3061 David Ave - Apartments FOR SALE


San Jose, CA 95128- David-Rosemary
$1,928,000 USD
408-483-5040
3061 David Ave, San Jose, CA for Sale
$1,928,000 USD
Apartments - FOR SALE
1/20
null | 5.16% Cap Rate

3061 David Ave
San Jose, CA 95128
David-Rosemary


HIGHLIGHTS

  • Prime West San Jose Location
  • Ideally Positioned Between Downtown Campbell and Santana Row
  • Comprised Entirely of One-Bedroom / One-Bath Units
  • Average In-Place Rents of Approximately $2,033 Per Unit
  • High-Growth Submarket with Nearby Major Tech Companies and Supported by Pro-Density City Policies

OVERVIEW

Contact jcastellanos@marcusmillichap.com for OM and DD. BCG Multifamily is pleased to present 3061 David Avenue, a 6-unit multifamily property located in San Jose, California. Originally constructed in 1958, the asset sits on an approximately 6,600 square foot parcel and features a 2,910 square foot building. The property is comprised entirely of one-bedroom/one-bath units, offering a consistent and efficient unit mix that caters well to individual renters and couples seeking quality housing in a desirable Silicon Valley location. The building’s straightforward layout and manageable scale provide for ease of operation while maintaining a strong history of occupancy. The property benefits from an exceptional location within Silicon Valley, positioned between Historic Downtown Campbell and Santana Row—two of the area’s premier destinations for dining, retail, and entertainment. Residents enjoy convenient access to a wide array of neighborhood amenities including grocery stores, restaurants, and parks, as well as close proximity to major employment centers throughout the region. San Jose remains the economic engine of Silicon Valley, anchored by leading technology companies such as Apple, Google, Adobe, Cisco, and a robust ecosystem of emerging firms. Additionally, the property offers excellent connectivity via Highways 280, 880, and 17, along with convenient access to San Jose International Airport and nearby public transportation options. From an investment standpoint, 3061 David Avenue presents a stable, income-producing asset with minimal operational friction. The property currently achieves an average rent of approximately $2,033 per unit, which is estimated to be only 15% below current market levels. This close alignment with market rents reflects strong in-place income and reduces the need for significant repositioning, while still allowing for upside through organic rent growth and continued professional management. Given the strength of the surrounding rental market and the property’s highly desirable location, 3061 David Avenue offers investors the opportunity to acquire a well-performing asset with dependable cash flow and long-term stability in one of the nation’s most resilient rental markets.

FOR SALE DETAILS

PRICE

$1,928,000 USD

PRICE/SF

$663 USD /SF

# OF UNITS

6

PRICE/UNIT

$321,333

CAP RATE

5.16%

% LEASED

100%

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

10

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,599 SF

ZONING

RM

APN/PARCEL ID

279-26-057

ASK ABOUT THIS PROPERTY

Jimmy CastellanosMarcus & MillichapMore Info
408-483-5040

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

Jimmy CastellanosMarcus & MillichapMore Info
408-483-5040

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