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Fully Leased 14 Unit Apartment Bldg. For Sale 5390 Carryback Ave

14 Unit Block of Flats £5,091,450 (£363,675/Unit) 4.83% Net Initial Yield San Jose, CA 95111

Investment Highlights

  • Fully Leased 14-Unit Apartment Building For Sale
  • Two (2) 3 BD/2 BTH Units, Ten (10) 2 BD/1 BTH Units, and Two (2 BD/1BTH Townhome Units)
  • Covered Car-Port Parking
  • 3 Separate Buildings on a 27,500 SF Lot
  • Large 0.63 AC Corner Lot
  • Built in 1980

Executive Summary

5390 Carryback Ave, San Jose is a fully leased 14-unit apartment building which consists of 3 separate buildings on a single 27,500 square foot parcel. Desirable Unit Mix - Two (2) 3 Bedroom/2 Bathroom Units, Ten (10) 2 Bedroom/1 Bathroom units, and Two (2 Bedroom/1Bathroom Townhome units). Large corner lot. The property was built in 1980. Covered Car-Port Parking. The property is in the Oak Grove School District, Edenvale Elementary School, Davis Intermediate School, and Oak Grove High School. The property is located off Monterey Road, near Blossom Hill Road and Highway 101. The property is in the (R-M) Multiple Residence District Zoning designation and in the (RN) Residential Neighborhood general plan designation. Average Household income of $116,000 in a 1-mile radius from the property.

Property Facts

Price £5,091,450
Price Per Unit £363,675
Sale Type Investment
Net Initial Yield 4.83%
Gross Rent Multiplier 15.35
No. Units 14
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.63 AC
Building Size 12,292 SF
Average Occupancy 100%
Number of Floors 2
Year Built 1980
Parking Ratio 1.3/1,000 SF

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
2+1 12 - 857
3+2 2 - 1,000

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
684-38-075
Land Assessment
£995,336
Improvements Assessment
£1,538,248
Total Assessment
£2,533,584

zoning

Zoning Code R-M (R-M (Multiple Residence District))
R-M (R-M (Multiple Residence District))
  • Listing ID: 33301212

  • Date on Market: 25/09/2024

  • Last Updated:

  • Address: 5390 Carryback Ave, San Jose, CA 95111

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