Bought with Eymon Binesh • Marcus & Millichap
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Key Details
Sold Price $1,325,000
Property Type Commercial
Sub Type Five or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 2,760 sqft
Price per Sqft $480
MLS Listing ID ML82018284
Sold Date 09/18/25
Bedrooms 3
Full Baths 4
Half Baths 1
Year Built 1935
Lot Size 2,642 Sqft
Property Sub-Type Five or More Units
Property Description
Marcus & Millichap is pleased to present 162 E San Salvador Street, a 5-unit multifamily investment directly across from San Jose State University. This prime location ensures exceptional rental demand driven by the university's nearly 37,000 students and vibrant surrounding neighborhood. Built in 1935, this property offers a diverse unit mix - one 2-bed/1.5-bath, one 1-bed/1-bath, and three spacious studios - providing steady, diversified income. Priced to sell at an attractive 7.90% CAP rate and 8.6 GRM, the asset delivers strong in-place cash flow with significant long-term appreciation potential. High-demand properties at this price point across from San Jose State are rare - this opportunity will not last.
Location
State CA
County Santa Clara
Area Central San Jose
Zoning CG
Rooms
Kitchen Countertop - Formica, Countertop - Granite
Interior
Heating Gas
Cooling None
Flooring Tile, Vinyl / Linoleum
Laundry None
Exterior
Exterior Feature Porch - Enclosed
Parking Features On Street
Utilities Available Public Utilities
Roof Type Bitumen
Building
Foundation Concrete Perimeter and Slab
Sewer Sewer - Public
Water Public
Others
Restrictions None
Tax ID 467-47-064
Security Features None
Special Listing Condition Not Applicable
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