Listed by Marcus & Millichap - Palo Alto
$1,525,000
655 Nordale Ave
Details
APN 477-29-059
Property Type Retail, Multifamily
Sub Type Apartment Building, Commercial
Square Footage 3,280
Units 5
Cap Rate 5.01%
NOI $76,476
Pro-Forma Cap Rate 6.33%
Pro-Forma NOI $96,520
Price per SqFt $465
Year Built 1962
Acreage 0.170
Ownership Fee Simple
Retail | 5.01% CAP | 3,280 SqFt
Marketing description
Marcus & Millichap is pleased to present 655 Nordale Avenue in San Jose, California. 655 Nordale Avenue is a five-unit apartment that was built in 1962 and sits on a 7,500 SF / 0.17 Acres lot. The property has one (1) Studio unit, three (3) 1 Bedroom x 1 Bathroom units, and one (1) 2 Bedroom x 1 Bathroom unit. The property offers on-site parking and a new roof that was installed in May 2025!
655 Nordale Avenue's prime location makes this an exceptional opportunity for investors. Downtown San Jose & San Jose State University is less than four miles from the property. Tenants have easy access to the many shops, restaurants, cafes, and entertainment that Downtown San Jose provides. Huge employers are located nearby, such as: PayPal, Adobe, Cisco Systems, Google, Facebook/Meta, and Apple are all less than 45 minutes away.
Known to the world as Silicon Valley, the San Jose metro is located at the southern end of the San Francisco Bay and encompasses Santa Clara and San Benito counties. A large portion of the area’s 1,315 square miles is unincorporated ranch and farmland.
The metro contains roughly 2 million inhabitants, and more than half of the region’s residents reside in the city of San Jose. It is the metro’s largest city with more than 1 million residents, followed by Sunnyvale and Santa Clara. Venture capital funds received in the 1990s helped turn the area into the world’s most prominent technology hub — a distinction that still stands today.
Investment highlights
- Five Unit Apartment in San Jose
- Brand New Roof Installed in May 2025
- Close Proximity to Kelley Park
- Lot Size: 7,500 SF / 0.17 Acres
- The San Jose employment base contains almost 1.1 million workers, ranking the metro as one of the 35 largest job markets in the nation.
- There are 17 Fortune 500 companies headquartered in San Jose, including Intel, Cisco Systems, Apple Inc., eBay, Netflix and Alphabet.
- The area’s many institutions of higher learning, including Stanford University, San Jose State University and Santa Clara University, support these companies by graduating thousands of engineering and computer science students each year
Listing Contacts
Listed by Marcus & Millichap - Palo Alto
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$76,476.00
$6,373.00/mo
Valuation Metrics
0
DSCR
5.01%
Cap Rate
5.01%
ROI
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