3047 David Ave - Apartments FOR SALE


San Jose, CA 95128- David-Rosemary
$3,700,000 USD
408-483-5040
3047 David Ave, San Jose, CA for Sale
$3,700,000 USD
Apartments - FOR SALE
1/15
null | 4.37% Cap Rate

3047 David Ave
San Jose, CA 95128
David-Rosemary


HIGHLIGHTS

  • PRIME WEST SAN JOSE LOCATION
  • POSITIONED BETWEEN SANTANA ROW & HISTORIC DOWNTOWN CAMPBELL
  • DESIRABLE UNIT MIX 10 One-Bedroom & 4 Two-Bedroom Units
  • SIGNIFICANT RENTAL UPSIDE Approximately 30% Below Market Rents
  • THE PROPERTY OFFERS A CURRENT CAP RATE EXCEEDING 4.00%, WITH A PRO FORMA CAP RATE PROJECTED ABOVE 7.00%
  • EXCELLENT ACCESS TO HIGHWAYS 280, 880 & 17

OVERVIEW

Contact jcastellanos@marcusmillichap.com for OM. Jimmy Castellanos is pleased to present 3047 David Avenue, a 14-unit multifamily property in San Jose, California. Built in 1958, the property sits on a 13,200 square foot parcel and includes approximately 8,076 square feet of rentable space.The unit mix consists of ten one-bedroom/one-bath units and four two-bedroom/one-bath units, offering an efficient layout that appeals to a wide tenant base. The garden-style design allows for easy management and has historically supported strong occupancy. The property is ideally located between Historic Downtown Campbell and Santana Row, with convenient access to dining, retail, and entertainment. It is also within 3–5 miles of major tech employers, including Adobe, eBay, PayPal, Zoom, Western Digital, and Nutanix. The location also offers excellent connectivity via Highways 280, 880, and 17, further supporting strong tenant demand.

FOR SALE DETAILS

PRICE

$3,700,000 USD

PRICE/SF

$458 USD /SF

# OF UNITS

14

PRICE/UNIT

$264,286

CAP RATE

4.37%

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,199 SF

ZONING

R3, San Jose

APN/PARCEL ID

279-26-056

ASK ABOUT THIS PROPERTY

Jimmy CastellanosMarcus & MillichapMore Info
408-483-5040

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Jimmy CastellanosMarcus & MillichapMore Info
408-483-5040

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.