Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    710 23Rd St San Jose, CA 95112

    • Apartment buildings
    • 0.11 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-4993943
    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

    • The Villa Apartments / Apartment Building

    Property Details for 710 23Rd St

    Year built
    1901
    Lot size
    0.11 lot acres
    Zone code
    R1
    Property type
    Apartment buildings
    APN
    249-20-009
    APU
    24920009

    Description

    This exceptional 25-unit apartment building presents a compelling investment opportunity in San Jose, California. The property, encompassing approximately 24,491 square feet of net rentable space, sits on a sizable 35,324 square foot lot (0.81 acres). Constructed in 1962, the two-building complex features two stories and boasts a 96% occupancy rate, generating a current NOI of $503,722 and a pro-forma NOI of $552,395. The property includes a mix of one to three-bedroom units, offering a diverse range of living spaces. Convenient amenities include ample off-street parking and an on-site laundry facility. Its prime location at 710 N 23rd St, San Jose, CA 95112, places it within close proximity to San Jose State University (6 minutes away), Santa Clara University, and San Jose City College, making it attractive to students and faculty. The property's proximity to Japantown, downtown San Jose, and public transportation, including the Berryessa/North San Jose BART station, further enhances its appeal. The permitted zoning is MULTI-FAMILY RES (5+ units), offering potential for future development or expansion. This fee-simple ownership opportunity provides a strong foundation for long-term growth and profitability in a thriving San Jose market, just 4.5 miles from Norman Y. Mineta San Jose International Airport. The APN is 249-20-010.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.878
    Latitude
    37.3609
    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
    $5,725
    $474,117
    $0.00
    $474,117
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      19.94 Acres

      900 Golden Wheel Park Dr

      APARTMENT HOUSE (5+ UNITS) • 19.94 Acres
      900 Golden Wheel Park Dr, San Jose, CA 95112-1252
      View Details
    • Value Estimation by Request
      1.85 Acres

      1010 5th St

      APARTMENT HOUSE (5+ UNITS) • 1.85 Acres
      1010 5th St, San Jose, CA 95112
      View Details
    • Value Estimation by Request
      2.06 Acres

      680 6th St

      APARTMENT HOUSE (5+ UNITS) • 2.06 Acres
      680 6th St, San Jose, CA 95112-4343
      View Details
    • Value Estimation by Request
      2.98 Acres

      350 Taylor St

      APARTMENT HOUSE (5+ UNITS) • 2.98 Acres
      350 Taylor St, San Jose, CA 95112-3161
      View Details
    • Value Estimation by Request
      3.04 Acres

      350 Taylor St

      APARTMENT HOUSE (5+ UNITS) • 3.04 Acres
      350 Taylor St, San Jose, CA 95112-3161
      View Details
    • Value Estimation
      $2,960,000
      17,415 SF

      384 William St

      APARTMENT HOUSE (5+ UNITS) • 17,415 SF
      384 William St, San Jose, CA 95112-3899
      View Details

    Similar Nearby for Sale

    • $2,999,000
      5,521 SF

      San Jose Multifamily Investment Opportunity

      Centrally located 10-unit multifamily asset in vibrant Downtown San Jose.
      336 5Th St, San Jose, CA 95112
      View Details
    • Contact for pricing
      16,199 SF

      Extensively Renovated Multifamily Near University

      20-unit multifamily property near San Jose State University.
      508 11Th St, San Jose, CA 95112
      View Details
    • $1,650,000

      Multifamily Asset Near San Jose

      Two-story multifamily asset with positive cash flow potential.
      San Jose, CA 95112
      View Details
    • $1,525,000
      3,280 SF

      San Jose Multifamily Investment Opportunity

      Five-unit apartment complex in San Jose with diverse unit mix.
      Nordale Ave, San Jose, CA 95112
      View Details
    • Contact for pricing
      24,491 SF

      San Jose Multifamily Investment

      25-Unit Apartment Building, High NOI
      710 23Rd St, San Jose, CA 95112
      View Details
    • Contact for pricing
      4,817 SF

      San Jose Multifamily Investment Opportunity

      Well-maintained 6-unit building near San Jose State University.
      630 5Th St, San Jose, CA 95112
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

      Industrial Warehouse with Fenced Yard

      10,000 SF industrial warehouse with office and fenced yard.
      1771 Junction Ave, San Jose, CA 95112
      View Details
    • Contact for pricing
      1,300 SF

      San Jose Retail Space Available

      Retail spaces available in San Jose with ample parking.
      2350-2398 Senter Rd, San Jose, CA 95112
      View Details
    • Contact for pricing
      2,953 SF

      Retail and Restaurant Space Available

      Ground floor retail and restaurant spaces in Japantown neighborhood.
      620 N 6Th St, San Jose, CA 95112
      View Details
    • $1.70 SF/Yr
      27,860 SF

      San Jose Flex/Industrial Space

      27,860 SF flex/industrial space available for lease.
      215 Devcon Dr, San Jose, CA 95112
      View Details
    • $23 SF/Yr
      120,000 SF

      ReadySpaces San Jose: Industrial Space

      San Jose industrial space, flexible lease terms.
      205 Alma Ave, San Jose, CA 95112
      View Details
    • Contact for pricing
      41,006 SF

      Industrial Property with Heavy Zoning

      Industrial property featuring heavy zoning, yard, and highway access.
      2040 S 7Th St, San Jose, CA 95112
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    710 23Rd St
    San Jose, CA 95112
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.