385 E San Fernando Street, SAN JOSE, CA 95112 (MLS # ML81988216)
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A unique rental property, directly across the street from San Jose State University. This 5-unit apartment building actually has 6 legal units! There are three, 2BD/1BA units; two, 1BD/1BA units & a permitted, legal, 3BD/2BA+office SRO unit. The building is classified as 5-unit building only because there are 5 on-site parking spaces, but there are six (6) legal, permitted units. All the units are fully rented. The 3-bedroom unit is currently being rented as an SRO unit (Single Room Occupancy). The unit can continue to be operated in this manner or it can be rented out as a fully functional 3BD/2BA+office unit with minor modifications. There is also a laundry room with appliances within this unit. There is large upside potential with this property. The rents are below market, especially due to its proximity to San Jose State University, and although the units are in reasonably good condition, they could be upgraded to generate considerably higher revenue. At present the building generates $11,935 in monthly revenue. But could be generating up to $14,700/month with renovations and strong management. The building is ideally located for both student or workforce rentals. Full marketing package and disclosures available.
| LAST UPDATED | 12/12/2024 | YEAR BUILT | 1951 |
|---|---|---|---|
| COUNTY | Santa Clara | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| ADDITIONAL DETAILS | |
| APPLIANCES | Oven, Range, Refrigerator, Washer |
|---|---|
| CONSTRUCTION | Frame |
| LOT | 5850 sq ft |
| LOT DIMENSIONS | 5850.00 |
| SEWER | Public Sewer |
| WATER | Public |
| ZONING | R4 |
TOTAL MONTHLY PAYMENT
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Based on information from MLSListings MLS as of 12/25/24 9:34 AM PST. 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.
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