12-Unit Apartment
For Sale
$2,750,000
804 S Almaden Avenue, San Jose, CA 95110
Established multifamily property with ten studios and two one-bedroom, one-bath units in San Jose’s Washington-Guadalupe neighborhood.
Property Size5,680 SF
Lot Size0.20 Acres
Days on Market114
Property Features for 804 S Almaden Avenue
General Information
Standard status
Active
Size
5,680 SF
Net Rentable
5,680 SF
Lot size
0.20 Acres
Property subtype
Multi Family Home
Zoning
CN
Units
Unit Mix
10 x studio, 2 x 1BR/1BA
Multifamily Units
12
Building Details
Building Size
5,680 SF
Year Built
1925
Listing Agency:
CBRE, Inc.
(408) 893-8063
Listed By:
Adam Foley · License #02144332
(408) 893-8063
Source:
Brucebaldwin
Added: Apr 22
Changed: Aug 12
Last Checked: Aug 12 at 12:14PM
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 CBRE, Inc.
Investment Insights
Based on property information with market context.
Built in 1925, this 12-unit apartment property contains 5,680 rentable square feet on a 0.20-acre lot. The unit mix includes ten studio apartments and two one-bedroom, one-bathroom floorplans, providing a compact multifamily configuration within San Jose’s Washington-Guadalupe neighborhood. The property is identified under CN zoning.
Located at 804 S Almaden Avenue, the asset is positioned near major transit corridors and Downtown San Jose’s employment center. Its setting provides access to the central San Jose area and the surrounding Silicon Valley employment market.
Located at 804 S Almaden Avenue, the asset is positioned near major transit corridors and Downtown San Jose’s employment center. Its setting provides access to the central San Jose area and the surrounding Silicon Valley employment market.
Key Highlights
- 12‑unit multifamily property built in 1925
- 5,680 rentable square feet on a 0.20‑acre lot
- Unit mix includes ten studios and two one‑bedroom/one‑bathroom floorplans
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$118,143
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,362,860
$2.4M
Cap Rate 7%
$1,687,757
$1.7M
Cap Rate 9%
$1,312,700
$1.3M
Market Conditions
NOI Build-Up for 5,680 SF
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.
Gross rent
$224.9K $39.60/SF
− Vacancy
−$10.1K −$1.78/SF
EGI
$214.8K $37.82/SF
− OpEx
−$96.7K −$17.02/SF
NOI
$118.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,362,860
Cap Rate 7%
$1,687,757
Cap Rate 9%
$1,312,700
Alternative Uses
Best Use
Apartment 5plus
$1.69M
$1.48M – $1.97M
NOI $118,143 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.43M
$3.00M – $4.00M
NOI $240,123 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,462
Businesses Nearby
Explore this area
Business Placement
Demographics for 95110, CA
20,495
Population
7,568
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
81%
High-School Grad
4.6 sq mi
ZIP Area
4,455
Density / Sq Mi
$132,800
Median Household Income
$60,241
Median Earnings
$2,629
Median Rent
$947,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Established multifamily property with ten studios and two one-bedroom, one-bath units in San Jose’s Washington-Guadalupe neighborhood.
Where is this apartment building located?
The property is located at 804 S Almaden Avenue San Jose, CA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 12‑unit multifamily property built in 1925; 5,680 rentable square feet on a 0.20‑acre lot; Unit mix includes ten studios and two one‑bedroom/one‑bathroom floorplans
