Remodeled 4-Unit Apartment
For Sale
$2,150,000
2965 Walgrove Way, San Jose, CA 95128
ResidentialIncome, SanJose, CA
Property Size3,973 SF
Lot Size0.22 Acres
Price / SF$541.15
Days on Market42
Property Features for 2965 Walgrove Way
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM
Parking
6
Parking features
Carport, Guest, Assigned
Appliances
Dishwasher, ExhaustFan, GarbageDisposal, Microwave, OvenRangeElectric, Refrigerator
Elementary school
CampbellUnionElementary
Middle school
MonroeMiddle
High school
CampbellUnionHigh
Elementary school district
CampbellUnionElementary
High school district
CampbellUnionHigh
Directions
Between Winchester Blvd & Greenbriar Ave
Subdivision
Campbell
Standard status
Active
APN
279-14-002
Size
3,973 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Annual Amount
28378
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
on-site laundry
Building Details
Year built
1968
Floors in Building
2
Number of units
4
Flooring type
Laminate, Carpet
Roof type
Composition
Listing Agency:
SiliconValley MultiFamilyGroup
Listed By:
Michael Shields · License #01327546
(408) 356-1900
Added: Sep 10
Changed: Oct 21
Last Checked: Oct 21 at 8:06AM
MLS# ML82060188
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This RM-zoned apartment property contains four remodeled residences totaling 3,973 square feet: one 3-bedroom, 2-bath unit, two 2-bedroom, 1.5-bath units, and one 1-bedroom, 1-bath unit. Updated kitchens include modern appliances, and the bathrooms have also been renovated. Central air and heat serve three units; the remaining residence has a mini-split heating and cooling system. Building improvements include double-pane windows, copper plumbing, low-flow toilets, drought-tolerant landscaping with drip irrigation, and a water heater with a recirculating hot water pump. The elevated walkways have been inspected and meet SB-721 requirements.
The 0.2212-acre site provides 12 parking spaces: a two-car garage, four carports, and six uncovered spaces. An on-site laundry room includes a washer and dryer that transfer with the sale. The property is in West San Jose, minutes from Santana Row and Westfield Valley Fair, with access to major freeways and a light rail station.
The 0.2212-acre site provides 12 parking spaces: a two-car garage, four carports, and six uncovered spaces. An on-site laundry room includes a washer and dryer that transfer with the sale. The property is in West San Jose, minutes from Santana Row and Westfield Valley Fair, with access to major freeways and a light rail station.
Key Highlights
- Four units totaling 3,973 square feet, with a 3‑bedroom, 2‑bath unit, two 2‑bedroom, 1.5‑bath units, and a 1‑bedroom, 1‑bath unit
- All four residences have been remodeled, including updated kitchens and bathrooms
- 12 parking spaces: two‑car garage, 4 carports, and 6 uncovered spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,455
Cap Rate
4.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,789,100
$1.8M
Cap Rate 7%
$1,277,929
$1.3M
Cap Rate 9%
$993,944
$993.9K
Market Conditions
NOI Build-Up for 3,973 SF
Gross rent
$133.5K $33.60/SF
− Vacancy
−$5.7K −$1.43/SF
EGI
$127.8K $32.17/SF
− OpEx
−$38.3K −$9.65/SF
NOI
$89.5K $22.52/SF
Area
San Jose, CA
Vacancy
4.27%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,789,100
Cap Rate 7%
$1,277,929
Cap Rate 9%
$993,944
Alternative Uses
Best Use
Multifamily LT 5
$1.28M
$1.12M – $1.49M
NOI $89,455 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$1.18M
$1.03M – $1.38M
NOI $82,638 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,959 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,052
Businesses Nearby
Explore this area
Business Placement
Demographics for 95128, CA
34,776
Population
15,193
Households
2.3
Avg Household Size
38
Median Age
52%
College-Educated
90%
High-School Grad
3.9 sq mi
ZIP Area
8,917
Density / Sq Mi
$122,647
Median Household Income
$71,504
Median Earnings
$2,505
Median Rent
$1,214,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - A varied unit mix, on-site laundry, and 12 parking spaces support residential rental operations.
Where is this quadplex located?
The property is located at 2965 Walgrove Way 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: Four units totaling 3,973 square feet, with a 3‑bedroom, 2‑bath unit, two 2‑bedroom, 1.5‑bath units, and a 1‑bedroom, 1‑bath unit; All four residences have been remodeled, including updated kitchens and bathrooms; 12 parking spaces: two‑car garage, 4 carports, and 6 uncovered spaces
