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457 S 10th St

9 Unit Apartment Building $2,725,000 ($302,778/Unit) 4.69% Cap Rate San Jose, CA 95112

INVESTMENT HIGHLIGHTS

  • Steps Away From San Jose State University
  • Exterior Renovation
  • Large Units

EXECUTIVE SUMMARY

The R&Z Group of Compass Commercial is thrilled to present 457 S 10th St, San Jose, CA 95112—an exceptional investment opportunity in the heart of Santa Clara County! This vibrant, 9-unit apartment complex is located in Downtown San Jose, just steps from San Jose State University, offering a prime location for both investors and tenants alike. This property features a versatile unit mix of (9) 1 bedroom, 1-bath apartments, each with designated carports and access to an on-site laundry facility. With approximately 5,847 square feet of living space on a 0.15-acre lot, the complex provides an attractive blend of comfort and convenience for tenants, while offering substantial rental income potential for investors. What truly sets 457 S 10th St apart is its unbeatable location. Its proximity to San Jose State University makes it an ideal housing option for students, ensuring consistently high demand and low vacancy rates. The surrounding area offers even more appeal—located less than a mile from San Pedro Square and with easy access to Highways 280, 101, and 680, this property puts all of San Jose’s top attractions and major employers within reach. Major tech and business hubs, including Cisco, PayPal, FICO, Zoom, Western Digital, Adobe, and Apple headquarters, are all just a short commute away. This is a rare chance to invest in one of San Jose’s most sought-after areas. Don’t let this opportunity pass you by! Contact The R&Z Group of Compass Commercial today to schedule a viewing and secure 457 S 10th St as your next standout investment. Due Diligence: https://forms.gle/b8hEY1HfmC5uLDQW9

FINANCIAL SUMMARY (ACTUAL - 2023)

ANNUAL ANNUAL PER SF
Gross Rental Income $203,652 $34.83
Other Income $624 $0.11
Vacancy Loss $6,110 $1.04
Effective Gross Income $198,166 $33.89
Taxes $31,310 $5.35
Operating Expenses $39,981 $6.84
Total Expenses $71,291 $12.19
Net Operating Income $126,875 $21.70

FINANCIAL SUMMARY (ACTUAL - 2023)

Gross Rental Income
Annual $203,652
Annual Per SF $34.83
Other Income
Annual $624
Annual Per SF $0.11
Vacancy Loss
Annual $6,110
Annual Per SF $1.04
Effective Gross Income
Annual $198,166
Annual Per SF $33.89
Taxes
Annual $31,310
Annual Per SF $5.35
Operating Expenses
Annual $39,981
Annual Per SF $6.84
Total Expenses
Annual $71,291
Annual Per SF $12.19
Net Operating Income
Annual $126,875
Annual Per SF $21.70

PROPERTY FACTS

Price $2,725,000
Price Per Unit $302,778
Sale Type Investment
Cap Rate 4.69%
Sale Condition 1031 Exchange
Gross Rent Multiplier 13.38
No. Units 9
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.15 AC
Building Size 5,847 SF
Average Occupancy 100%
No. Stories 3
Year Built 1960
Parking Ratio 1.54/1,000 SF

UNIT AMENITIES

  • Kitchen
  • Tub/Shower

SITE AMENITIES

  • Laundry Facilities

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 9 - 650
Walk Score®
Very Walkable (88)
Bike Score®
Biker's Paradise (98)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
467-49-005
Land Assessment
$1,785,000
Improvements Assessment
$1,096,500
Total Assessment
$2,881,500
Annual Taxes
$31,310 ($5.35/SF)
Tax Year
2023

ZONING

Zoning Code RN (Residential Neighborhood)
RN (Residential Neighborhood)
  • Listing ID: 33357304

  • Date on Market: 9/30/2024

  • Last Updated:

  • Address: 457 S 10th St, San Jose, CA 95112

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