Japantown Multifamily Investment
530 N 2nd St San Jose, CA 95112
For Sale
Contact for pricing
Turnkey 7-unit property in vibrant Japantown with value-add potential.
Property Size4,088 SF
Price / SF$506.33
Days on Market1146
Property Features for 530 N 2nd St
General Information
Standard status
Active
Size
4,088 SF
Property subtype
Multifamily
Listing Agency:
But Simple, Inc.
(408) 202-7125
Listed By:
David Propach · License #CA 01926166
Source:
Crexi
Added: Jun 10, 2023
Changed: Jul 6
Last Checked: Jul 28 at 4:05PM
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 But Simple, Inc.
Investment Insights
Based on property information with market context.
This is a 7-unit multifamily property centrally located in Japantown. The property is a turnkey asset with a history of low vacancy. It features off-street parking and 8 rentable storage units. The property includes a 5-unit front building with a common laundry room and 8 storage units below. The front building had a new roof installed in 2005 and a new water heater in 2019. Commercial-grade vinyl plank flooring was installed in 3 units in 2023, and some units have dual-pane windows and LED lighting. The duplex building behind the front building contains two 2-bed/1-bath units and had a new roof installed in 2019. Some units have newer carpets and paint. There is an attractive shaded yard between the buildings with tables and seating. The property has lush landscaping and authentic 1898 Victorian character with spacious interiors, soaring windows, and decorative details. The property contains 4,088 square feet.
Key Highlights
- Turnkey asset with proven excellent low vacancy operating history, providing immediate cash flow.
- Prime location in vibrant Japantown.
- Abundant off‑street parking and 8 rentable storage units for bonus income.
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 | $161.9k | $39.60 |
| − Vacancy | −$7.3k | −$1.78 |
| EGI | $154.6k | $37.82 |
| − OpEx | −$69.6k | −$17.02 |
| NOI | $85.0k | $20.80 |
4,088 SF · lease $39.60/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.42M
NOI $85,030 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,821 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey 7-unit property in vibrant Japantown with value-add potential.
Where is this apartment building located?
The property is located at 530 N 2nd St San Jose, CA.
What is the asking price?
The asking price for this property is $2,069,888.
What are key features of this property?
This property features: Turnkey asset with proven excellent low vacancy operating history, providing immediate cash flow.; Prime location in vibrant Japantown.; Abundant off‑street parking and 8 rentable storage units for bonus income.
