Downtown San Jose Multifamily
642 7th Street, San Jose, CA 95112
Rare 12-unit multifamily property near Downtown San Jose.
Type:Commercial
Property size:
12,325 SFLot size:
0.17 AcresPrice / SF:
$372/SF- Added:
- Mar 31, 2026
- Days on Market:
- 64
- Last Refresh:
- Mar 31 at 8:09 pm
Property Features for 642 7th Street
General Information
- Standard status
- Active
- Size
- 12,325 SF
- Lot size
- 0.17 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1961
Listing agent EYMON BINESH License #02060059
Listing office MARCUS & MILLICHAP (650) 391-1700
Listing date Mar 31, 2026
Source Corcoran
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
HighLights
- Rare 12‑unit multifamily asset in the heart of Downtown San Jose.
- Exceptional unit mix: six oversized 2‑bedroom units and six large 3‑bedroom units.
- Highly desirable underground parking, a rare amenity for assets of this size.
- Prime location minutes from Downtown San Jose, San Jose State University, and major Silicon Valley employers.
- Select interior upgrades including vinyl plank flooring and updated kitchens with granite/quartz countertops.
- On‑site laundry for tenants.
Overview
Located in the heart of Downtown San Jose, this multifamily asset features 12 units with an exceptional mix of six oversized 2-bedroom units and six large 3-bedroom units. Constructed in 1961, the property encompasses approximately 12,325 square feet on a 7,520 square foot lot. It includes underground parking, a desirable amenity for properties of this size. Select interior upgrades have been implemented, such as vinyl plank flooring, updated kitchens with granite/quartz countertops, and dual-pane windows throughout. On-site laundry facilities are available for tenants. The property is situated minutes from Downtown San Jose, San Jose State University, and major Silicon Valley employers, offering a prime location with rental demand and long-term potential. The unit mix is ideal for families, roommates, and student housing.
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 | $488.1k | $39.60 |
| − Vacancy | −$22.0k | −$1.78 |
| EGI | $466.1k | $37.82 |
| − OpEx | −$209.7k | −$17.02 |
| NOI | $256.4k | $20.80 |
12,325 SF · lease $39.60/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.66M
$3.20M – $4.27M
NOI $256,359 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.44M
$6.51M – $8.68M
NOI $521,041 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- San Jose
- County
- Santa Clara
- State
- California
- Longitude
- -121.8766551
- Latitude
- 37.3296602
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Rare 12-unit multifamily property near Downtown San Jose.
Where is this apartment building located?
The property is located at 642 7th Street San Jose, CA.
What is the asking price?
The asking price for this property is $4,595,000.
What are key features of this property?
This property features: Rare 12‑unit multifamily asset in the heart of Downtown San Jose.; Exceptional unit mix: six oversized 2‑bedroom units and six large 3‑bedroom units.; Highly desirable underground parking, a rare amenity for assets of this size.
