 Kollmar Dr, San Jose, CA 95127
Sixteen-unit apartment community in San Jose with recent upgrades.
Property Size10,416 SF
Lot Size0.34 Acres
Price / SF$429.63
Days on Market203
Property Features for 2748 Kollmar Dr
General Information
Standard status
Active
Size
10,416 SF
Lot size
0.34 Acres
Property subtype
Multifamily
Occupancy
97%
Amenities
16 Unit Apartment Complex: Featuring 1-Bedroom & 2-Bedroom Units
Ample Parking: 16 Assigned Carport Spaces & Additional Uncovered Spaces
2025 Electrical Upgrades: New Electrical Disconnects, New Main Panels, and Brand-New Electrical Panels in Every Unit
On-Site Laundry Facility with Laundry Appliances Included in the Sale
Recent Capital Improvements: New LED Lighting in Rear Alleyways and Fresh Paint in Common Areas and Front Exterior
Building Details
Building Size
10,416 SF
Units
16
Listing Agency:
Palo Alto Office
(650) 391-1700
Listed By:
Mitch Zurich · License #CA: 01870648
(650) 391-1824
Source:
Marcusmillichap
Added: Apr 3
Changed: Oct 21
Last Checked: Oct 20 at 5:03PM
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 Palo Alto Office
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Investment Insights
Based on property information with market context.
The property at 2748 Kollmar Drive, San Jose, is a sixteen-unit apartment community. It features a unit mix of seven 1-bedroom x 1-bathroom units and nine 2-bedroom x 1-bathroom units. The building has approximately 10,416 square feet of rentable living space on a 15,000 square foot lot. There are sixteen covered carport parking spaces, one for each unit, along with four additional uncovered parking spaces. Residents have access to a shared on-site laundry room, with all laundry appliances included in the sale. In 2025, the property's electrical systems were upgraded, including new electrical disconnects, new primary electrical panels for the building, and new electrical panels in every unit, ensuring there are no Zinsco panels remaining. Additional improvements include new LED lighting in the rear alleyways as well as fresh paint in the common areas and on the front exterior of the building. The property is positioned to benefit from the strong rental demand and economic fundamentals of the San Jose market.
Key Highlights
- 16‑unit apartment community in San Jose.
- Desirable unit mix: seven 1‑Bed/1‑Bath and nine 2‑Bed/1‑Bath units.
- Recent electrical system upgrades in 2025: new disconnects, primary panels, and in‑unit panels (no Zinsco).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$197,575
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,951,500
$4.0M
Cap Rate 7%
$2,822,500
$2.8M
Cap Rate 9%
$2,195,278
$2.2M
Market Conditions
NOI Build-Up for 10,416 SF
Gross rent
$375.0K $36.00/SF
− Vacancy
−$15.7K −$1.51/SF
EGI
$359.2K $34.49/SF
− OpEx
−$161.7K −$15.52/SF
NOI
$197.6K $18.97/SF
Area
ZIP 95127
Vacancy
4.20%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,951,500
Cap Rate 7%
$2,822,500
Cap Rate 9%
$2,195,278
Alternative Uses
Best Use
Apartment 5plus
$2.82M
$2.47M – $3.29M
NOI $197,575 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.25M
$5.47M – $7.30M
NOI $437,723 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
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Business Placement
Demographics for 95127, CA
63,749
Population
16,823
Households
3.8
Avg Household Size
37
Median Age
27%
College-Educated
73%
High-School Grad
19.0 sq mi
ZIP Area
3,355
Density / Sq Mi
$120,548
Median Household Income
$45,348
Median Earnings
$2,549
Median Rent
$995,100
Median Home Value
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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 - Sixteen-unit apartment community in San Jose with recent upgrades.
Where is this apartment building located?
The property is located at 2748 Kollmar Dr San Jose, CA.
What is the asking price?
The asking price for this property is $4,475,000.
What are key features of this property?
This property features: 16‑unit apartment community in San Jose.; Desirable unit mix: seven 1‑Bed/1‑Bath and nine 2‑Bed/1‑Bath units.; Recent electrical system upgrades in 2025: new disconnects, primary panels, and in‑unit panels (no Zinsco).
