45 Cleveland Avenue, San Jose, California 95128, San Jose, 95128 - 0 bed, 0 bath
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San Jose, California 95128
This 4-unit High-Potential Investment Opportunity is listed at $1,850,000, positioned well below the $1,881,428 Fair Market Value by 1.67%. This valuation gap offers $31,428 in Instant Equity. Featuring an Excellent Condition Rating with modern kitchen and bath upgrades, this asset benefits from being outside San Jose rent control, allowing for flexible rent adjustments. Its proximity to major tech employers and Santana Row ensures strong rental demand. This is an ideal acquisition for Buy-and-Hold Investors or Portfolio Managers seeking stable cash flow.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 45 Cleveland Avenue Subject | $1,850,000* List Price | 0 | 0 | 3,492 | $539 | - |
A 47 Cleveland Avenue Active | $1,850,000 List Price | 0 | 0 | 3,492 | $530 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1959, the property qualifies as Excellent due to recent comprehensive renovations (likely <5 years). The listing and images confirm updated kitchens, renovated bathrooms with modern tile work, new laminate flooring, recessed lighting, and fresh interior/exterior paint, indicating the property is in mint, move-in ready condition.
Located in an unincorporated pocket of the Burbank neighborhood, this property is exempt from the City of San Jose's restrictive Apartment Rent Ordinance, allowing for greater flexibility in annual rent adjustments under AB 1482.
The property is situated less than a mile from Santana Row and Westfield Valley Fair, providing tenants with premier access to high-end retail, dining, and major tech employers like Nvidia, Intel, and Cisco.
The units feature significant modern improvements, including renovated kitchens and bathrooms, recessed lighting, and new laminate flooring, which helps attract high-quality tenants and reduces immediate capital expenditure.
Built in 1959, the property may require more frequent maintenance or future upgrades to major systems such as plumbing and electrical compared to newer construction.
The assigned public schools have modest ratings ranging from 3 to 6, which may limit the property's appeal to families prioritizing top-tier educational districts.
Property not bound by city rent control! 45 Cleveland Avenue is a well-maintained (4) 2-bed / 1-bath 4plex totaling 3,492 SF, available individually or alongside its side-by-side twin at 47 Cleveland Ave as an 8-unit portfolio. The property is positioned less than 1 mile from Santana Row and Westfield Valley Fair, with quick access to Downtown San Jose, major freeways, and top Silicon Valley employers including Nvidia, Intel, Cisco, and ServiceNow. A key advantage for investors: the property sits in an unincorporated pocket of the Burbank neighborhood and is not subject to the City of San Jose's Apartment Rent Ordinance. Instead, it falls under Santa Clara County's framework and California's AB 1482, offering meaningfully more flexibility on annual rent adjustments. Interior upgrades include updated kitchens with full-size ranges, modern laminate flooring, recessed lighting, and renovated bathrooms. Both interior and exterior have been freshly painted. Additional income comes from on-site coin-operated laundry, and tenants benefit from a combination of surface and covered parking. Whether viewed as a stand-alone cash-flow asset or part of an 8-unit Silicon Valley acquisition, 45 Cleveland Avenue offers a rare entry point into one of the Bay Area's most competitive rental markets.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades K-5 • 1.9 mi
Grades K-5 • 2.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,492 | 1,786 | 80% |
| Lot Size | 5,625 | 6,300 | 20% |
| Price | $1.85M | $1.50M | 80% |
| Price per sq ft | $530 | $725 | 20% |
| Built year | 1959 | 1959 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 25 | 101 | 20% |
May 19, 2026
$1,850,000
Initial Listing
Jul 2, 1999
$448,000
Public Record