1530 San Carlos St San Jose, CA 95126-3237
- Apartment buildings
- 5,144 SF
- 0.60 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1530 San Carlos St
- Year built
- 1925
- Construction
- WOOD
- Lot size
- 0.60 lot acres
- Property size
- 5,144 SF
- Zone code
- R-M
- Property type
- Apartment buildings
- APN
- 277-18-019
- APU
- 27718019
Description
This exceptional redevelopment opportunity in Midtown San Jose presents a fully entitled mixed-use project encompassing 237 residential units and 16,980 square feet of commercial space. Situated on 1.34 acres at 1530 W San Carlos Street, San Jose, CA 95126, this Class A property offers 353,793 square feet of gross building area across eight stories plus basement parking. The project includes 198 parking stalls, an automatic car parking indicator system, and eight affordable one-bedroom, one-bathroom units. In-lieu fees will be paid to provide additional offsite affordable housing. The modern architectural design features abundant natural light, with exterior finishes incorporating exposed concrete, metal panels, stucco, and wood, complemented by mid-century modern aesthetic details such as neon signage and perforated metal screens. This property is zoned for Urban Village and is part of the West San Carlos urban village plan. The asking price is $32,000,000, representing a compelling value given the potential for maximizing units per acre. This can be purchased as a stand-alone development or combined with an adjacent property for a larger, 493-unit project with 33,000 square feet of retail space. The combined assemblage comprises seven lots across 2.97 acres.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,785,000
- 6.5%
- $1,645,000
- 7%
- $1,530,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,076,000
Market price range: $223k - $1.08M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $1,950,000 Current use
- WAREHOUSE, STORAGE
- $2,355,000 Change: +21% Conversion: Difficult
- OFFICE BUILDING
- $1,855,000 Change: -5% Conversion: Moderate
- RETAIL STORES
- $1,605,000 Change: -18% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- San Jose
- County
- Santa Clara
- State
- California
- Longitude
- -121.918
- Latitude
- 37.3228
- CBSA code
- 41940
- CBSA name
- SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA
