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    2994 Huff Ave San Jose, CA 95128-3015

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    2994 Huff Ave San Jose, CA 95128-3015

    View on Map
    • Apartment buildings
    • 7,710 SF
    • 0.26 lot acres
    Off-Market
    Last Sale Jan 25, 2025
    $3,250,000
    Property ID
    US09-1765351
    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.
    Value Estimations
    $2,825,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Horus Jewelry / (Bike/Boat/Book/etc) Store

    Property Details for 2994 Huff Ave

    Year built
    1960
    Construction
    WOOD
    Lot size
    0.26 lot acres
    Property size
    7,710 SF
    Zone code
    RM
    Property type
    Apartment buildings
    APN
    279-07-040
    APU
    27907040

    Description

    This exceptional 12-unit apartment building in San Jose, California presents a compelling investment opportunity. Located near Santana Row in a desirable neighborhood, this property boasts a strong current income stream and significant potential for future equity growth. The building, constructed in 1960, comprises 7,710 square feet and sits on a spacious 11,400 square foot lot. The unit mix includes nine one-bedroom/one-bathroom and three two-bedroom/one-bathroom units, currently enjoying 100% occupancy. The property generates a Net Operating Income (NOI) of $171,206, with a pro-forma NOI of $212,554, reflecting a current cap rate of 4.89% and a pro-forma cap rate of 6.07%. The asking price is $3,500,000, translating to $453.96 per square foot and $291,667 per unit. The land value is $307 per square foot. This prime location offers convenient access to major employers like Google, eBay, and numerous tech companies, as well as educational institutions such as San Jose City College and San Jose State University. Excellent freeway access via Highways 880, 280, and 87 further enhances its appeal. The property's strong performance, prime location, and potential for value appreciation make it an attractive addition to any investment portfolio. The building consists of two stories. The APN is 279-07-040. The property is located at 2994 Huff Ave, San Jose, CA 95128.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,675,000
      6.5%
      $2,465,000
      7%
      $2,290,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,340,000
      Market price range: $2.34M - $5.07M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,415,000
      Current use
      RETAIL STORES
      $4,265,000
      Change: +25% Conversion: Difficult
      OFFICE BUILDING
      $3,665,000
      Change: +7% Conversion: Moderate
      WAREHOUSE, STORAGE
      $3,530,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.948
    Latitude
    37.3134
    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
    $10,036
    $71,992
    $264,305
    $336,297
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.81 Acres

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    • Value Estimation by Request
      18.12 Acres

      1445 Bascom Ave

      APARTMENT HOUSE (5+ UNITS) • 18.12 Acres
      1445 Bascom Ave, San Jose, CA 95128-4504
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    • Value Estimation by Request
      1.34 Acres

      1445 Bascom Ave

      APARTMENT HOUSE (5+ UNITS) • 1.34 Acres
      1445 Bascom Ave, San Jose, CA 95128-4504
      View Details
    • Value Estimation
      $4,460,000
      23,986 SF

      770 Winchester Blvd

      APARTMENT HOUSE (5+ UNITS) • 23,986 SF
      770 Winchester Blvd, San Jose, CA 95128-1529
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    • Value Estimation
      $4,360,000
      23,470 SF

      1365 Castlemont Ave

      APARTMENT HOUSE (5+ UNITS) • 23,470 SF
      1365 Castlemont Ave, San Jose, CA 95128-4480
      View Details
    • Value Estimation
      $1,215,000
      3,570 SF

      794 Deland Ave

      APARTMENT HOUSE (5+ UNITS) • 3,570 SF
      794 Deland Ave, San Jose, CA 95128-3219
      View Details

    Similar Nearby for Sale

    • $1,899,950
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      San Jose Multifamily Investment Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      1,050 SF

      San Jose Multifamily Property

      Multifamily property available for rent in San Jose, CA.
      1017 S Bascom Ave, San Jose, CA 95128
      View Details
    • Contact for pricing
      821 SF

      San Jose Office Space Available

      Office space for rent with flexible lease terms.
      1245-1275 S Winchester Blvd, San Jose, CA 95128
      View Details
    • Contact for pricing
      10,622 SF

      Freestanding Building in Silicon Valley

      Two-story office building centrally located near Valley Medical Center.
      2695 Moorpark Ave, San Jose, CA 95128
      View Details
    • Contact for pricing
      21,314 SF

      Office Space on Santana Row

      Second floor office suite with a private terrace.
      334-356 Santana Row, San Jose, CA 95128
      View Details
    • Contact for pricing
      10,000 SF

      Retail Space Available For Rent

      Retail space available at a prominent Silicon Valley intersection.
      2880 Stevens Creek Blvd, San Jose, CA 95128
      View Details
    • Contact for pricing
      1,475 SF

      Retail Space on Winchester Boulevard

      Retail space with high visibility near Santana Row.
      812-820 S Winchester Blvd, San Jose, CA 95128
      View Details
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    2994 Huff Ave
    San Jose, CA 95128-3015
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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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