12-Unit Apartment Building with
649 South 9th Street, San Jose, CA 95112
For Sale
New
$3,025,000
Fully occupied residential property near San Jose State University, with assigned carport parking for each apartment.
Property Size6,364 SF
Price / SF$475.33
Days on Market7
Property Features for 649 South 9th Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Occupancy
Financials
Asking Price
Cap Rate
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
Ceiling Fan(s)
Wall Furnace
Crawl Space
Assigned
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Compass
Listed By:
Ray Rodriguez · License #01999734
(650) 405-0743
Source:
Evrealestate
Added: Nov 3
Changed: Nov 7
Last Checked: Nov 8 at 6:33AM
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 Compass
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Investment Insights
Based on property information with market context.
At 649 S 9th Street, this 12-unit apartment building is fully occupied and offers a mix of eleven 1-bedroom, 1-bathroom apartments and one 2-bedroom, 1-bathroom apartment. Each unit has an assigned carport. The property is located in downtown San Jose, approximately two blocks from San Jose State University.
The building may be purchased individually or together with the neighboring 14-unit property at 659 S 9th Street, creating a 26-unit portfolio.
The building may be purchased individually or together with the neighboring 14-unit property at 659 S 9th Street, creating a 26-unit portfolio.
Key Highlights
- 12 units: eleven 1BR/1BA apartments and one 2BR/1BA apartment
- Fully occupied
- Assigned carport parking for every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$132,371
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,647,420
$2.6M
Cap Rate 7%
$1,891,014
$1.9M
Cap Rate 9%
$1,470,789
$1.5M
Market Conditions
NOI Build-Up for 6,364 SF
Gross rent
$252.0K $39.60/SF
− Vacancy
−$11.3K −$1.78/SF
EGI
$240.7K $37.82/SF
− OpEx
−$108.3K −$17.02/SF
NOI
$132.4K $20.80/SF
Area
San Jose, CA
Vacancy
4.50%
Lease Rate
$39.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,647,420
Cap Rate 7%
$1,891,014
Cap Rate 9%
$1,470,789
Alternative Uses
Best Use
Apartment 5plus
$1.89M
$1.65M – $2.21M
NOI $132,371 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.84M
$3.36M – $4.48M
NOI $269,039 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
12
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,972
Businesses Nearby
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Business Placement
Demographics for 95112, CA
60,754
Population
22,969
Households
2.6
Avg Household Size
33
Median Age
39%
College-Educated
82%
High-School Grad
7.3 sq mi
ZIP Area
8,322
Density / Sq Mi
$89,649
Median Household Income
$45,690
Median Earnings
$2,095
Median Rent
$956,300
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in San Jose, CA
Properties on Market for Apartment buildings in San Jose
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied residential property near San Jose State University, with assigned carport parking for each apartment.
Where is this apartment building located?
The property is located at 649 South 9th Street San Jose, CA.
What is the asking price?
The asking price for this property is $3,025,000.
What are key features of this property?
This property features: 12 units: eleven 1BR/1BA apartments and one 2BR/1BA apartment; Fully occupied; Assigned carport parking for every unit
