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33258103
33258097

50 Cleveland Ave, San Jose, CA 95128

MZ
CA CA 01870648
Marcus & Millichap - Palo Alto
SF
CA 02180149
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto
$1,750,000
6 days on market
Updated 3 days ago

50 Cleveland Avenue

Details
APN 274-17-083
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,761
Units 8
Cap Rate 6.09%
NOI $106,601
Occupancy 97%
Tenancy Multi
Pro-Forma Cap Rate 7.52%
Pro-Forma NOI $131,656
Price per SqFt $465
Year Built 1957
Acreage 0.130
Investment Type Stabilized
Ownership Fee Simple

Multifamily | 8 Units | $218,750/unit

Marketing description

50 Cleveland Avenue presents an exceptional opportunity to acquire an eight (8) unit multifamily asset located in the desirable Burbank neighborhood of unincorporated Santa Clara County, just moments from Downtown San Jose. Importantly, the property is exempt from the City of San Jose Apartment Rent Ordinance, providing investors with added operational flexibility compared to many competing multifamily assets within San Jose city limits.

The property consists entirely of one-bedroom / one-bathroom units, offering an efficient and highly rentable unit mix that continues to see strong demand from Silicon Valley renters. Ideally positioned near Santana Row, Valley Fair, and major transportation corridors, the property offers residents convenient access to many of Silicon Valley's largest employers including Adobe, Nvidia, PayPal, Apple, and the broader tech corridor.

With its central Silicon Valley location, favorable rent control positioning, and attractive all one-bedroom configuration, 50 Cleveland Avenue represents a compelling long-term investment opportunity in one of the Bay Area's strongest rental markets.

Investment highlights

  • Eight (8) one-bedroom / one-bathroom apartment units
  • Exempt from the City of San Jose Apartment Rent Ordinance
  • Located in the desirable Burbank neighborhood of unincorporated Santa Clara County
  • Excellent access to Santana Row, Valley Fair, Downtown San Jose, and major commute corridors
  • Strong Silicon Valley rental demand driven by nearby major tech employers
  • Potential for future rental upside through strategic interior and exterior improvements

Listing Contacts

MZ
CA CA 01870648
Marcus & Millichap - Palo Alto
SF
CA 02180149
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$106,601.00
$8,883.42/mo

Valuation Metrics

0
DSCR
6.09%
Cap Rate
6.09%
ROI

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Additional Information

Name
Mitchell Zurich
License
CA 01870648
Brokerage
Marcus & Millichap
Brokerage Phone
6503911824
Title
Senior Managing Director
Brokerage Address
2626 Hanover Street
Name
Scott Ferguson
License
02180149
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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