723, 729, 743 & 749 Forestdale Ave offer a rare chance to acquire a 20-unit multifamily portfolio in one of San Jose's most supply-constrained rental corridors. Sold together as four apartment buildings, this portfolio delivers immediate scale, strong in-place income, and clear upside through lease repositioning. Built in 1960, the asset includes (2) four-plexes with 2BD/1BA units and (2) six-plexes with 1BD/1BA units totaling approx. 13,912 SF on 22,440 SF of combined land. The units are approximately 95% occupied with ~85% month-to-month leases, creating a near-term path to market rent increases. Buildings are configured in two adjacent pairs (723/729 and 743/749), offering operational flexibility or potential future disposition strategies. East San Jose continues to benefit from strong rental demand, relative affordability, and proximity to major employment and transit corridors. Possible redevelopment or density upside subject to buyer verification.
Important: MLS reflects one parcel only. List price includes all four properties:
723 Forestdale Ave - APN 472-32-009
729 Forestdale Ave - APN 472-32-010
743 Forestdale Ave - APN 472-32-012
749 Forestdale Ave - APN 472-32-013
Sold for $4,200,000
$4,200,000
723 Forestdale Ave, San Jose, CA 95116
8beds
4baths
3,381sqft
Quadruplex, Residential Income
Built in 1960
-- sqft lot
$5,149,400 Zestimate®
$1,242/sqft
$2,579 Estimated rent
Home value
$5,149,400
$4.89M - $5.41M
$2,579/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
Eugene Mitchell Nazzisi 01877079 408-667-0201,
CAP Real Estate Services, Inc. 408-667-0201
Bought with:
Nick Oliver, 02133612
Redwood Property Company
Source: MLSListings Inc,MLS#: ML82039136
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
Kitchen
- Features: Countertop_Laminate
Heating
- Wall Furnace
Cooling
- Ceiling Fan(s), Wall/Window Unit(s)
Appliances
- Included: Electric Cooktop, Electric Oven
- Laundry: Hookups Only
Features
- Flooring: Carpet, Laminate, Vinyl Linoleum
- Doors: None
Interior area
- Total structure area: 3,381
- Total interior livable area: 3,381 sqft
Property
Parking
- Total spaces: 18
- Parking features: Common, On Street
- Has carport: Yes
Accessibility
- Accessibility features: None
Features
- Stories: 2
- Has view: Yes
- View description: City Lights, Park/Greenbelt
Lot
- Size: 5,610 Square Feet
- Features: Level, Paved, Regular
Details
- Parcel number: 47232009
- Zoning: R3
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex, Residential Income
Materials
- Foundation: Concrete Perimeter
- Roof: Composition
Condition
- Year built: 1960
Utilities & green energy
- Gas: IndividualGasMeters, PublicUtilities
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Public Utilities, Water Public, Individual Electric Meters, Individual Gas Meters
Community & HOA
Location
- Region: San Jose
Financial & listing details
- Price per square foot: $1,242/sqft
- Tax assessed value: $490,720
- Annual tax amount: $34,584
- Date on market: 3/18/2026
- Listing agreement: ExclusiveAgency
- Listing terms: CashorConventionalLoan
- Inclusions: AccountsReceivable, Building, DishwasherAllUnits, Land, OvenRangeAllUnits
- Lease term: Month To Month
Price history
| Date | Event | Price |
|---|---|---|
| 5/14/2026 | Sold | $4,200,000-19.2%$1,242/sqft |
Source:  MLSListings Inc #ML82039136 Report a problem | ||
| 4/1/2026 | Pending sale | $5,195,000$1,537/sqft |
Source: MLSListings Inc #ML82039136 Report a problem | ||
| 3/18/2026 | Listed for sale | $5,195,000+1898.1%$1,537/sqft |
Source: MLSListings Inc #ML82039136 Report a problem | ||
| 6/14/1994 | Sold | $260,000$77/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $8,647 -19.2% | $490,720 +2% |
| 2024 | $10,695 +236.8% | $481,099 -68% |
| 2023 | $3,176 -84.8% | $1,504,500 +2% |
| 2022 | $20,944 +591.5% | $1,475,000 +1650.6% |
| 2021 | $3,029 +3.3% | $84,255 +1% |
| 2020 | $2,932 | $83,392 +2% |
| 2019 | $2,932 +4.7% | $81,758 +2% |
| 2018 | $2,801 | $80,156 +2% |
| 2017 | $2,801 +1.8% | $78,586 +2% |
| 2016 | $2,752 +8.9% | $77,046 +1.5% |
| 2015 | $2,528 +8.3% | $75,890 +2% |
| 2014 | $2,333 | $74,404 +0.5% |
| 2013 | -- | $74,069 +2% |
| 2012 | -- | $72,618 +2% |
| 2011 | -- | $71,196 +0.8% |
| 2010 | -- | $70,665 -0.2% |
| 2009 | -- | $70,834 +2% |
| 2008 | -- | $69,446 +2% |
| 2007 | -- | $68,086 +2% |
| 2006 | -- | $66,752 +2% |
| 2005 | -- | $65,444 +2% |
| 2004 | -- | $64,162 +1.9% |
| 2003 | -- | $62,987 +2% |
| 2002 | -- | $61,753 +2% |
| 2001 | -- | $60,543 |
Find assessor info on the county website
Neighborhood: Downtown
Nearby homes
- $95,579-- bd-- ba3.5k sqft729 Forestdale Ave, San Jose, CA 95116Off Market
- $--2 bd1 ba800 sqft737 Forestdale Ave APT 2, San Jose, CA 95116Off Market
- $1,455,0008 bd4 ba2.7k sqft737 Forestdale Ave, San Jose, CA 95116Sold
- $--2 bd1 ba700 sqft737 Forestdale Ave APT 3, San Jose, CA 95116Off Market
- $--2 bd1 ba750 sqft811 Jeanne Ave APT 1, San Jose, CA 95116Off Market
- $1,515,0008 bd4 ba2.9k sqft811 Jeanne Ave, San Jose, CA 95116Sold
- $--2 bd1 ba800 sqft811 Jeanne Avenue #Second Floor, San Jose, CA 95116Off Market
- $1,341,9004 bd3 ba2.1k sqft785 S 22nd St, San Jose, CA 95116Off Market
Nearby schools
GreatSchools rating
- 4/10McKinley Elementary SchoolGrades: K-6Distance: 0.3 mi
- 2/10Bridges AcademyGrades: 7-8Distance: 1.1 mi
- 7/10Yerba Buena High SchoolGrades: 9-12Distance: 1.2 mi
Schools provided by the listing agent
- District: FranklinMcKinleyElementary
Source: MLSListings Inc. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$5,149,400
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Estimated market value
$5,149,400
- California
- Santa Clara County
- San Jose
- 95116
- Downtown
- 723 Forestdale Ave
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