Kerley Drive Apartments features 20 units with an excellent mix of 12 one bedroom units and 8 two bedroom units. This well maintained complex sits across two separate parceled 10 unit buildings. This allows for ownership to self manage. On-site amenities at the complex including secure entry, a laundry facility, and parking. Ownership has done recent major capital expenditures including replacing the roof, new windows, and upgraded walkways. The property sits in the heart of Silicon Valley. It's location is surrounded by the leading technology employers of this region and the world. These companies include PayPal, Ebay, Adobe, Cisco, and Apple to name a few. These companies offer employees some of the best salaries nationwide.


  • EXCELLENT VALUE-ADD OPPORTUNITY The current property will allow investors to upgrade the interiors, and add on-site amenities allowing for premiums on the in-place rents.
  • OPPORTUNITY ZONE Kerley Drive Apartments is located in an Opportunity Zone.
  • GREAT SILICON VALLEY LOCATION Kerley Drive Apartments benefits from access to some of the top employers in the US and the world. The nearby average household income is about $118,000 — 1.75 times the US average. Asking rents are predicted to grow 8.5% in 2022 according to CoStar.
  • FEATURES 12 one bedrooms & 8 two bedrooms and offers laundry facility, covered parking, and a secured entry.


  • Address 1445-1455 Kerley Dr
    San Jose, CA
  • Price $6,950,000
  • Cap Rate 3.8%
  • GRM 15.55
  • County Santa Clara
  • Year Built 1959
  • NRSF ±14,380
  • Number of Units 20
  • Avg Unit Size 719 SF
  • Site Size 0.50 AC
  • Parking 22 covered
  • Parcel No. 235-02-020; 235-02-021


  • Roof TPO roof Installed 2020
  • Foundation Raised Foundation/Concrete Permieter
  • Siding Wood & Stucco
  • Veener Brick
  • Structure Wood Frame
  • Plumbing Copper Pipping
  • Windows Double Pane
  • HVAC Natural Gas/Wall AC





719 SF


Renovation Strategy

  • Kitchen
  • NEW cabinets
  • STAINLESS steel appliances
  • NEW stone counter tops
  • NEW backsplash
  • Bathroom
  • NEW cabinet doors/hardware
  • NEW vanity/sink
  • NEW tub surround
  • NEW towel racks
  • Living Room
  • CLOSET organizer
  • CEILING fan
Representative renovation photo



  • STRONG rent growth happened in 2021 with Y-O-Y asking rents growing 7.9% and CoStar predicting over 8.5% in 2022
  • MAJOR employers include Cisco, PayPal, eBay, Rivian, Broadcom, Samsung, Adobe, Google, and many others
  • SHORT drive to many amenities, including San Pedro Square, the San Jose Sharks, Top Golf or Levi’s Stadium
  • HOME PRICES grew exceptionally in this market at 11% over the last year. The average price is $1.028M, almost triple the U.S. average. This leads to more renters.


  1 Mile 3 Miles 5 Miles
Population 9,292 203,974 647,679
Median Age 33.8 34.5 35.5
Median HH Income $104,431 $113,378 $117,807
Businesses 1,520 14,174 30,713
Employment 31,357 220,699 447,057

Due Diligence

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