1037 N 7th St
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1037 N 7th St
7 Unit Apartment Building $2,150,000 ($307,143/Unit) 5.50% Cap Rate San Jose, CA 95112
Investment Highlights
- Value Add Multifamily Asset in San Jose, CA
- Close Proximity to Downtown San Jose & SJSU
- Exceptional Unit Mix of One-and-Two Bed Units
- Strong in Place Cash Flow with Rental Upside Potential
Executive Summary
The Rubio Group of Marcus & Millichap is pleased to present 1037 N 7th Street, a seven apartment complex located in San Jose CA. 1037 N 7th Street was constructed in 1956 and offers 4,065 square feet of net rentable building area, situated on a 7,144 square foot lot. The asset is located within walking distance
of several schools, and within a five-minute drive of San Jose State University. 1037 N 7th Street property offers an exceptional unit mix of five, two-bed one bath units, one, one-bed, one bath unit and one studio, which have been well maintained but still offer a new investor the opportunity to upgrade them further and achieve full market rents.
of several schools, and within a five-minute drive of San Jose State University. 1037 N 7th Street property offers an exceptional unit mix of five, two-bed one bath units, one, one-bed, one bath unit and one studio, which have been well maintained but still offer a new investor the opportunity to upgrade them further and achieve full market rents.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,150,000 | Apartment Style | Low Rise |
| Price Per Unit | $307,143 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.50% | Building Size | 4,065 SF |
| Gross Rent Multiplier | 12.23 | Average Occupancy | 85% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 1.48/1,000 SF |
| Price | $2,150,000 |
| Price Per Unit | $307,143 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 12.23 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,065 SF |
| Average Occupancy | 85% |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 1.48/1,000 SF |
Unit Amenities
- Kitchen
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | $2,275 | 700 |
| 1+1 | 1 | $2,000 | 600 |
| Studios | 1 | $1,500 | 500 |
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Bike Score®
Biker's Paradise (93)
PROPERTY TAXES
| Parcel Number | 235-11-012 | Total Assessment | $125,401 |
| Land Assessment | $33,052 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $92,349 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
235-11-012
Land Assessment
$33,052
Improvements Assessment
$92,349
Total Assessment
$125,401
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | R3 |
| R3 |
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1037 N 7th St
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