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1451 N 1st St
San Jose, CA 95112
Multifamily Property For Sale
·
5 Units
Investment Highlights
- Prime San Jose Location – Well-positioned investment opportunity in one of the South Bay’s most desirable and dynamic markets.
- Renovated Interiors – Units feature upgraded finishes including dual-pane windows, updated electrical panels, and modern interior enhancements.
- Excellent Connectivity – Convenient access to I-280 and major transportation corridors provides seamless travel throughout the Bay Area.
- SB 721 Compliant – All required structural improvements have been completed, achieving full SB 721 compliance as of 2026.
- Attractive Unit Mix – Offers spacious studio, one-bedroom, and two-bedroom floor plans designed to appeal to a broad tenant base.
Executive Summary
1451 N 1st St is a centrally located 5-unit multifamily investment opportunity in the thriving city of San Jose, California.
Situated on a 5,522-square-foot parcel, the property was originally constructed in 1953 and comprises approximately 3,175 square feet of gross building area. The asset offers a desirable unit mix of two-bedroom, one-bedroom, and studio floor plans. Unit interiors have been upgraded with dual-pane windows, updated electrical panels, and individual water heaters, while select residences feature vinyl plank flooring, granite countertops, and stainless steel appliances. Residents also benefit from private covered carport parking and an on-site laundry facility.
The property is strategically located near Downtown San Jose and the Target-anchored San Jose Market Center, providing convenient access to a wide variety of shopping, dining, and entertainment destinations. Additionally, the asset is minutes from San Jose Mineta International Airport (SJC), one of Northern California’s busiest airports, offering extensive domestic and international travel options.
1451 N 1st St also benefits from its proximity to major educational institutions, including San Jose State University and Santa Clara University. The surrounding area is home to many of the region’s largest employers, including Adobe, Cisco, Deloitte, PwC, and Santa Clara Valley Medical Center, among numerous other technology, healthcare, and professional services companies.
The investment appeal of the property is supported by San Jose’s strong employment base, low vacancy rates, and position within the heart of Silicon Valley. With convenient access to major employers, transportation corridors, retail amenities, and entertainment destinations, 1451 N 1st St offers an attractive housing option for South Bay renters and a compelling long-term investment opportunity.
Situated on a 5,522-square-foot parcel, the property was originally constructed in 1953 and comprises approximately 3,175 square feet of gross building area. The asset offers a desirable unit mix of two-bedroom, one-bedroom, and studio floor plans. Unit interiors have been upgraded with dual-pane windows, updated electrical panels, and individual water heaters, while select residences feature vinyl plank flooring, granite countertops, and stainless steel appliances. Residents also benefit from private covered carport parking and an on-site laundry facility.
The property is strategically located near Downtown San Jose and the Target-anchored San Jose Market Center, providing convenient access to a wide variety of shopping, dining, and entertainment destinations. Additionally, the asset is minutes from San Jose Mineta International Airport (SJC), one of Northern California’s busiest airports, offering extensive domestic and international travel options.
1451 N 1st St also benefits from its proximity to major educational institutions, including San Jose State University and Santa Clara University. The surrounding area is home to many of the region’s largest employers, including Adobe, Cisco, Deloitte, PwC, and Santa Clara Valley Medical Center, among numerous other technology, healthcare, and professional services companies.
The investment appeal of the property is supported by San Jose’s strong employment base, low vacancy rates, and position within the heart of Silicon Valley. With convenient access to major employers, transportation corridors, retail amenities, and entertainment destinations, 1451 N 1st St offers an attractive housing option for South Bay renters and a compelling long-term investment opportunity.
Property Facts
| Price Per Unit | $443,205 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 5.40% | Building Size | 3,175 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.98 | No. Stories | 2 |
| No. Units | 5 | Year Built/Renovated | 1954/2025 |
| Property Type | Multifamily | Parking Ratio | 1.57/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | N/Av, San Jose | ||
| Price Per Unit | $443,205 CAD |
| Sale Type | Investment |
| Cap Rate | 5.40% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 11.98 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,175 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1954/2025 |
| Parking Ratio | 1.57/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | N/Av, San Jose |
Amenities
Unit Amenities
- Storage Space
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $2,694 CAD | 475 |
| 1+1 | 2 | $3,141 CAD | 575 |
| 2+1 | 2 | $3,377 CAD | 775 |
Property Taxes
| Parcel Number | 230-30-108 | Improvements Assessment | $542,541 CAD |
| Land Assessment | $473,620 CAD | Total Assessment | $1,016,161 CAD |
Property Taxes
Parcel Number
230-30-108
Land Assessment
$473,620 CAD
Improvements Assessment
$542,541 CAD
Total Assessment
$1,016,161 CAD
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