San Jose Multifamily Investment
3047 David Avenue San Jose, CA 95128
3047 David Avenue, San Jose, CA, 95128
$3,620,000
For Sale
$3,620,000
14-unit multifamily property in San Jose, California.
Property Size8,076 SF
Lot Size0.30 Acres
Price / SF$448.24
Days on Market95
Property Features for 3047 David Avenue
General Information
- Standard status
- Active
- Size
- 8,076 SF
- Lot size
- 0.30 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1958
Listing Agency
MARCUS & MILLICHAP
(650) 391-1700
Listed by
JIMMY CASTELLANOS · License #(S):CA:02024152
Source
Corcoran
Added: Apr 14 Checked: Jul 17 at 3:39 am
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
Investment Insights
Based on property information with market context.
The property at 3047 David Avenue is a 14-unit multifamily property located in San Jose, California. Constructed in 1958, the building contains approximately 8,076 square feet of rentable space and is situated on a 13,200 square foot parcel. The unit mix includes ten one-bedroom/one-bath units and four two-bedroom/one-bath units. The property's garden-style design facilitates management and has historically maintained strong occupancy. The location provides convenient access to dining, retail, and entertainment options between Historic Downtown Campbell and Santana Row. The property is located within 35 miles of major tech employers, including Adobe, eBay, PayPal, Zoom, Western Digital, and Nutanix. Highways 280, 880, and 17 provide excellent connectivity, supporting strong tenant demand.
Key Highlights
- Prime location between Downtown Campbell and Santana Row
- Strong tenant demand due to proximity to major tech employers
- Excellent connectivity via Highways 280, 880, and 17
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 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.88M
$4.27M – $5.69M
NOI $341,414 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 14-unit multifamily property in San Jose, California.
Where is this apartment building located?
The property is located at 3047 David Avenue San Jose, CA.
What is the asking price?
The asking price for this property is $3,620,000.
What are key features of this property?
This property features: Prime location between Downtown Campbell and Santana Row; Strong tenant demand due to proximity to major tech employers; Excellent connectivity via Highways 280, 880, and 17
