Apartment Community Across From
For Sale
$6,200,000
402 S 4th St, San Jose, CA 95112
19-unit community with a unit mix of eighteen 2-bedroom units and one studio, with individually metered utilities.
Property Size11,228 SF
Days on Market165
Property Features for 402 S 4th St
General Information
Standard status
Active
Size
11,228 SF
Property subtype
Multifamily
Occupancy
97%
Additional Details
Multifamily Units
19
Amenities
Unmatched Location ±100 feet from San José State University
Ample Parking – Twenty-one (21) uncovered parking spaces
Prime Urban Setting located in the heart of San Jose's downtown core
Walkable Lifestyle within 0.5 miles of Downtown San Jose & San Pedro Square
Transit-Oriented: ~2 miles to Diridon Station (Caltrain, ACE, future BART)
Strong Demand Drivers Supported by SJSU and Silicon Valley employment
In-Unit W&D - featured in units 414-2, 420-2, and 420-5
Building Details
Building Size
11,228 SF
Units
19
Tenancy
Multi
Listed By:
Mitch Zurich · License #License(s): CA: 01870648
(650) 391-1824
Source:
Marcusmillichap
Added: May 8
Changed: Oct 12
Last Checked: Oct 16 at 5:48AM
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 Mitch Zurich
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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
Estimated NOI and Cap Rate
NOI / Yr
$233,541
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,670,820
$4.7M
Cap Rate 7%
$3,336,300
$3.3M
Cap Rate 9%
$2,594,900
$2.6M
Market Conditions
NOI Build-Up for 11,228 SF
Gross rent
$444.6K $39.60/SF
− Vacancy
−$20.0K −$1.78/SF
EGI
$424.6K $37.82/SF
− OpEx
−$191.1K −$17.02/SF
NOI
$233.5K $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 Rate 5%
$4,670,820
Cap Rate 7%
$3,336,300
Cap Rate 9%
$2,594,900
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 authorities.
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Property Analytics
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Current Use
Lease Details
19
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,455
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
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 S 4th St 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
