Downtown San Jose multifamily property presents a value-add opportunity for investors experienced in property renovation and lease-up strategies. The property consists of 5 units, including one 1br/1ba unit and four studios. One of the vacant studio units is rentable in its current condition with limited repairs, while the other two… Read More vacant studios require renovation prior to occupancy. While various improvements have been made over the years, the building would be more valuable and command higher rents if the units were renovated and additional capital improvements are made. The building is master-metered for water, sewer, gas, and electricity, all of which are currently paid by the owner. Plumbing consists primarily of galvanized piping. The building includes a large unfinished attic area that may offer development opportunities. The property also contains a substantial basement area with multiple storage rooms. Property includes an on-site washer and dryer for tenant use. Rear parking area accommodates approximately six vehicles. The property is located within Downtown San Jose and provides convenient access to major employment centers, public transportation, retail services, restaurants, entertainment venues, and ongoing redevelopment activity throughout the urban core. Read Less
Courtesy of SiliconValley MultiFamilyGroup, Michael Shields 408-356-1900
Listing Snapshot
Days Online
1
Last Updated
Property Type
Five Or More Units
Square Ft.
1,332
Lot Size
0.16 Acres
Year Built
1898
MLS Number
ML82052616
30 Days Snapshot Of 95112
$1.09M
+8%
(avg) sold price
17
-19%
homes sold
38
-9%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
Max Area: 6900.00, Max Area Units: Square Feet, Lot is 0.15840220385675 acres
Accessibility Features
None
Unit Two
bedroom 1
Building
1,332 structure square feet, Age: 128, Built in 1898, 1 building, Construction type: Wood Frame, 5 minimum units in complex
Cooling
Ceiling Fan
Floors
Carpet, Laminate, Tile, Vinyl / Linoleum
Foundation
Concrete Perimeter
Garage
Uncovered Parking
Water Features
Public
Heating
Wall Furnace
Laundry
Washer / Dryer
Tenant Pays
None
Miscellaneous
Total expenses: 43388
Parking
5 parking spaces
Property
Zoning: R4
Roof
Composition
Security Features
None
Taxes
Annual tax amount: $20,346
Sewer
Sewer - Public, Sewer Connected, Sewer in Street
Utilities
Master Electric, Master Gas, Master Water, Public Utilities
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