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33526638
33526634

770 Opal Drive, San Jose, CA 95117

JC
CA 02024152
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto
$1,495,000
1 day on market
Updated 1 day ago

770 Opal Drive

Details
APN 299-43-064
Property Type Multifamily
Square Footage 2,134
Net Rentable (SqFt) 2,134
Units 3
Cap Rate 3.91%
NOI $58,488
Occupancy 100%
Pro-Forma Cap Rate 4.5%
Pro-Forma NOI $67,335
Price per SqFt $701
Year Built 1959
Buildings 1
Stories 2
Lot Size (SqFt) 7,200
Zoning R3

Multifamily | 3 Units | $498,333/unit

Marketing description

BCG Multifamily is pleased to present 770 Opal Drive, a well-maintained three-unit apartment community located in the highly desirable Lynhaven neighborhood of West San Jose. Situated on a 7,200 square foot parcel and originally constructed in 1959, the property encompasses approximately 2,134 square feet and features an attractive unit mix of three spacious two-bedroom/one-bathroom residences averaging approximately 711 square feet per unit. The property offers investors the opportunity to acquire a stable, income-producing asset in one of Silicon Valley's most supply-constrained rental markets, while benefiting from future rental growth through the repositioning of below-market rents.

The property currently generates approximately $7,790 in monthly gross rental income and benefits from approximately 9% rental upside. Residents are attracted to the property's spacious floorplans, private outdoor areas, covered parking, and convenient West San Jose location. Each residence enjoys dedicated outdoor space, including private balconies for the upper units and a backyard area for the ground-floor unit, creating a residential atmosphere that is increasingly difficult to find in today's multifamily inventory. Additional amenities include tuck-under covered parking, on-site laundry facilities, and individually metered gas and electric service, helping reduce ownership expenses while promoting long-term tenant retention.

Ideally positioned between Santana Row, Westfield Valley Fair, Downtown Campbell, and Downtown San Jose, 770 Opal Drive offers residents immediate access to some of Silicon Valley's most desirable shopping, dining, and entertainment destinations. The property is located slightly over 4 miles from Apple Park and enjoys convenient access to Interstate 280, Highway 17, Stevens Creek Boulevard, and San Tomas Expressway, providing seamless connectivity to major employers including Apple, NVIDIA, Google, Adobe, Cisco, eBay, and PayPal. With limited new multifamily development opportunities throughout West San Jose and continued demand from highly compensated technology professionals, 770 Opal Drive represents a compelling opportunity to acquire a well-located asset positioned for long-term appreciation and stable cash flow growth.

Investment highlights

1. Situated in the Heart of West San Jose – Lynhaven Neighborhood

2. All Units Are Spacious Two-Bedroom / One-Bath Residences

3. Minutes to Santa Row, Westfield Valley Fair, Downtown Campbell, and Downtown San Jose

4. Santana Row Attracts Over 12 Million Visitors Annually

5. Westfield Valley Fair Recently Completed Over $1 Billion In Redevelopment

6. Convenient Access to Interstate 280, Highway 17, and Stevens Creek Boulevard

7. Approximately 4.2 Miles to Apple Park, Cupertino

8. Below-Market Rents with Approximately 9% Rental Upside Potential

Listing Contacts

JC
CA 02024152
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$58,488.00
$4,874.00/mo

Valuation Metrics

0
DSCR
3.91%
Cap Rate
3.91%
ROI

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Additional Information

Name
Jimmy Castellanos
License
02024152
Brokerage
Marcus & Millichap
Brokerage Phone
(650) 391-1777
Brokerage Address
2626 Hanover Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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