3047 David Ave
Multifamily | 14 Units | $264,286/unit
Marketing description
Jimmy Castellanos is pleased to present 3047 David Avenue, a 14-unit multifamily property in San Jose, California. Built in 1958, the property sits on a 13,200 square foot parcel and includes approximately 8,076 square feet of rentable space.The unit mix consists of ten one-bedroom/one-bath units and four two-bedroom/one-bath units, offering an efficient layout that appeals to a wide tenant base. The garden-style design allows for easy management and has historically supported strong occupancy. The property is ideally located between Historic Downtown Campbell and Santana Row, with convenient access to dining, retail, and entertainment. It is also within 3–5 miles of major tech employers, including Adobe, eBay, PayPal, Zoom, Western Digital, and Nutanix. The location also offers excellent connectivity via Highways 280, 880, and 17, further supporting strong tenant demand.
Investment highlights
- Prime West San Jose Location Between Downtown Campbell and Santana Row
- Significant Rental Upside (Rents are 30% Below Market)
- Strong-Rental Market with Lowest Vacancy Rates in the Nation (CoStar Source)
- Desirable Unit Mix – 10 One-Bedroom & 4 Two-Bedroom Units
- The property offers a current cap rate exceeding 4.00%, with a pro forma cap rate projected above 7.00%
- Excellent Access to Highways 280, 880 & 17
- High Demand for Workforce Housing in Silicon Valley
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