47 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 slightly above the $1,818,572 Fair Market Value. Featuring a Condition Rating of 3, this asset offers turnkey appeal with recent interior renovations, including modern flooring and updated kitchens. Its location in an unincorporated Burbank pocket provides a significant advantage by bypassing San Jose’s rent control, allowing for flexible rent adjustments under AB 1482. This property is an ideal acquisition for Buy-and-Hold Investors or Portfolio Managers seeking stable cash flow in a competitive Silicon Valley market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 47 Cleveland Avenue Subject | $1,850,000* List Price | 0 | 0 | 3,492 | $521 | - |
A 45 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 move-in ready.
Although built in 1959, the property has undergone recent interior and exterior renovations. Updates include modern laminate flooring, recessed lighting, renovated bathrooms, and updated kitchens with newer appliances. The property is well-maintained, freshly painted, and move-in ready, fitting the criteria for a 5-15 year renovation cycle.
Located in an unincorporated pocket of the Burbank neighborhood, this property is exempt from the City of San Jose's strict Apartment Rent Ordinance, offering investors significantly more flexibility with annual rent adjustments under AB 1482.
The property is situated less than one mile from premier destinations like Santana Row and Westfield Valley Fair, providing excellent proximity to major tech employers including Nvidia, Intel, and Cisco.
The units feature modern renovations including updated kitchens with full-size ranges, renovated bathrooms, recessed lighting, and new laminate flooring, reducing the need for immediate capital expenditures.
The local public schools, such as Herbert Hoover Middle School (rated 3/10), have lower ratings which may impact the property's appeal to long-term family tenants and affect future appreciation.
Built in 1959, the property may require more frequent maintenance or future upgrades to core systems like plumbing and electrical compared to newer residential income assets.
Property NOT bound by City Rent Control. 47 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 45 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, 47 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 | 18 | 94 | 20% |
May 19, 2026
$1,850,000
Initial Listing
Jul 2, 1999
$448,000
Public Record