Downtown San Jose Multifamily
642 7th Street San Jose, CA 95112
For Sale
$4,595,000
Rare 12-unit multifamily property near Downtown San Jose.
Property Size12,325 SF
Lot Size0.17 Acres
Price / SF$372.82
Days on Market117
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 Agency:
MARCUS & MILLICHAP
(650) 391-1700
Listed By:
EYMON BINESH · License #02060059
Source:
Corcoran
Added: Mar 31
Changed: Jul 10
Last Checked: Jul 10 at 5:50AM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
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.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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.
