503 S Kiely Blvd
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503 S Kiely Blvd
4 Unit Apartment Building $1,850,000 ($462,500/Unit) 4.16% Cap Rate San Jose, CA 95117
Investment Highlights
- Excellent West San Jose investment just 5 minutes from Santana Row
- Close proximity to major tech employers including Apple and Nvidia
- Features key upgrades including stainless steel appliances, dual-pane windows, and more
- Pride-of-ownership asset with owner occupancy potential and strong upside in rents
- Great unit mix on large lot: (1) large 3BD/2BA, (2) spacious 2BD/1BA, and (1) 1BD/1BA
Executive Summary
We are pleased to present the opportunity to acquire 503 Kiely Blvd in West San Jose. This premium fourplex is located in a highly coveted neighborhood near Santana Row with strong upside in rents.
Situated in a top Bay Area housing market, this property presents an excellent investment opportunity for those seeking steady rental income and appreciation. It is a pride-of-ownership asset that also offers owner-occupancy potential.
Constructed in 1971, the property features a great unit mix with (1) three-bedroom/two-bathroom unit, (2) two-bedroom/one-bathroom and (1) one-bedroom/one-bathroom units, amounting to a building square feet of 4,040 on a large 9,585 square foot parcel. The units feature stainless steel appliances, dual-pane windows, and more.
The property is in close proximity to major tech employers including Apple and NVIDIA. Finally, it is less than a 10 minute drive to Westgate Mall and also features easy access to Highway 280 and San Tomas Expressway.
Situated in a top Bay Area housing market, this property presents an excellent investment opportunity for those seeking steady rental income and appreciation. It is a pride-of-ownership asset that also offers owner-occupancy potential.
Constructed in 1971, the property features a great unit mix with (1) three-bedroom/two-bathroom unit, (2) two-bedroom/one-bathroom and (1) one-bedroom/one-bathroom units, amounting to a building square feet of 4,040 on a large 9,585 square foot parcel. The units feature stainless steel appliances, dual-pane windows, and more.
The property is in close proximity to major tech employers including Apple and NVIDIA. Finally, it is less than a 10 minute drive to Westgate Mall and also features easy access to Highway 280 and San Tomas Expressway.
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 | $1,850,000 | Apartment Style | Low Rise |
| Price Per Unit | $462,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 4.16% | Building Size | 4,040 SF |
| Gross Rent Multiplier | 15.7 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1971 |
| Property Subtype | Apartment | Parking Ratio | 0.74/1,000 SF |
| Price | $1,850,000 |
| Price Per Unit | $462,500 |
| Sale Type | Investment |
| Cap Rate | 4.16% |
| Gross Rent Multiplier | 15.7 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 4,040 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1971 |
| Parking Ratio | 0.74/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $2,000 | 700 - 800 |
| 2+1 | 2 | $2,800 | 920 |
| 3+2 | 1 | $3,400 | 1,500 |
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Walk Score ®
Very Walkable (84)
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 303-25-036 | Total Assessment | $576,380 |
| Land Assessment | $244,201 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $332,179 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
303-25-036
Land Assessment
$244,201
Improvements Assessment
$332,179
Total Assessment
$576,380
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | R3H, San Jose |
| R3H, San Jose |
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503 S Kiely Blvd
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