Apartment Community Across From
402 4th Street San Jose, CA 95112
For Sale
$6,200,000
19-unit community with a unit mix of eighteen 2-bedroom units and one studio, with individually metered utilities.
Property Size11,228 SF
Price / SF$552.19
Days on Market90
Property Features for 402 4th Street
General Information
- Standard status
- Active
- Size
- 11,228 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1957
Listing Agency:
MARCUS & MILLICHAP
(650) 391-1700
Listed By:
MITCHELL ZURICH · License #01870648
Source:
Corcoran
Added: Apr 26
Changed: Jul 21
Last Checked: Jul 23 at 7:18AM
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.
Veridian on 4th is a 19-unit apartment community featuring eighteen 2-bedroom units and one studio. The property has individually metered water, electric, and gas, supporting straightforward utility billing and individual expense management.
The community is located directly across the street from San Jose State University. Residents have walkable access to Downtown San Jose and San Pedro Square, and the property is also close to Diridon Station, providing connectivity to Caltrain, ACE, and future BART service.
With a functional unit mix designed around student, roommate, and young professional living, the community is positioned to serve a consistent rental base supported by SJSU and Silicon Valley employment.
The community is located directly across the street from San Jose State University. Residents have walkable access to Downtown San Jose and San Pedro Square, and the property is also close to Diridon Station, providing connectivity to Caltrain, ACE, and future BART service.
With a functional unit mix designed around student, roommate, and young professional living, the community is positioned to serve a consistent rental base supported by SJSU and Silicon Valley employment.
Key Highlights
- 19‑unit apartment community (built 1957) directly across from San Jose State University
- Unit mix: eighteen 2‑bedroom units and one studio
- Individually metered water, electric, and gas
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 | $444.6k | $39.60 |
| − Vacancy | −$20.0k | −$1.78 |
| EGI | $424.6k | $37.82 |
| − OpEx | −$191.1k | −$17.02 |
| NOI | $233.5k | $20.80 |
11,228 SF · lease $39.60/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.34M
$2.92M – $3.89M
NOI $233,541 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.78M
$5.93M – $7.91M
NOI $474,665 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - 19-unit community with a unit mix of eighteen 2-bedroom units and one studio, with individually metered utilities.
Where is this apartment building located?
The property is located at 402 4th Street San Jose, CA.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: 19‑unit apartment community (built 1957) directly across from San Jose State University; Unit mix: eighteen 2‑bedroom units and one studio; Individually metered water, electric, and gas
