45 Cleveland Ave, San Jose, California 95128, San Jose, 95128 - 0 bed, 0 bath
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45 Cleveland Ave
San Jose, California 95128
ACTIVE
CONDITION: FAIR
0Beds
0Baths
3,492Sq Ft
5,625Lot Size
Property Price
LIST PRICE$1,788,000
EST. MARKET VALUE
$1,788,000
SUMMARY
This 4-unit quadruplex presents a High-Potential Investment Opportunity, listed at a List Price of $1,788,000, which aligns with the $1,788,000 Fair Market Value. Located in unincorporated Santa Clara County, this Asset offers a significant regulatory advantage by bypassing San Jose’s rent control. With a Condition Rating of 4, the property features a 2020 roof and stable Section 8 income, providing immediate cash flow. Its proximity to Santana Row ensures high tenant demand. This is a strategic acquisition for Buy-and-Hold Investors or Portfolio Managers seeking reliable, long-term rental income.
Estimated Market Value
$1,788,000
Based on Realkey algorithm analyzing recent comparable sales in San Jose.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 45 Cleveland Ave Subject | $1,788,000* List Price | 0 | 0 | 3,492 | $512 | - |
A 47 Cleveland Ave Active | $1,788,000 List Price | 0 | 0 | 3,492 | $512 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1959, this 65-year-old quadruplex is functional but dated. While the roof was replaced in 2020 (Excellent) and some units have been updated, the overall age and partial renovation status suggest that remaining units and systems likely require modernization to meet current market standards.
PROSSTRENGTHS & OPPORTUNITIES
- Regulatory Advantage
Located in unincorporated Santa Clara County, the property is exempt from the City of San Jose's Apartment Rent Ordinance, providing investors with significant flexibility regarding rent increases and management.
- Prime Location
The property is ideally situated less than a mile from Santana Row and Westfield Valley Fair, ensuring high tenant demand and proximity to major Silicon Valley employers and transit corridors.
- Stable Cash Flow
With the majority of units supported by Section 8 (HAP) income and additional revenue from on-site laundry, the building offers a reliable and consistent income stream for investors.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
Built in 1959, the property may require ongoing capital improvements and maintenance for older systems, despite the roof being replaced in 2020.
- Moderate School Ratings
The assigned public schools have relatively low to average ratings (ranging from 3 to 6), which may limit the property's appeal to families prioritizing high-performing educational districts.
About 45 Cleveland Ave
Fantastic multifamily investment opportunity in a desirable unincorporated Santa Clara County location, offering flexibility outside the City of San Jose's Apartment Rent Ordinance. Ideally situated less than a mile from Santana Row and Westfield Valley Fair, with easy access to Downtown San Jose, major freeways, and top Silicon Valley employers. This well-located 4-unit building features a classic, consistent unit mix with the majority of units supported by stable Section 8 (HAP) income — a great option for investors seeking dependable cash flow. Some units have been updated, and additional income is generated through on-site coin-operated laundry. Roof replaced in 2020. Ample parking adds to the appeal. This is one of two nearly identical, adjacent 4-unit buildings available — offered individually or together as a rare 8-unit portfolio opportunity.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1959
- Lot Size
- 5,625 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
San Jose Unified Schools
Merritt Trace Elementary School
Grades K-5 • 0.5 mi
4/10
Gardner Elementary School
Grades K-5 • 1.9 mi
4/10
Horace Mann Elementary School
Grades K-5 • 2.7 mi
4/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 3,492 | 2,559.348 |
| Lot Size | 5,625 | 6,883.043 |
| Price | $1.79M | $1.48M |
| Price per sq ft | $512 | $632 |
| Built year | 1959 | 1963 |
| HOA | $0 | $0 |
| Days on market | 25 | 63 |
Pricing History
Listed for Sale
Aug 15, 2026
$1,788,000
Initial Listing
Sold
Jul 2, 1999
$448,000
Public Record