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Jason Born

jason@jasonborn.com +1(650) 918-7048

Listed by Ismael Benhamida • Compass

$2,000,000

Est. payment - /mo

3 Beds

3 Baths

4,644 SqFt

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Thu Jul 17, 11:00am - 1:00pm

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Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 4,644 sqft

Price per Sqft $430

MLS Listing ID ML82014237

Style Spanish

Bedrooms 3

Full Baths 3

Year Built 1949

Lot Size 9,522 Sqft

Property Sub-Type Five or More Units

Source MLSListings, Inc.

Property Description

CAP Rate: 5.16% (Current), 8.34% (Proforma). GRM: 12.59 (Current), 8.73 (Proforma). Wonderful 8-unit apartment building located 2 blocks from Japantown, 1 block from the VTA Light Rail, and walking distance to San Jose State University. Tranquil courtyard with lush landscaping on a quiet street. (2) 2-Bed/1-Bath, (2) 1-Bed/1-Bath, & (4) studio units. Dual pane windows, new electrical main & sub-panels, individual water heaters, carport parking, & a large storage/laundry room in the rear. Opportunity to increase income & add value by upgrading the existing unit interiors upon turnover with air conditioners, electric car chargers, in-unit laundry, & fully renovating the unit interiors with high specification finishes to meet the demand of high-income technology employees by. California SB-1211 allows for the carport and storage laundry room to be converted into up to 8 ADU units based on a pre-feasibility analysis completed by an ADU consultancy (Buyer to verify with the City of San Jose Planning Department). The robust high-tech job growth, shortage of housing units, and value-add opportunity, make 584 N. 2nd Street a great opportunity for both the cash-flow and appreciation-minded investor.

Location

State CA

County Santa Clara

Area Central San Jose

Zoning C

Rooms

Kitchen Oven Range, Refrigerator

Interior

Heating Central Forced Air - Gas

Cooling Ceiling Fan

Flooring Carpet, Tile

Laundry Washer / Dryer

Exterior

Parking Features Common Parking Area

Garage Spaces 2.0

Utilities Available Individual Electric Meters, Individual Gas Meters, Public Utilities

Roof Type Composition,Shingle

Building

Lot Description Regular

Foundation Concrete Slab

Sewer Sewer - Public

Water Public

Architectural Style Spanish

Others

Tax ID 249-43-029

Special Listing Condition Not Applicable

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Jason Born

Broker | License ID: 01472799

+1(650) 918-7048

584 N 2nd ST San Jose, CA 95112

Jason Born

OPEN HOUSE

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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584 N 2nd ST