About 358 N 7th Street
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.
Features of 358 N 7th Street
| MLS® # | ML82023937 |
|---|---|
| Price | $2,925,000 |
| Square Footage | 6,536 |
| Acres | 0.29 |
| Year Built | 1961 |
| Type | Residential Income |
| Sub-Type | OTHER |
| Status | Active |
Community Information
| Address | 358 N 7th Street |
|---|---|
| City | San Jose |
| County | Santa Clara |
| State | CA |
| Zip Code | 95112 |
Amenities
| View | Downtown |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Radiant |
|---|---|
| Cooling | Ceiling Fan(s) |
| Fireplace | No |
Exterior
| Lot Description | Level |
|---|
School Information
| District | San Jose Unified |
|---|
Additional Information
| Date Listed | October 6th, 2025 |
|---|---|
| Zoning | RM |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Michael Shields |
|---|---|
| Office | SiliconValley MultiFamilyGroup |