Investment Overview

52 Cleveland Avenue is a 100% occupied, 6-unit multifamily investment in San Jose's desirable 95128 zip code, built in 1960 and featuring updated interior finishes. The property offers an attractive unit mix of five 1-bedroom/1-bath and one 2-bedroom/1-bath units, six attached parking spaces, and individually metered gas and electric to help control operating costs. Current in-place rents sit approximately 5% below market, creating a clear value-add opportunity for a new owner to grow income through natural lease turnover. At the $1,898,000 list price, the asset generates a stable 5.03% cap rate on current income, with upside to a 5.38% pro forma cap rate once rents are brought in line with market. Ancillary laundry and storage income add further stability to the rent roll. Ideally located in the heart of Silicon Valley, the property offers convenient access to major employers, Westfield Valley Fair, Santana Row, and a wide range of retail, dining, and medical amenities — positioning 52 Cleveland Avenue as a compelling opportunity for investors seeking a stabilized asset with meaningful upside in one of the nation's strongest rental markets.