13-unit multifamily in downtown San Jose. Features 12 one-bedroom/one-bath units and 1 studio, with on-site laundry, 12 parking spaces (9 covered), and attractive curb appeal with mature landscaping. Current average rent is $1,339/month vs. ~$2,000 market, creating strong value-add potential. Priced below area averages at $225k/unit with a 4.4% cap rate and 13.96 GRM, pro forma returns reach 7.67% cap and 9.47 GRM. Built in 1961 on a 12,420 SF lot, the 6,536 SF structure offers stable cash flow with upside through renovations, rent increases, and compliance upgrades. Ideal for investors seeking repositioning opportunities, 1031 exchange buyers, or those comfortable with renovation-driven appreciation. Marketing package and disclosures available.
Listed by Michael Shields
·
License #01327546
·
SiliconValley MultiFamilyGroup
·
408-356-1900
Last updated November 12, 2025
·
Source: MLSListings #ML82023937
Listing Facts
TypeMulti-family
NeighborhoodWest Northside
Days on Prevu44
Taxes$40,041/year
Size6,536 sqft
Price per sqft$448
Amenities
Dishwasher
Pets Allowed
Parking
Location
Mortgage Calculator
Listing History
10/31/2025
Status changed to Active
$2,925,000
10/23/2025
Status changed to Removed from Feed
$2,925,000
10/06/2025
Listed by SiliconValley MultiFamilyGroup
$2,925,000
Property Details for 358 N 7th Street
Exterior
Construction
Roof: Flat, Tar/Gravel
Stories: 2
Year Built: 1961
Year Built Details: 2
Features
View: Downtown
Measurements
Building Area Total: 6,536
Lot Features: Grade - Level
Lot Size Acres: 0.28
Lot Size Area: 12,420
Lot Size Source: Assessor
Lot Size Square Feet: 12,420
Lot Size Units: Square Feet
Financial
Residential Income
Cap Rate: 4.4
Gross Income: $201,151.00
Operating Expense Includes: Cable TV
Taxes
Parcel Number: 249-50-022
Tax Annual Amount: $40,041.00
Interior
Features
Appliances: Dishwasher, Microwave
Flooring: Carpet, Hardwood
Measurements
Living Area: 6,536
Other
Features
Accessibility Features: Parking
Parking
Parking
Carport Spaces: 13
Carport: Yes
Parking Features: Carport, Parking Area
Parking Total: 12
Schools
Elementary School
Elementary School: Grant Elementary_1
Elementary School District: San Jose Unified
High School
High School District: San Jose Unified
Utilities
Equipment
Cooling: Ceiling Fan, Central Forced Air, Window/Wall Unit
Heating: Radiant
Laundry Features: Coin Operated
Utilities: Water - Public, Individual Electric Meters, Individual Gas Meters
Water Source: Public
Based on information from MLSListings™️ and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by Prevu or the MLS. Information is provided exclusively for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.
Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.
