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Bobby Kelley

bobbykelley@compass.com +1(650) 885-8383

Listed by Nick Oliver, DRE #02133612 • Redwood Property Company

$ 1,395,000

Est. payment | -/mo

8 Beds

4 Baths

3,381 SqFt

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$ 1,395,000

Est. payment | -/mo

Save

8 Beds

4 Baths

3,381 SqFt

Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Active

Purchase Type For Sale

Square Footage 3,381 sqft

Price per Sqft $412

MLS Listing ID ML82061054

Bedrooms 8

Full Baths 4

Year Built 1960

Lot Size 5,610 Sqft

Property Sub-Type Fourplex

Source MLSListings, Inc.

Property Description

The Downtown SJ Fourplex at 723 Forestdale Avenue presents an exceptional value-add multifamily investment opportunity in the heart of San Jose. The property consists of 4 spacious two-bedroom, one-bathroom apartments totaling approximately 3580 square feet on a 5,610-square-foot parcel. Recent 2026 capital improvements include exterior renovations, plumbing repairs, newly constructed decking, and completion of all required City of San Jose inspections. Ideally located minutes from Downtown San Jose, Highways 680 and 101, shopping, and major employment centers, the property benefits from strong rental demand and excellent long-term fundamentals. Current annual rental income of approximately $90,306 offers substantial upside to an estimated market income of over $110,000 through continued rent growth and operational improvements. Offered at $1,395,000, the asset features a projected pro forma capitalization rate of approximately 7.88%, providing investors with a rare opportunity to acquire a well-maintained property offering both stable in-place cash flow and significant future appreciation potential.

Location

State CA

County Santa Clara

Area South San Jose

Zoning R3

Interior

Heating Wall Furnace

Cooling Ceiling Fan

Exterior

Parking Features Assigned Spaces

Garage Spaces 8.0

Utilities Available Individual Electric Meters, Individual Gas Meters, Public Utilities

Roof Type Composition

Building

Foundation Concrete Perimeter

Sewer Sewer Connected

Water Public

Others

Tax ID 472-32-009

Special Listing Condition Not Applicable

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(650) 885-8383

bobbykelley@compass.com

891 Beach St, San Francisco, CA 94109, USA

723 Forestdale AVE San Jose, CA 95116

Bobby Kelley

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

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723 Forestdale AVE