14-Unit Multifamily Apartment
3047 David Ave San Jose, CA 95128
3047 David Ave, San Jose, CA, 95128
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For Sale
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Garden-style 14-unit multifamily building with 10 one-bed and 4 two-bed units on a 13,200 sf parcel.
Property Size8,076 SF
Lot Size0.30 Acres
Price / SF$458.15
Days on Market101
Property Features for 3047 David Ave
General Information
- Standard status
- Active
- Size
- 8,076 SF
- Lot size
- 0.30 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1958
Listing agency
Marcus & Millichap - Palo Alto
(650) 391-1700
Listed by
Jimmy Castellanos · License #02024152
Source
Crexi
Added: Apr 13 Updated: Jul 22 at 6:31AM Checked: Jul 22 at 6:31AM
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.
3047 David Ave is a 14-unit multifamily apartment building built in 1958. The property includes approximately 8,076 square feet of rentable space and features a garden-style layout designed for straightforward operations. The unit mix consists of ten one-bedroom, one-bath apartments and four two-bedroom, one-bath apartments.
The property is located in San Jose, positioned between Historic Downtown Campbell and Santana Row. The area offers access to dining, retail, and entertainment, with connectivity via Highways 280, 880, and 17. Major tech employers are reported within 3 to 5 miles, including Adobe, eBay, PayPal, Zoom, Western Digital, and Nutanix.
The property is located in San Jose, positioned between Historic Downtown Campbell and Santana Row. The area offers access to dining, retail, and entertainment, with connectivity via Highways 280, 880, and 17. Major tech employers are reported within 3 to 5 miles, including Adobe, eBay, PayPal, Zoom, Western Digital, and Nutanix.
Key Highlights
- 14‑unit multifamily property built in 1958 on a 13,200 SF parcel
- Unit mix includes 10 one‑bedroom/one‑bath units and 4 two‑bedroom/one‑bath units
- Approximately 8,076 SF of rentable space
Local 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 | $319.8k | $39.60 |
| − Vacancy | −$14.4k | −$1.78 |
| EGI | $305.4k | $37.82 |
| − OpEx | −$137.4k | −$17.02 |
| NOI | $168.0k | $20.80 |
8,076 SF · lease $39.60/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.40M
$2.10M – $2.80M
NOI $167,980 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.88M
$4.27M – $5.69M
NOI $341,414 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Garden-style 14-unit multifamily building with 10 one-bed and 4 two-bed units on a 13,200 sf parcel.
Where is this apartment building located?
The property is located at 3047 David Ave San Jose, CA.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: 14‑unit multifamily property built in 1958 on a 13,200 SF parcel; Unit mix includes 10 one‑bedroom/one‑bath units and 4 two‑bedroom/one‑bath units; Approximately 8,076 SF of rentable space
