7487 Rogers Ln
5 Unit Apartment Building $1,760,000 ($352,000/Unit) 4.39% Cap Rate Gilroy, CA 95020
INVESTMENT HIGHLIGHTS
- Copper plumbing.
- Nearby Gilroy Gardens, Gilroy Premium Outlets and Casa de Fruta.
- Three car ports and five open assigned parking spaces.
EXECUTIVE SUMMARY
This well-maintained, cash-flowing 5-unit property in Gilroy is a rare find and won’t last long. Each of the spacious two-bedroom, one-bath units provides a strong, reliable income stream, making this an excellent addition to any investor’s portfolio.
With an on-site laundry room and a mix of covered and uncovered parking, this property offers key amenities that attract long-term tenants. Major upgrades have already been completed, including a partial sewer lateral replacement, full copper plumbing, and a durable roof and concrete driveway installed approximately 20 years ago.
The location is unbeatable. Situated between Eliot Elementary and South Valley Middle School, this property is perfect for families. It’s just minutes from Downtown Gilroy’s shops and restaurants, and right around the corner from major employers like Kaiser Hospital, Costco, and the Gilroy Premium Outlets. With quick access to major highways, tenants can easily commute to Silicon Valley, making this a highly desirable rental location.
Opportunities like this don’t come often. Secure this high-performing asset today before it’s gone!
With an on-site laundry room and a mix of covered and uncovered parking, this property offers key amenities that attract long-term tenants. Major upgrades have already been completed, including a partial sewer lateral replacement, full copper plumbing, and a durable roof and concrete driveway installed approximately 20 years ago.
The location is unbeatable. Situated between Eliot Elementary and South Valley Middle School, this property is perfect for families. It’s just minutes from Downtown Gilroy’s shops and restaurants, and right around the corner from major employers like Kaiser Hospital, Costco, and the Gilroy Premium Outlets. With quick access to major highways, tenants can easily commute to Silicon Valley, making this a highly desirable rental location.
Opportunities like this don’t come often. Secure this high-performing asset today before it’s gone!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$118,080
|
$30.46
|
| Other Income |
$2,400
|
$0.62
|
| Vacancy Loss |
$3,542
|
$0.91
|
| Effective Gross Income |
$116,938
|
$30.17
|
| Taxes |
$21,888
|
$5.65
|
| Operating Expenses |
$18,190
|
$4.69
|
| Total Expenses |
$40,078
|
$10.34
|
| Net Operating Income |
$76,860
|
$19.83
|
PROPERTY FACTS
| Price | $1,760,000 |
| Price Per Unit | $352,000 |
| Sale Type | Investment |
| Cap Rate | 4.39% |
| Gross Rent Multiplier | 15.2 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 3,876 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1977 |
| Parking Ratio | 2.84/1,000 SF |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 5 | $1,948 | 775 |
1 of 1
Bike Score®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | 841-53-004 | Total Assessment | $483,425 (2023) |
| Land Assessment | $207,181 (2023) | Annual Taxes | $21,888 ($5.65/SF) |
| Improvements Assessment | $276,244 (2023) | Tax Year | 2024 |
ZONING
| Zoning Code | R3, Gilroy (Residential) |
