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    710 23Rd St San Jose, CA 95112

    Sponsored
    For Sale
    Contact for pricing

    25-Unit Apartment Building, High NOI

    Property size:
    24,491 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional 25-unit apartment building presents a compelling investment opportunity in San Jose, California. The property, encompassing approximately 24,491 square feet of net rentable space, sits on a sizable 35,324 square foot lot (0.81 acres). Constructed in 1962, the two-building complex features two stories and boasts a 96% occupancy rate, generating a current NOI of $503,722 and a pro-forma NOI of $552,395. The property includes a mix of one to three-bedroom units, offering a diverse range of living spaces. Convenient amenities include ample off-street parking and an on-site laundry facility. Its prime location at 710 N 23rd St, San Jose, CA 95112, places it within close proximity to San Jose State University (6 minutes away), Santa Clara University, and San Jose City College, making it attractive to students and faculty. The property's proximity to Japantown, downtown San Jose, and public transportation, including the Berryessa/North San Jose BART station, further enhances its appeal. The permitted zoning is MULTI-FAMILY RES (5+ units), offering potential for future development or expansion. This fee-simple ownership opportunity provides a strong foundation for long-term growth and profitability in a thriving San Jose market, just 4.5 miles from Norman Y. Mineta San Jose International Airport. The APN is 249-20-010.

    Property Features for 710 23Rd St

    General Information

    Property type
    Multifamily properties
    Square Feet
    24,491 SF
    Class
    C

    Building Details

    Year Built
    1962
    Buildings
    2
    Stories
    2
    Units
    25

    HighLights

    • 25‑unit apartment building in San Jose, CA.
    • Ample off‑street tenant parking.
    • Significant potential for expansion and value enhancement.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Villa Apartments Apartment Building

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.87893917
    Latitude
    37.36008786

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    FAQs

    What type of property is this?
    Multifamily property - 25-Unit Apartment Building, High NOI
    Where is this multifamily property located?
    The property is located at 710 23Rd St San Jose, CA.
    What are key features of this property?
    This property features: 25-unit apartment building in San Jose, CA.; Ample off-street tenant parking.; Significant potential for expansion and value enhancement.
    Request Owner's contact information
    710 23Rd St San Jose, CA 95112
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    San Jose, CA 95112
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    710 23Rd St San Jose, CA 95112
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