1520 San Carlos StSan Jose, CA 95126

Property Details for 1520 San Carlos St

Year built

1948

Construction

TILT-UP CONCRETE

Lot size

0.37 AC

Property size (Sq ft)

7,130 SF

Zone code

G

Property type

Retail properties

Property subtype

Retail space

APN

277-18-021

APU

27718021

Description

This exceptional redevelopment opportunity presents a fully entitled mixed-use project in San Jose's vibrant Midtown. The assemblage comprises 1.34 acres of land, zoned for a Class A, eight-story building featuring 256 residential units and 15,203 square feet of commercial space. The project includes 20% (51 units) of affordable housing, fulfilling on-site obligations, with the remaining 205 units designated as market rate. Parking is generously provided with 261 stalls located in a full basement and at the rear of the ground level. The building design incorporates a podium structure, utilizing a combination of concrete and wood framing. The market-rate units will reach a height of 79 feet to the roofline, extending to 88 feet with architectural elements. The affordable housing units will share a connected ground-level structure. This offering presents a unique chance to acquire a substantial, fully entitled project in a market with limited comparable inventory, promising significant long-term returns. The asking price is $33,000,000. The project is anticipated to be completed in 2026. This is a prime opportunity for investors seeking a high-return, mixed-use development in a thriving California location. The project is located at 1520 W San Carlos St, San Jose, CA 95126, in Santa Clara County.

• CAP approach

  CAP return

  Valuation

  6%

  $3,278,260

  6.5%

  $3,026,086

  7%

  $2,809,937

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,011,344

  Geo Method

  $5,011,344

• Alternative Use

  Use

  Valuation

  Residential

  $2,552,616

  Hospitality

  $2,338,183

  Educational

  $1,945,341

  Medical

  $2,012,244

  Retail

  $3,026,086

Location Insight

City

San Jose

County

Santa Clara

State

California

Latitude

37.3232

Longitude

-121.918

CBSA code

41940

CBSA name

SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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