3047 David Ave — Sale in San Jose, CA
- Price: Contact for price
- Listing type: For sale
- Asset type: Multifamily Property
- Location: San Jose, CA 95128
Photos
Investment Figures
- Cap rate
- 4.37%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Marcus & Millichap 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
Market Context
This multifamily in San Jose, CA is listed for sale. It is offered at an approximate 4.4% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in San Jose, CA — view the full market.
Contact
- Jimmy Castellanos · (650) 391-1777 · jcastellanos@marcusmillichap.com
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