3158 Impala Dr - Apartments FOR SALE


San Jose, CA 95117- Cadillac East
$1,675,000 USD
510-599-4410
3158 Impala Dr, San Jose, CA for Sale
$1,675,000 USD
Apartments - FOR SALE
1/10
null | 4.29% Cap Rate

3158 Impala Dr
San Jose, CA 95117
Cadillac East


OVERVIEW

***** OPEN HOUSE - Tuesday July 7th, 3pm - 4pm ***** Marcus & Millichap presents 3158 Impala Drive, a 6-unit apartment community in the highly desirable Cadillac East neighborhood of West San Jose. Built in 1959 on a 0.15-acre lot, the 3,834-square-foot asset offers a clean, efficient unit mix of four 1BD/1BA and two 2BD/1BA units, with individually metered electric and gas keeping operations simple and low-cost. Offered at $1,675,000 ($279,167/unit), the property is generating a 4.29% current cap rate with a clear path to 5.46% pro forma as in-place rents (averaging $1,723) close the gap to market rents (averaging $2,067) — a 17% mark-to-market opportunity driven by natural turnover and light interior upgrades. Location is a core driver of demand: Walk Score 81, Bike Score 76, and immediate access to I-280, I-880/SR-17, and San Tomas Expressway. Santana Row and Westfield Valley Fair are 1.5 miles away, VTA bus and Hamilton Train Station are within a mile, and San Jose Mineta International Airport is a 4.5-mile drive. The trade area boasts a $153,002 median household income and 66% renter-occupied households, anchored by major employers including Apple, Adobe, Nvidia, Cisco, and eBay. A rare fee-simple offering combining stable current income with embedded upside in one of the Bay Area's most supply-constrained rental submarkets. Property Highlights 6-unit multifamily asset in West San Jose's Cadillac East neighborhood $1,675,000 list price / $279,167 per unit / $437 per SF 4.03% current cap rate; 5.46% pro forma cap rate 13.50 current GRM; 11.26 pro forma GRM Unit mix: four 1BD/1BA, two 2BD/1BA (average 639 SF) ~17% mark-to-market rent upside ($1,723 current vs. $2,067 market average) Individually metered electric and gas; master-metered water/sewer Ancillary laundry income Walk Score 81, Bike Score 76 1.5 miles to Santana Row and Westfield Valley Fair Immediate access to I-280, I-880/SR-17, San Tomas Expressway 4.5 miles to San Jose Mineta International Airport $153,002 median household income within 3 miles; 66% renter-occupied Minutes from Apple, Adobe, Nvidia, Cisco, eBay, and Santa Clara Valley Medical Center Both listing agents are owners of the property.

FOR SALE DETAILS

PRICE

$1,675,000 USD

PRICE/SF

$437 USD /SF

# OF UNITS

6

PRICE/UNIT

$279,167

CAP RATE

4.29%

% 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

1959

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

R3, San Jose

APN/PARCEL ID

305-03-040

ASK ABOUT THIS PROPERTY

Adam RichardsonMarcus & MillichapMore Info
510-599-4410

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Adam RichardsonMarcus & MillichapMore Info
510-599-4410

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