47 Cleveland Ave, San Jose, California 95128, San Jose, 95128 - 0 bed, 0 bath
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47 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 represents a High-Potential Investment Opportunity, currently listed at a List Price of $1,788,000, which aligns with the $1,788,000 Fair Market Value. Featuring a Fair Condition Rating with a 2020 roof replacement, the property offers stable cash flow through Section 8 (HAP) income and exemption from San Jose’s rent ordinance. Its proximity to Santana Row and major employers ensures high rental demand. This asset is an ideal acquisition for Buy-and-Hold Investors or Portfolio Managers seeking a reliable, income-generating multifamily asset in Silicon Valley.
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 |
|---|---|---|---|---|---|---|
★ 47 Cleveland Ave Subject | $1,788,000* List Price | 0 | 0 | 3,492 | $512 | - |
A 45 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.
While the property features a newer roof (2020) and recent cosmetic interior updates like LVP flooring and fresh paint, the 1959 structure remains largely dated. The kitchen shows older painted cabinetry and basic appliances rather than a full modern renovation, and the building systems are likely aged, consistent with the 'Fair' classification for properties over 20 years old needing further updates.
PROSSTRENGTHS & OPPORTUNITIES
- Regulatory Advantage
Located in unincorporated Santa Clara County, this property is exempt from the City of San Jose's Apartment Rent Ordinance, offering investors significantly more flexibility with rent increases and management.
- Prime Location
Situated less than a mile from Santana Row and Westfield Valley Fair, the property boasts a high-demand location with easy access to luxury amenities, major freeways, and top Silicon Valley employers.
- Stable Cash Flow
The majority of units are supported by Section 8 (HAP) income, providing a reliable and consistent government-backed revenue stream that minimizes collection risk for the owner.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
Built in 1959, the property may require ongoing capital expenditures for aging systems and structural maintenance, despite the roof being replaced in 2020.
- Modest 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 47 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