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393 N 5th St 12 Unit Apartment Building $4,332,625 CAD ($361,052 CAD/Unit) 5.11% Cap Rate San Jose, CA 95112
INVESTMENT HIGHLIGHTS
- Sb 721 Complete.
- 2 Block away from San Jose Japan Town.
- Roof replaced in 2024.
- Close proximity to San Jose State University and Downtown.
EXECUTIVE SUMMARY
Positioned on a desirable corner lot in the Hensley Neighborhood, this well-located multifamily asset offers investors a rare opportunity to own in the heart of Downtown San Jose, less than one mile from San Jose State University and the city’s urban core. The property benefits from strong rental demand driven by one of the most dynamic employment and educational hubs in Silicon Valley.
The asset consists of 12 residential units with an attractive and highly marketable unit mix of (3) 2BD/1BA units, (8) 1BD/1BA units, and (1) studio, along with a coin-operated laundry facility providing an additional income stream. Tenants enjoy immediate access to downtown San Jose’s dining, retail, nightlife, and cultural amenities, as well as proximity to San José State University—one of the top-ranked public universities in the nation, ensuring consistent tenant demand.
Spanning 7,924 square feet and situated on a 10,764 square foot lot, the property is constructed on a cinderblock and concrete perimeter foundation with crawlspace access, offering long-term durability. Parking is well above average for the submarket, featuring 12 total spaces including 4 tuck-under and 8 uncovered stalls, all assigned to tenants. Each unit is further enhanced with a private balcony, and the centrally located courtyard creates a communal atmosphere rarely found in comparable assets.
The property has seen some improvements, including a newer roof that was replaced in 2024. Interior finishes across most units include updated carpet flooring, with original cabinetry and countertops, presenting a clear value-add pathway for investors seeking to modernize interiors and capture rental upside.All Units are equipped with white appliances and wall furnaces for heating.
This offering represents a compelling opportunity for Bay Area investors seeking stable in-place income, strong fundamentals, and future upside in one of San Jose’s most supply-constrained rental markets.
The asset consists of 12 residential units with an attractive and highly marketable unit mix of (3) 2BD/1BA units, (8) 1BD/1BA units, and (1) studio, along with a coin-operated laundry facility providing an additional income stream. Tenants enjoy immediate access to downtown San Jose’s dining, retail, nightlife, and cultural amenities, as well as proximity to San José State University—one of the top-ranked public universities in the nation, ensuring consistent tenant demand.
Spanning 7,924 square feet and situated on a 10,764 square foot lot, the property is constructed on a cinderblock and concrete perimeter foundation with crawlspace access, offering long-term durability. Parking is well above average for the submarket, featuring 12 total spaces including 4 tuck-under and 8 uncovered stalls, all assigned to tenants. Each unit is further enhanced with a private balcony, and the centrally located courtyard creates a communal atmosphere rarely found in comparable assets.
The property has seen some improvements, including a newer roof that was replaced in 2024. Interior finishes across most units include updated carpet flooring, with original cabinetry and countertops, presenting a clear value-add pathway for investors seeking to modernize interiors and capture rental upside.All Units are equipped with white appliances and wall furnaces for heating.
This offering represents a compelling opportunity for Bay Area investors seeking stable in-place income, strong fundamentals, and future upside in one of San Jose’s most supply-constrained rental markets.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$348,268
|
$19.91
|
| Other Income |
$832
|
$0.05
|
| Vacancy Loss |
$10,448
|
$0.60
|
| Effective Gross Income |
$338,652
|
$19.36
|
| Taxes |
$52,165
|
$2.98
|
| Operating Expenses |
$65,178
|
$3.73
|
| Total Expenses |
$117,343
|
$6.71
|
| Net Operating Income |
$221,309
|
$12.65
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $348,268 |
| Annual Per SF | $19.91 |
| Other Income (CAD) | |
|---|---|
| Annual | $832 |
| Annual Per SF | $0.05 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $10,448 |
| Annual Per SF | $0.60 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $338,652 |
| Annual Per SF | $19.36 |
| Taxes (CAD) | |
|---|---|
| Annual | $52,165 |
| Annual Per SF | $2.98 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $65,178 |
| Annual Per SF | $3.73 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $117,343 |
| Annual Per SF | $6.71 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $221,309 |
| Annual Per SF | $12.65 |
PROPERTY FACTS
| Price | $4,332,625 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $361,052 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.25 AC |
| Cap Rate | 5.11% | Building Size | 7,924 SF |
| Gross Rent Multiplier | 12.44 | No. Stories | 2 |
| No. Units | 12 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1.51/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R4 | ||
| Price | $4,332,625 CAD |
| Price Per Unit | $361,052 CAD |
| Sale Type | Investment |
| Cap Rate | 5.11% |
| Gross Rent Multiplier | 12.44 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 7,924 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.51/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 3 | $2,516 CAD | - |
| 1+1 | 8 | $1,941 CAD | - |
| Studios | 1 | $2,149 CAD | - |
1 1
Walk Score®
Very Walkable (86)
Bike Score®
Biker's Paradise (96)
PROPERTY TAXES
| Parcel Number | 249-46-080 | Total Assessment | $401,091 CAD |
| Land Assessment | $58,547 CAD | Annual Taxes | $52,165 CAD ($6.58 CAD/SF) |
| Improvements Assessment | $342,543 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
249-46-080
Land Assessment
$58,547 CAD
Improvements Assessment
$342,543 CAD
Total Assessment
$401,091 CAD
Annual Taxes
$52,165 CAD ($6.58 CAD/SF)
Tax Year
2025
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