Eight-Unit Apartment
50 Cleveland Ave San Jose, CA 95128
50 Cleveland Ave, San Jose, CA, 95128
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For Sale
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Eight one-bedroom, one-bath units make up this multifamily asset in unincorporated Santa Clara County.
Property Size3,761 SF
Price / SF$465.30
Days on Market53
Property Features for 50 Cleveland Ave
General Information
- Standard status
- Active
- Size
- 3,761 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1957
Listing agency
Marcus & Millichap - Palo Alto
(650) 391-1824
Listed by
Mitchell Zurich · License #CA 01870648
Source
Crexi
Added: May 30 Updated: Jul 21 at 3:50AM Checked: Jul 21 at 3:50AM
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 - Palo Alto
Investment Insights
Based on property information with market context.
This eight-unit multifamily property consists entirely of one-bedroom, one-bathroom units. The building is positioned as exempt from the City of San Jose Apartment Rent Ordinance, which may provide operational flexibility compared to multifamily assets subject to that ordinance.
Located in the Burbank neighborhood of unincorporated Santa Clara County, the property is described as just moments from Downtown San Jose. It is also presented as near Santana Row, Valley Fair, and major transportation corridors, with convenient access to major employers in the Silicon Valley tech corridor including Adobe, Nvidia, PayPal, and Apple.
Located in the Burbank neighborhood of unincorporated Santa Clara County, the property is described as just moments from Downtown San Jose. It is also presented as near Santana Row, Valley Fair, and major transportation corridors, with convenient access to major employers in the Silicon Valley tech corridor including Adobe, Nvidia, PayPal, and Apple.
Key Highlights
- 8‑unit multifamily property built in 1957, located in unincorporated Santa Clara County
- All units are 1‑bedroom/1‑bath, offering a consistent unit mix throughout the building
- Property is exempt from the City of San Jose Apartment Rent Ordinance
Local 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 | $148.9k | $39.60 |
| − Vacancy | −$6.7k | −$1.78 |
| EGI | $142.2k | $37.82 |
| − OpEx | −$64.0k | −$17.02 |
| NOI | $78.2k | $20.80 |
3,761 SF · lease $39.60/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$977.9K – $1.30M
NOI $78,228 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.27M
$1.99M – $2.65M
NOI $158,997 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Eight one-bedroom, one-bath units make up this multifamily asset in unincorporated Santa Clara County.
Where is this apartment building located?
The property is located at 50 Cleveland Ave San Jose, CA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 8‑unit multifamily property built in 1957, located in unincorporated Santa Clara County; All units are 1‑bedroom/1‑bath, offering a consistent unit mix throughout the building; Property is exempt from the City of San Jose Apartment Rent Ordinance
