Property Details
About this Property
Turnkey fourplex in desirable West San Jose offers strong investment potential with a balanced unit mix: one 3BR/2BA, two 2BR/1.5BA, and one 1BR/1BA unit. The three larger units feature HVAC systems while the smaller unit has window A/C and a wall heater. Built in 1968, the 3,973 SF building sits on a 9,636 SF lot and includes 12 parking spaces (6 covered, 6 open) plus shared laundry generating approximately $250 monthly in additional income. The property generates $113,904 in annual gross income with a 3.48% cap rate and 16.68 gross rent multiplier. Located just 1.2 miles from Santana Row and 2 miles from Westfield Valley Fair, it offers excellent access to I-280, Highway 17, and San Tomas Expressway, plus proximity to top-rated schools within one mile. San Jose's tech-driven economy continues to support strong rental demand despite recent sector adjustments. With vacancy rates at just 3.8%, rent growth at 2.7%, and high home prices keeping buyers in the rental market, multifamily properties are well-positioned for long-term appreciation and income growth. The property is SB721 compliant and subject to San Jose's Apartment Rent Ordinance and Tenant Protection Ordinance.
MLS Listing Information
MLS #
ML82018905
MLS Source
MLSListings, Inc.
Days on Site
2
Interior Features
Kitchen
Countertop - Solid Surface / Corian, Countertop - Stone, Exhaust Fan
Appliances
Cooktop - Electric, Dishwasher, Exhaust Fan, Garbage Disposal, Oven Range - Electric, Refrigerator
Flooring
Carpet, Laminate, Tile
Laundry
Coin Operated
Cooling
Central Forced Air, Window/Wall Unit
Heating
Forced Air, Wall Furnace
Exterior Features
Roof
Composition, Shingle
Foundation
Concrete Perimeter and Slab
Parking, School, and Other Information
Garage/Parking
Carport, Garage: 0 Car(s)
Elementary District
Campbell Union Elementary
High School District
Campbell Union High
Water
Public
Zoning
RM
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 4 | 4 |
| Unit # | Sq Ft | Beds | Baths | Rent |
|---|---|---|---|---|
| 1 | – | 3 | 2/0 | $2,485 |
| 2 | – | 1 | 1/0 | $1,995 |
| 3 | – | 2 | 1/1 | $2,395 |
| 4 | – | 2 | 1/1 | $2,165 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
2985 Walgrove Way is a Residential Income in San Jose, CA 95128. This 3,973 square foot property sits on a 9,636 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,950,000 and was built in 1968. This address can also be written as 2985 Walgrove Way, San Jose, CA 95128.
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This listing information is up-to-date as of August 22, 2025. For the most current information, please contact Michael Shields, (408) 356-1900
