1020 N 5th Street
Total Lot Size: 27,625 SqFt
Total Price: $2,980,000

The Azucena Group of Marcus & Millichap is pleased to offer an exceptional investment opportunity at 1020 N. 5th Street in San Jose, CA. Currently a vacant lot, the property presents significant development potential in the heart of the Capital of Silicon Valley. This is an ideal opportunity for an investor or developer to bring new inventory to one of the most lucrative real estate markets in the country. Particularly in an area just minutes from the Golden Triangle, North San Jose’s premier tech hub that hosts more than 30 major technology companies employing over 81,000 people.

1020 N. 5th Street are four undeveloped lots zoned for R2 located north of Downtown San Jose. The corner lot measures 8,125 sqft, while the three adjacent lots are 6,500 sqft each, making the total lot size 27,625 sqft or 0.63 acres.

Zoned R2 – Two-Family Residence District, this site allows for the construction of single-family homes or duplexes, with permitted residential densities of eight to 16 units per acre. City Ordinance also permits the lot to be used for the development of public schools, museums, libraries, and parks. Under conditional use permits, the lot may be developed as a private school, private museum, swim or tennis club, or a bed and breakfast inn.

San Jose remains one of the most expensive housing markets in the United States, with the median home price exceeding $1.4 million as of July 2025. In response to the ongoing housing crisis, the city continues to push for increased residential development to address growing demand. However, new inventory still falls short of what’s needed—creating a supply-constrained market where well positioned housing projects are primed to deliver strong returns. For investors, this represents a rare opportunity to capitalize on one of the most resilient and high-demand real estate markets in the country.

Lot Details

• APN: 235-09-016 | $701,176 | 6,500 Sqft

• APN: 235-09-017 | $701,176 | 6,500 Sqft

• APN: 235-09-018 | $701,176 | 6,500 Sqft

• APN: 235-09-019 | $876,471 | 8,125 Sqft

R2 Zoning

The R2 Two-Family Residence District in San Jose allows for single-family homes and duplexes, promoting medium-density residential development. This zoning classification permits a density range of 8 to 16 dwelling units per acre, making it suitable for neighborhoods that balance suburban character with increased housing capacity Properties within the R2 zone can include single-family residences, duplexes, and, under certain conditions, accessory dwelling units (ADUs). ADUs are allowed on lots with existing single-family or duplex structures, offering homeowners the opportunity to add rental units or accommodate extended family members.