Tenant-Occupied
New
For Sale
$1,295,000
388 S 19th St, San Jose, CA 95116
Three units provide full kitchens, private laundry, and separately metered utilities.
Property Size1,800 SF
Days on Market6
Property Features for 388 S 19th St
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Investment
Property Condition
Severity
Minor
Evidence
renovate the units
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2 beds/1 bath
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,500
Amenities
private laundry facilities
oversized driveway
Building Details
Building Size
1,800 SF
Year Built
1898
Stories
2
Units
3
Listing Agency:
(408) 375-1478
Listed By:
Annie F. Baker
(408) 375-1478
Source:
Elliman
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 18 at 9:12AM
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 Annie F. Baker
Investment Insights
Based on property information with market context.
Built in 1898, this triplex includes three tenant-occupied units, each configured with 2 beds/1 bath and approximately 600 sq ft. Every unit includes a full kitchen, private laundry facilities, and separately metered utilities. An oversized driveway provides off-street parking, with additional street parking available.
The property is located at 388 S 19th St in San Jose, near employment centers, schools, SJSU, shopping, restaurants, and coffee shops. Access to Highways 280, 101, and 680 supports travel throughout the area. The property information also identifies potential for one or two ADUs, subject to buyer verification, and notes consistently low vacancy and renovation potential.
The property is located at 388 S 19th St in San Jose, near employment centers, schools, SJSU, shopping, restaurants, and coffee shops. Access to Highways 280, 101, and 680 supports travel throughout the area. The property information also identifies potential for one or two ADUs, subject to buyer verification, and notes consistently low vacancy and renovation potential.
Key Highlights
- Three 2 beds/1 bath units, each approx 600 sq ft
- Full kitchens and private laundry facilities in all units
- Separately metered utilities for each unit
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
$40,528
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
3.13%
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%
$810,560
$810.6K
Cap Rate 7%
$578,971
$579.0K
Cap Rate 9%
$450,311
$450.3K
Market Conditions
NOI Build-Up for 1,800 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
$60.5K $33.60/SF
− Vacancy
−$2.6K −$1.43/SF
EGI
$57.9K $32.17/SF
− OpEx
−$17.4K −$9.65/SF
NOI
$40.5K $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 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%
$810,560
Cap Rate 7%
$578,971
Cap Rate 9%
$450,311
Alternative Uses
Best Use
Multifamily LT 5
$579.0K
$506.6K – $675.5K
NOI $40,528 @ 7.0% cap · market cap 3.13%
Second Best
Apartment 5plus
$534.9K
$468.0K – $624.0K
NOI $37,440 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$1.09M
$951.2K – $1.27M
NOI $76,095 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,166
Businesses Nearby
Explore this area
Business Placement
Demographics for 95116, CA
51,222
Population
13,987
Households
3.7
Avg Household Size
35
Median Age
21%
College-Educated
71%
High-School Grad
3.6 sq mi
ZIP Area
14,228
Density / Sq Mi
$83,428
Median Household Income
$41,992
Median Earnings
$2,049
Median Rent
$842,700
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?
Triplex - Three units provide full kitchens, private laundry, and separately metered utilities.
Where is this triplex located?
The property is located at 388 S 19th St San Jose, CA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Three 2 beds/1 bath units, each approx 600 sq ft; Full kitchens and private laundry facilities in all units; Separately metered utilities for each unit
