Apartment Building with Covered
New
For Sale
$5,250,000
590 Stoney Ct, Gilroy, CA 95020
Separate water heaters serve the residences, and most interiors have been remodeled.
Property Size15,960 SF
Lot Size0.95 Acres
Price / SF$328.95
Days on Market2
Property Features for 590 Stoney Ct
General Information
Standard status
Active
Size
15,960 SF
Total Parking Spaces
36
Lot size
0.95 Acres
Property subtype
Multi Family Home
Zoning
R3
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Building Details
Building Size
15,960 SF
Year Built
1984
Buildings
4
Listing Agency:
Real Property Investments
Listed By:
Tom Antonopoulos · License #00492309
(408) 391-9546
Source:
Firesiderealty
Added: Oct 23
Last Checked: Oct 23 at 1:20PM
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 Real Property Investments
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Investment Insights
Based on property information with market context.
Built in 1984, this apartment property contains units configured with two bedrooms and one bathroom each. Most have undergone interior remodeling, and every unit has its own hot water heater. The site includes 36 parking spaces, 19 beneath carports, along with street parking. Decking work required under SB 721 has been completed.
The approximately 0.95-acre property is in Gilroy, less than one mile from the Cal Train Gilroy Station and near the Gilroy outlets, Costco and Walmart. Zoning is R3.
The approximately 0.95-acre property is in Gilroy, less than one mile from the Cal Train Gilroy Station and near the Gilroy outlets, Costco and Walmart. Zoning is R3.
Key Highlights
- 36 parking spaces, including 19 covered carport spaces
- All units have two bedrooms and one bathroom
- Approximately 0.95‑acre site in Gilroy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$303,368
Cap Rate
5.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,067,360
$6.1M
Cap Rate 7%
$4,333,829
$4.3M
Cap Rate 9%
$3,370,756
$3.4M
Market Conditions
NOI Build-Up for 15,960 SF
Gross rent
$574.6K $36.00/SF
− Vacancy
−$23.0K −$1.44/SF
EGI
$551.6K $34.56/SF
− OpEx
−$248.2K −$15.55/SF
NOI
$303.4K $19.01/SF
Area
Santa Clara County, CA
Vacancy
4.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,067,360
Cap Rate 7%
$4,333,829
Cap Rate 9%
$3,370,756
Alternative Uses
Best Use
Apartment 5plus
$4.33M
$3.79M – $5.06M
NOI $303,368 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.64M
$8.43M – $11.24M
NOI $674,471 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,474
Businesses Nearby
Explore this area
Business Placement
Demographics for 95020, CA
68,090
Population
20,679
Households
3.3
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
151.8 sq mi
ZIP Area
449
Density / Sq Mi
$134,242
Median Household Income
$50,421
Median Earnings
$2,256
Median Rent
$1,005,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Separate water heaters serve the residences, and most interiors have been remodeled.
Where is this apartment building located?
The property is located at 590 Stoney Ct Gilroy, CA.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: 36 parking spaces, including 19 covered carport spaces; All units have two bedrooms and one bathroom; Approximately 0.95‑acre site in Gilroy
