Apartment Building Income
47 CLEVELAND AVE San Jose, CA 95128
For Sale
Contact for pricing
Apartment building for sale in San Jose, not bound by San Jose Rent Control, with residential income potential.
Property Size3,492 SF
Price / SF$529.78
Days on Market66
Property Features for 47 CLEVELAND AVE
General Information
- Standard status
- Active
- Size
- 3,492 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1959
Listing Agency:
Compass Commercial Real Estate
(415) 345-3000
Listed By:
Tony Zizzo · License #CA#01962093
Source:
Crexi
Added: May 20
Changed: Jul 23
Last Checked: Jul 23 at 9:34AM
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 Compass Commercial Real Estate
Investment Insights
Based on property information with market context.
This apartment building income property is being offered for sale and is listed as not bound by San Jose Rent Control. The offering includes a total property size of 3,492 square feet, configured as residential income use based on the property’s classification.
The property is located at 47 CLEVELAND AVE, SAN JOSE, CA 95128. This rent control status is a key item for buyers evaluating compliance requirements and operating considerations.
For more details on the building’s configuration and current income/expense history, please request the available materials from the listing broker.
The property is located at 47 CLEVELAND AVE, SAN JOSE, CA 95128. This rent control status is a key item for buyers evaluating compliance requirements and operating considerations.
For more details on the building’s configuration and current income/expense history, please request the available materials from the listing broker.
Key Highlights
- Apartment building built in 1959
- Property is not bound by San Jose Rent Control
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 | $138.3k | $39.60 |
| − Vacancy | −$6.2k | −$1.78 |
| EGI | $132.1k | $37.82 |
| − OpEx | −$59.4k | −$17.02 |
| NOI | $72.6k | $20.80 |
3,492 SF · lease $39.60/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$907.9K – $1.21M
NOI $72,633 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,625 @ 7.0% cap · market cap 7.98%
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 - Apartment building for sale in San Jose, not bound by San Jose Rent Control, with residential income potential.
Where is this apartment building located?
The property is located at 47 CLEVELAND AVE San Jose, CA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Apartment building built in 1959; Property is not bound by San Jose Rent Control
