Craftsman Multifamily
For Sale
$1,499,000
98 Saint John Street, San Jose, CA 95112
Timeless craftsman multifamily featuring studios and 1–3 bedroom units, including several with in-unit washer/dryers.
Property Size3,976 SF
Price / SF$377.01
Days on Market33
Property Features for 98 Saint John Street
General Information
Standard status
Active
Size
3,976 SF
Property subtype
General Commercial
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$13,000
Amenities
3
Composition
Building Details
Year Built
1906
Listing Agency:
Realty Executives SV Inc.
(408) 772-3339
Listed By:
Andrew Espino · License #01415279
Source:
Xome
Added: Jul 9
Changed: Aug 8
Last Checked: Aug 9 at 5:07AM
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 Realty Executives SV Inc.
Investment Insights
Based on property information with market context.
A timeless Craftsman-style multifamily at 98 E Saint John Street in San Jose, CA. The property offers a mix of unit types, including (1) studio; (1) large studio with washer/dryer; (1) one-bedroom; (1) two-bedroom with washer/dryer; and (1) three-bedroom with washer/dryer. This configuration supports a range of day-to-day residential needs while maintaining a consistent overall building presentation.
Set in a central downtown neighborhood, the property is described as being close to Downtown San Jose, SJSU, SAP Center, Google V…illage, Diridon, and San Jose International Airport. For buyers and brokers, that proximity may be useful when underwriting demand drivers tied to the surrounding employment, education, and entertainment areas.
The building’s current unit mix is designed to serve multiple household sizes, with select units including in-unit washer/dryer. The total property size is listed as 3,976 square feet.
Set in a central downtown neighborhood, the property is described as being close to Downtown San Jose, SJSU, SAP Center, Google V…illage, Diridon, and San Jose International Airport. For buyers and brokers, that proximity may be useful when underwriting demand drivers tied to the surrounding employment, education, and entertainment areas.
The building’s current unit mix is designed to serve multiple household sizes, with select units including in-unit washer/dryer. The total property size is listed as 3,976 square feet.
Key Highlights
- Craftsman‑style multifamily built in 1906
- Unit mix includes (1) studio, (1) large studio with W/D, (1) 1‑bedroom, (1) 2‑bedroom with W/D, and (1) 3‑bedroom with W/D
- Several units include in‑unit washer/dryers
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
$82,700
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
5.52%
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%
$1,654,000
$1.7M
Cap Rate 7%
$1,181,429
$1.2M
Cap Rate 9%
$918,889
$918.9K
Market Conditions
NOI Build-Up for 3,976 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
$157.4K $39.60/SF
− Vacancy
−$7.1K −$1.78/SF
EGI
$150.4K $37.82/SF
− OpEx
−$67.7K −$17.02/SF
NOI
$82.7K $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%
$1,654,000
Cap Rate 7%
$1,181,429
Cap Rate 9%
$918,889
Alternative Uses
Best Use
Apartment 5plus
$1.18M
$1.03M – $1.38M
NOI $82,700 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,086 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
6,117
Businesses Nearby
Explore this area
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
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 - Timeless craftsman multifamily featuring studios and 1–3 bedroom units, including several with in-unit washer/dryers.
Where is this apartment building located?
The property is located at 98 Saint John Street San Jose, CA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Craftsman‑style multifamily built in 1906; Unit mix includes (1) studio, (1) large studio with W/D, (1) 1‑bedroom, (1) 2‑bedroom with W/D, and (1) 3‑bedroom with W/D; Several units include in‑unit washer/dryers
