6-Unit Apartment Building with Detached
88 9th Street Gilroy, CA 95020
88 9th Street, Gilroy, CA, 95020
$1,800,000
For Sale
$1,800,000
Six-unit apartment building on a 12,000 sq. ft. lot with detached garages and a coin-operated laundry facility.
Property Size4,264 SF
Lot Size0.28 Acres
Price / SF$422.14
Days on Market73
Property Features for 88 9th Street
General Information
- Standard status
- Active
- Size
- 4,264 SF
- Lot size
- 0.28 Acres
- Property subtype
- General Commercial
Building Details
- Year Built
- 1978
Listing agency
Intempus Realty
(408) 320-5509
Listed by
Elizabeth Monroy-Rivera
Source
Xome
Added: May 11 Updated: Jul 22 at 12:15AM Checked: Jul 22 at 3:47AM
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 Intempus Realty
Investment Insights
Based on property information with market context.
This for-sale six-unit apartment building offers approximately 4,264 sq. ft. of living space on a 12,000 sq. ft. lot. The property includes detached garages for tenant convenience and a common coin-operated laundry facility. Several units have been updated with newer laminate flooring and appliances, supporting a more modern in-unit feel.
A new roof was installed less than two years ago. The building is described as pride-of-ownership, with functional layouts and on-site options for storage and parking.
Located near shopping, restaurants, and everyday conveniences, the property also provides easy access to major freeways for commuting throughout the South Bay.
A new roof was installed less than two years ago. The building is described as pride-of-ownership, with functional layouts and on-site options for storage and parking.
Located near shopping, restaurants, and everyday conveniences, the property also provides easy access to major freeways for commuting throughout the South Bay.
Key Highlights
- Six‑unit apartment building with approximately 4,264 sq ft of living space on a 12,000 sq ft lot
- Detached garages and 6 parking spaces provided for tenants
- Common coin‑operated laundry facility on‑site
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 | $153.5k | $36.00 |
| − Vacancy | −$6.1k | −$1.44 |
| EGI | $147.4k | $34.56 |
| − OpEx | −$66.3k | −$15.55 |
| NOI | $81.1k | $19.01 |
4,264 SF · lease $36.00/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.01M – $1.35M
NOI $81,050 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $180,197 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Six-unit apartment building on a 12,000 sq. ft. lot with detached garages and a coin-operated laundry facility.
Where is this apartment building located?
The property is located at 88 9th Street Gilroy, CA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Six‑unit apartment building with approximately 4,264 sq ft of living space on a 12,000 sq ft lot; Detached garages and 6 parking spaces provided for tenants; Common coin‑operated laundry facility on‑site
