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723 Forestdale AvenueSan Jose, CA 95116

For Sale

$1,395,000

Smart Buyer Rebate $13,950

The Downtown SJ Fourplex at 723 Forestdale Avenue presents an exceptional value-add multifamily investment opportunity in the heart of San Jose. The property consists of 4 spacious two-bedroom, one-bathroom apartments totaling approximately 3580 square feet on a 5,610-square-foot parcel. Recent 2026 capital improvements include exterior renovations, plumbing repairs, newly constructed decking, and completion of all required City of San Jose inspections. Ideally located minutes from Downtown San Jose, Highways 680 and 101, shopping, and major employment centers, the property benefits from strong rental demand and excellent long-term fundamentals. Current annual rental income of approximately $90,306 offers substantial upside to an estimated market income of over $110,000 through continued rent growth and operational improvements. Offered at $1,395,000, the asset features a projected pro forma capitalization rate of approximately 7.88%, providing investors with a rare opportunity to acquire a well-maintained property offering both stable in-place cash flow and significant future appreciation potential.

Listed by Nick Oliver

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License #02133612

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Redwood Property Company

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831-275-5320

Listed by Alex Budka

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License #01913403

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Redwood Property Company

Last updated September 11, 2026

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Source: MLSListings #ML82061054

Listing Facts

  • TypeMulti-family
  • NeighborhoodMcKinley
  • Days on Prevu5
  • Taxes$17,636/year
  • Size3,381 sqft
  • Price per sqft$413

Amenities

  • Pets Allowed
  • Parking

Location

Mortgage Calculator

Listing History

09/11/2026
Listed by Redwood Property Company
$1,395,000
  1. 09/11/2026$1,395,000
    Listed by Redwood Property Company

Property Details for 723 Forestdale Avenue

Exterior

Construction

  • Number Of Units Total: 4
  • Roof: Composition
  • Stories: 2
  • Year Built: 1960
  • Year Built Details: 2

Measurements

  • Building Area Total: 3,381
  • Lot Size Area: 5,610
  • Lot Size Source: Assessor
  • Lot Size Square Feet: 5,610
  • Lot Size Units: Square Feet

Financial

Residential Income

  • Cap Rate: 4.24
  • Gross Income: $89,166.00
  • Operating Expense Includes: Insurance, Maintenance, Utilities

Taxes

  • Parcel Number: 472-32-009
  • Tax Annual Amount: $17,636.00

Interior

Measurements

  • Living Area: 3,381

Parking

Parking

  • Carport: Yes
  • Parking Features: Assigned Spaces
  • Parking Total: 8

Schools

Elementary School

  • Elementary School District: Franklin-Mc Kinley Elementary

High School

  • High School District: East Side Union High

Utilities

Equipment

  • Cooling: Ceiling Fan
  • Heating: Wall Furnace
  • Utilities: Public Utilities, Water - Public, Individual Electric Meters, Individual Gas Meters
  • Water Source: Public

Frequently Asked Questions

How many bedrooms does this multi-family home have?

There is bedrooms in this multi-family home at 723 Forestdale Avenue.

Does this multi-family home have parking?

Yes, there are 8 parking spaces available for 723 Forestdale Avenue.

What are the annual taxes for 723 Forestdale Avenue?

Annual taxes for this multi-family home are estimated at $17,636.

How does 723 Forestdale Avenue compare to other multi-family homes in McKinley?

This multi-family home is listed 13% below the average price for multi-family homes in McKinley and has been on the market for 59 less days than the typical home in this area.

What is the square footage on this multi-family home?

According to the MLS, this listing is 3,381 sqft.

723 Forestdale Avenue is a -bedroom multi-family home for sale in San Jose CA 95116. Available on Prevu for 5 days at $1,395,000. This residence features 3,381 square feet of living space, located in San Jose. The median listing price for multi-family homes in this area is $1,360,000. The home offers pets allowed and parking. View other multi-family home listings in San Jose.

The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the MLSListings™️ MLS system. Real estate listings held by brokerage firms other than Prevu Real Estate are marked with the Internet Data Exchange and detailed information about them includes the names of the listing brokers and listing agents. Based on information from the MLSListings MLS) as of 09/11/2026. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Data Services by Constellation Data Labs. IDX display powered by Prevu Real Estate. Copyright 2026 MLSListings Inc. All rights reserved.

Full MLS Disclaimers

Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.