2949-2951 Driftwood Drive, San Jose, CA 95128 2949 Driftwood Dr 2 Unit Apartment Building $2,608,204 CAD ($1,304,102 CAD/Unit) 5.61% Cap Rate San Jose, CA 95128

Exceptional Multi-Generational Living & Investment Opportunity in Prime Location! Offering flexibility, functionality, and strong income potential, this unique property is ideal for multi-generational living, owner-occupants seeking supplemental income, or investors looking for multiple revenue streams and long-term upside. Featuring two established units plus a versatile bonus space, the property offers flexible options for extended family living, rental income, guest quarters, work-from-home needs, or value-add opportunities. Projected rents support a compelling cap rate. All units have been consistently maintained and thoughtfully upgraded, minimizing near-term capital expenditures while enhancing long-term desirability. Outdoor amenities including a private courtyard, outdoor kitchen, and fire pit create an inviting environment for entertaining, relaxing, and extended living, while also supporting premium rental appeal. Additional highlights include flexible bonus space and rare stand-up attic storage. Located in a highly desirable rental area, this property presents an exceptional opportunity for investors seeking stable cash flow and upside potential, or for buyers looking to create a dynamic multi-generational lifestyle while building long-term equity.
Cap rate estimate includes rental income for three units, including what the Seller estimates the 3-bedroom unit would rent for. The property includes an unpermitted bonus room, currently generating $1,885/month in rental income for traveling nurses. The seller presently occupies one of the units (the 3 bedroom) but estimates that it could rent for approximately $5,000 per month if leased at market rate. All units are in great condition and look fantastic. This setup presents strong income potential and may be particularly attractive to investors seeking additional cash flow or to an owner-occupant interested in a house-hacking opportunity, living in one unit while offsetting expenses with rental income from the other spaces. No tenants are on property; property will be sold completely vacant. Please reach out to Kelly with any questions. Thank you!