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    Property profile & analytics

    1298 Tripp Ave San Jose, CA 95116-1050

    • Apartment buildings
    • 17,494 SF
    • 0.77 lot acres
    OFF-MARKET
    Last Sale
    Jun 30, 2021
    $12,960,000
    Value Estimations
    $11,565,000
    Show details
    Cap Rate Potential
    3%
    Apartment buildings
    Location Intelligence
    Property ID
    US10-2699862
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Green Villa Apartments / Apartment Building

    Property Details for 1298 Tripp Ave

    Year built
    1960
    Construction
    WOOD
    Lot size
    0.77 lot acres
    Property size
    17,494 SF
    Zone code
    RM
    Property type
    Apartment buildings
    APN
    249-66-040
    APU
    24966040

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $12,185,000
      ML approach
      $8,455,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,275,000
      Market price range: $2.37M - $11.3M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $7,435,000
      Current use
      WAREHOUSE, STORAGE
      $8,005,000
      Change: +8% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.87
    Latitude
    37.3533
    CBSA code
    41940
    CBSA name
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $122,450
    $1,692,288
    $7,775,607
    $9,467,895
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.01 Acres

      San Jose, CA 95116

      APARTMENT HOUSE (5+ UNITS) • 0.01 Acres
      San Jose, CA 95116
      View Details
    • Value Estimation
      $2,070,000
      12,900 SF

      1259 Sunny Ct

      APARTMENT HOUSE (5+ UNITS) • 12,900 SF
      1259 Sunny Ct, San Jose, CA 95116-2863
      View Details
    • Value Estimation
      $1,725,000
      7,030 SF

      1180 Peach Ct

      APARTMENT HOUSE (5+ UNITS) • 7,030 SF
      1180 Peach Ct, San Jose, CA 95116-2815
      View Details
    • Value Estimation
      $14,645,000
      71,738 SF

      305 San Antonio Ct

      APARTMENT HOUSE (5+ UNITS) • 71,738 SF
      305 San Antonio Ct, San Jose, CA 95116-3135
      View Details
    • Value Estimation
      $3,500,000
      2,400 SF

      1936 Alum Rock Ave

      APARTMENT HOUSE (5+ UNITS) • 2,400 SF
      1936 Alum Rock Ave, San Jose, CA 95116-2003
      View Details
    • Value Estimation
      $1,210,000
      4,910 SF

      1348 Danube Way

      APARTMENT HOUSE (5+ UNITS) • 4,910 SF
      1348 Danube Way, San Jose, CA 95116-3329
      View Details

    Similar Nearby for Sale

    • $3,900,000
      10,260 SF

      San Jose Apartment Building For Sale

      13-unit apartment building with assumable financing and upside potential.
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    • $999,000

      Spacious Duplex on Large Lot

      Versatile duplex with income potential, large lot, convenient location.
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    • $879,000

      San Jose Duplex Opportunity

      Duplex in San Jose near shopping, hospitals, and highways.
      230 Montclair Ave, San Jose, CA 95116
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    • $1,150,000

      San Jose Income Property

      Income property with upside potential near downtown San Jose.
      86-88 Eastwood Ct, San Jose, CA 95116
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    • $3,500,000
      2,828 SF

      Nightclub and Redevelopment Opportunity

      Profitable nightclub with redevelopment potential in San Jose, CA.
      2021 Alum Rock Ave, San Jose, CA 95116
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    • $2,499,000

      Industrial Warehouse For Sale

      Industrial warehouse suitable for investors or owner-users.
      1148 E San Antonio St, San Jose, CA 95116
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    Similar Nearby for Lease

    • $5,000 /Mo

      San Jose Specialty Property

      Specialty property available for rent in San Jose, CA.
      1393 Shortridge Ave, San Jose, CA 95116
      View Details
    • Contact for pricing
      2,877 SF

      San Jose Specialty Property Available

      Specialty property available for rent in San Jose, California.
      370 South 22Nd St, San Jose, CA 95116
      View Details
    • $42 SF/Yr
      2,617 SF

      San Jose Office Space Available

      Office space available for lease in San Jose, California.
      1653 Mckee Rd, San Jose, CA 95116
      View Details
    • Contact for pricing
      5,754 SF

      San Jose Warehouse Space For Lease

      East San Jose industrial warehouse, 2,877 SF available.
      370 22Nd St, San Jose, CA 95116
      View Details
    • Contact for pricing
      1,800 SF

      Restaurant Ready Space Available

      Restaurant and drive-thru pad available near regional medical center.
      2102 Mckee Rd, San Jose, CA 95116
      View Details
    • $2 SF/Yr
      1,186 SF

      Professional Office Suite for Rent

      Office suite featuring private offices, reception, and ample storage.
      1865 Alum Rock Ave, San Jose, CA 95116
      View Details
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    1298 Tripp Ave
    San Jose, CA 95116-1050
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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