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5390 Carryback Ave 14 Unit Apartment Building $6,287,924 CAD ($449,137 CAD/Unit) 5.42% Cap Rate San Jose, CA 95111
Investment Highlights
- 1980’s Construction – Not Subject to San Jose City Rent Control (Only State Rent Control)
- 23% Upside Potential – Room for Rent Increases through Turnover and Upgrades
- Proximity to Transit and Jobs – Minutes from Caltrain and major employers
- Strong Unit Mix includes large 3BD, 2BD, & Town-Home-Style Units
- Covered Parking + Private Spaces – A rare amenity in this Submarket
- Strong South San Jose Rental Market with Low Vacancy and Excellent Access to Major Silicon Valley Commuter Routes
Executive Summary
DD info: jcastellanos@marcusmillichap.com
1980's Construction, No City Rent Control // All Two-Bedroom & Three Bedroom Floor Plans // Strong In-Place Cap Rate 5.45% // 11.50 GRM! Jimmy Castellanos is pleased to present 5390 Carryback Avenue, a 14-unit multifamily community located in South San Jose, a gateway to Silicon Valleys innovation and employment base. Constructed in 1980, the property comprises approximately 12,292 square feet of rentable space situated on a 27,500 square foot parcel and is improved with three detached buildings, including two six-unit apartment buildings and one two-unit townhouse-style structure. The unit mix is highly desirable and includes two (2) three-bedroom, two-bath units with in-unit laundry, two (2) two-bedroom, one-bath townhouse-style units with in-unit laundry, and ten (10) two-bedroom, one-bath apartment units.
1980's Construction, No City Rent Control // All Two-Bedroom & Three Bedroom Floor Plans // Strong In-Place Cap Rate 5.45% // 11.50 GRM! Jimmy Castellanos is pleased to present 5390 Carryback Avenue, a 14-unit multifamily community located in South San Jose, a gateway to Silicon Valleys innovation and employment base. Constructed in 1980, the property comprises approximately 12,292 square feet of rentable space situated on a 27,500 square foot parcel and is improved with three detached buildings, including two six-unit apartment buildings and one two-unit townhouse-style structure. The unit mix is highly desirable and includes two (2) three-bedroom, two-bath units with in-unit laundry, two (2) two-bedroom, one-bath townhouse-style units with in-unit laundry, and ten (10) two-bedroom, one-bath apartment units.
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Property Facts
| Price | $6,287,924 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $449,137 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.63 AC |
| Cap Rate | 5.42% | Building Size | 12,292 SF |
| Gross Rent Multiplier | 11.52 | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Apartment | Parking Ratio | 1.3/1,000 SF |
| Zoning | R-M - R-M (Multiple Residence District) | ||
| Price | $6,287,924 CAD |
| Price Per Unit | $449,137 CAD |
| Sale Type | Investment |
| Cap Rate | 5.42% |
| Gross Rent Multiplier | 11.52 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.63 AC |
| Building Size | 12,292 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1980 |
| Parking Ratio | 1.3/1,000 SF |
| Zoning | R-M - R-M (Multiple Residence District) |
Amenities
Site Amenities
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | $3,556 CAD | 870 |
| 3+2 | 2 | $4,361 CAD | 1,000 |
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Property Taxes
| Parcel Number | 684-38-075 | Improvements Assessment | $2,787,090 CAD |
| Land Assessment | $1,803,409 CAD | Total Assessment | $4,590,498 CAD |
Property Taxes
Parcel Number
684-38-075
Land Assessment
$1,803,409 CAD
Improvements Assessment
$2,787,090 CAD
Total Assessment
$4,590,498 CAD
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5390 Carryback Ave
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