San Jose Multifamily Investment
Nordale Avenue San Jose, CA 95112
For Sale
$1,525,000
Five-unit apartment complex in San Jose with diverse unit mix.
Property Size3,280 SF
Lot Size0.17 Acres
Price / SF$464.94
Days on Market413
Property Features for Nordale Avenue
General Information
Standard status
Active
Size
3,280 SF
Lot size
0.17 Acres
Property subtype
Commercial
Building Details
Year Built
1962
Listing Agency:
MARCUS & MILLICHAP
(650) 391-1824
Listed By:
MITCHELL ZURICH · License #01870648
Source:
Corcoran
Added: Jun 11, 2025
Changed: Jul 10
Last Checked: Jul 28 at 7:28AM
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.
This five-unit apartment complex is located in San Jose. The property features a unit mix of one 2-bedroom unit, three 1-bedroom units, and one studio. A new roof was installed in May 2025. Seller financing is available at 5% interest only at 70% LTV. The property size is 3,280 square feet.
Key Highlights
- Seller financing available at 5% interest only with 70% LTV.
- 5‑unit apartment complex in San Jose.
- Brand new roof (May 2025).
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 | $129.9k | $39.60 |
| − Vacancy | −$5.8k | −$1.78 |
| EGI | $124.0k | $37.82 |
| − OpEx | −$55.8k | −$17.02 |
| NOI | $68.2k | $20.80 |
3,280 SF · lease $39.60/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$974.6K
$852.8K – $1.14M
NOI $68,224 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,662 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit apartment complex in San Jose with diverse unit mix.
Where is this apartment building located?
The property is located at Nordale Avenue San Jose, CA.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: Seller financing available at 5% interest only with 70% LTV.; 5‑unit apartment complex in San Jose.; Brand new roof (May 2025).
