982-998 The Alameda - Apartments FOR SALE


San Jose, CA 95126- St Leo's
$3,895,000 USD
408-893-8063
982-998 The Alameda, San Jose, CA for Sale
$3,895,000 USD
Apartments - FOR SALE
1/47
null | 5.64% Cap Rate

982-998 The Alameda
San Jose, CA 95126
St Leo's


OVERVIEW

CBRE, as exclusive listing agent, is pleased to present the opportunity to own 982-998 The Alameda in San Jose. The Property has been owned by the same family for 50+ years and boasts seven residential units and four ground floor retail units. The residential units are very large and consist of (4) Studios and (3) 1 Bed, 1 Bath floorplans. The retail spaces have all been improved by the tenants, and all tenants are operating successful businesses and have been at the property for 5+ years. Additionally, all units and the property systems have been well-maintained over the years and select units feature upgraded kitchens, countertops, cabinets, and bathrooms. Ownership has spent over $50,000 on capital improvements in 2025, which include but are not limited to: roof, two new water heaters, electrical subpanels, etc... This property presents an excellent value add opportunity through adjusting the full-service leases to NNN leases upon lease expiration, which will roughly capture a 35% rental premium to the in-place leases. Please contact the CBRE Listing Team for additional information or to schedule a property tour.

FOR SALE DETAILS

PRICE

$3,895,000 USD

PRICE/SF

$344 USD /SF

# OF UNITS

11

PRICE/UNIT

$354,091

CAP RATE

5.64%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Zavala

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1924

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

CG

APN/PARCEL ID

261-30-054

ASK ABOUT THIS PROPERTY

Adam FoleyCBREMore Info
408-893-8063

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Adam FoleyCBREMore Info
408-893-8063

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