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1352 Carnelian Dr 4 Unit Apartment Building $1,833,893 CAD ($458,473 CAD/Unit) 5.16% Cap Rate San Jose, CA 95122
Investment Highlights
- Prime Silicon Valley Location Near Major Tech Employers Including Apple, Google, and Tesla
- Walking Distance to Grand Century Shopping Mall with Dining, Shopping, And Entertainment Options
- Four-Unit Apartment Complex Situated on A 0.16-Acre Lot with Approximately 3,214 Square Feet
- Proximity To San Jose State University, Santa Clara University, And Local Attractions Like Happy Hollow Park and Zoo
Executive Summary
Marcus & Millichap is pleased to present the investment opportunity located at 1352 Carnelian Drive in San Jose, California. This attractive, four-unit apartment complex is situated on a parcel of land totaling 0.16 acres and features a gross building area of approximately 3,214 square feet. Built in 1962, the property sits near Downtown San Jose and is within walking distance to the Walmart-anchored Grand Century Shopping Mall, home to a myriad of dining, shopping, and entertainment options. Likewise, the property is just blocks away from the Happy Hollow Park and Zoo, an exciting entertainment venue for people of all ages. The multifamily building also sits near San Jose State University and the historic Santa Clara University, ranked 54th nationally for undergraduate programs and 11th nationally for the executive MBA program based on U.S. News & World Report rankings. As part of Silicon Valley, this location offers renters quick access to many of the nation’s top tech employers, including Apple, Google, Tesla, Facebook, IBM, Intel, Yahoo, Cisco Systems, Adobe Systems, and LinkedIn, as well as many others. Overall, the investment appeal of this asset is driven by San Jose’s strong employment fundamentals and low vacancy levels. With a world-class location in Silicon Valley, 1352 Carnelia Drive presents an attractive choice for South Bay renters thanks to its proximity to major employers, transportation corridors, shopping, dining, and entertainment options
Property Facts
| Price | $1,833,893 CAD | Building Class | C |
| Price Per Unit | $458,473 CAD | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 3,626 SF |
| Cap Rate | 5.16% | Average Occupancy | 97% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 2/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R3H, San Jose - High Density Residential | ||
| Price | $1,833,893 CAD |
| Price Per Unit | $458,473 CAD |
| Sale Type | Investment |
| Cap Rate | 5.16% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,626 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 2/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3H, San Jose - High Density Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 477-32-187 | Improvements Assessment | $356,458 CAD |
| Land Assessment | $356,458 CAD | Total Assessment | $712,915 CAD |
Property Taxes
Parcel Number
477-32-187
Land Assessment
$356,458 CAD
Improvements Assessment
$356,458 CAD
Total Assessment
$712,915 CAD
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1352 Carnelian Dr
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