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Wilson Leung

wilson@theownteam.com +1(650) 280-8888

Listed by Michael Shields • SiliconValley MultiFamilyGroup, DRE#01327546

$ 1,150,000

Est. payment | -/mo

1 Bed

2 Baths

1,332 SqFt

Save

$ 1,150,000

Est. payment | -/mo

Save

1 Bed

2 Baths

1,332 SqFt

Key Details

Property Type Commercial Multi-Residential (5 units)

Sub Type Five or More Units

Listing Status Contingent

Purchase Type For Sale

Square Footage 1,332 sqft

Price per Sqft $863

MLS Listing ID ML82052616

Bedrooms 1

Full Baths 2

Year Built 1898

Lot Size 6,900 Sqft

Property Sub-Type Five or More Units

Property Description

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 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.

Location

State CA

County Santa Clara

Area Central San Jose

Zoning R4

Rooms

Other Rooms Attic, Laundry Room, Storage

Interior

Heating Wall Furnace

Cooling Ceiling Fan

Flooring Carpet, Laminate, Tile, Vinyl / Linoleum

Laundry Washer / Dryer

Exterior

Parking Features Uncovered Parking

Utilities Available Public Utilities

Roof Type Composition

Building

Foundation Concrete Perimeter

Sewer Sewer - Public, Sewer Connected, Sewer in Street

Water Public

Others

Restrictions None

Tax ID 249-46-056

Security Features None

Special Listing Condition Not Applicable

+1(650) 280-8888

wilson@theownteam.com

1651 El Camino Real, Millbrae, CA 94030, United States

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315 N 5th ST San Jose, CA 95112