San Jose Multifamily Investment
For Sale
$2,999,000
336 5th Street, San Jose, CA 95112
Centrally located 10-unit multifamily asset in vibrant Downtown San Jose.
Property Size5,521 SF
Price / SF$543.20
Days on Market421
Property Features for 336 5th Street
General Information
Standard status
Active
Size
5,521 SF
Property subtype
Commercial
Amenities
Carpet Flooring
Carport(s)
Coin Operated Laundry
Flat/Low Pitch Roof
Gas Heating
Level
Parking Area
Tile Flooring
Uncovered Parking
Vinyl / Linoleum Flooring
Building Details
Year Built
1957
Listing Agency:
COLDWELL BANKER REALTY
(650) 726-1100
Listed By:
MATT ARAGONI · License #01978236
Source:
Corcoran
Added: Jun 19, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:45AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
Located in Downtown San Jose, this multifamily asset at 336 N 5th St features ten units: eight 1-bedroom/1-bathroom units, one 2-bedroom/1-bathroom unit, and one studio. The property has a gross building area of approximately 5,521 square feet and is situated on a 9,798 square foot lot. On-site amenities include covered parking, storage lockers, and a laundry facility. The property is within walking distance of SJSU, Japantown, and the SJ Market Center, offering convenient access to retail, dining, and entertainment. It also provides easy access to major highways (280, 101, 87), Caltrain, Light Rail stations, and San Jose Mineta International Airport. This income-generating property presents an opportunity for investors to acquire an asset with long-term upside potential in a thriving rental market. The location is near major employers and universities like SCU and SJSU, in a city undergoing urban revitalization.
Key Highlights
- Prime location in Downtown San Jose, near SJSU, Japantown, and SJ Market Center.
- 10‑unit multifamily asset with a mix of 1Bd/1Ba, 2Bd/1Ba, and studio units.
- Convenient on‑site amenities include covered parking, storage lockers, and a laundry facility.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$114,836
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,296,720
$2.3M
Cap Rate 7%
$1,640,514
$1.6M
Cap Rate 9%
$1,275,956
$1.3M
Market Conditions
NOI Build-Up for 5,521 SF
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.
Gross rent
$218.6K $39.60/SF
− Vacancy
−$9.8K −$1.78/SF
EGI
$208.8K $37.82/SF
− OpEx
−$94.0K −$17.02/SF
NOI
$114.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,296,720
Cap Rate 7%
$1,640,514
Cap Rate 9%
$1,275,956
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.44M – $1.91M
NOI $114,836 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.33M
$2.92M – $3.89M
NOI $233,401 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,827
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Centrally located 10-unit multifamily asset in vibrant Downtown San Jose.
Where is this apartment building located?
The property is located at 336 5th Street San Jose, CA.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: Prime location in Downtown San Jose, near SJSU, Japantown, and SJ Market Center.; 10‑unit multifamily asset with a mix of 1Bd/1Ba, 2Bd/1Ba, and studio units.; Convenient on‑site amenities include covered parking, storage lockers, and a laundry facility.
