Rebuilt 5-Unit Apartment
767 2nd Street San Jose, CA 95112
For Sale
$1,590,000
Pending
Five 1BR/1BA units on an oversized lot, fully rebuilt after a permitted fire with new electrical and windows.
Property Size2,726 SF
Lot Size0.15 Acres
Days on Market76
Property Features for 767 2nd Street
General Information
- Standard status
- Pending
- Size
- 2,726 SF
- Lot size
- 0.15 Acres
- Property subtype
- General Commercial
Building Details
- Year Built
- 1940
Listing Agency:
Marcus & Millichap
(650) 391-1700
Listed By:
Eymon Binesh · License #02060059
Source:
Xome
Added: May 10
Changed: Jul 22
Last Checked: Jul 23 at 3:54AM
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.
767 S 2nd Street is a well-maintained 5-unit multifamily property with all units configured as 1-bedroom/1-bath. Built in 1940, the asset was recently impacted by fire and has been completely rebuilt with permits. Recent capital improvements include brand-new electrical systems, dual-pane windows, and refreshed interior and exterior finishes. The building is currently 100% occupied and provides in-place rental income, with separately metered electricity and gas servicing each unit. The property also features five assigned parking spaces.
The property is located in the Spartan-Keyes neighborhood near San Jose State University and major Silicon Valley employment hubs, with convenient access to transit, retail, and dining. This combination of tenant demand and a turnkey condition supports straightforward day-to-day ownership.
The property is located in the Spartan-Keyes neighborhood near San Jose State University and major Silicon Valley employment hubs, with convenient access to transit, retail, and dining. This combination of tenant demand and a turnkey condition supports straightforward day-to-day ownership.
Key Highlights
- 5‑unit multifamily property with all 1 bed/1 bath units
- Built in 1940 and 100% occupied
- Recently rebuilt after a fire with permits
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 | $107.9k | $39.60 |
| − Vacancy | −$4.9k | −$1.78 |
| EGI | $103.1k | $37.82 |
| − OpEx | −$46.4k | −$17.02 |
| NOI | $56.7k | $20.80 |
2,726 SF · lease $39.60/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$810.0K
$708.8K – $945.0K
NOI $56,701 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,242 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Five 1BR/1BA units on an oversized lot, fully rebuilt after a permitted fire with new electrical and windows.
Where is this apartment building located?
The property is located at 767 2nd Street San Jose, CA.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: 5‑unit multifamily property with all 1 bed/1 bath units; Built in 1940 and 100% occupied; Recently rebuilt after a fire with permits
