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Listed by Matthew Thomson • Compass
$4,153,000
Est. payment /mo
1 Bed
5,420 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,420 sqft
Price per Sqft $766
MLS Listing ID ML82027972
Bedrooms 1
Year Built 1901
Lot Size 0.420 Acres
Property Sub-Type Five or More Units
Property Description
PORTFOLIO OF FOUR PRIME PROPERTIES IN CENTRAL SAN JOSE! One Duplex & three Single-Family Homes consisting of 38 income producing Single-Room Occupancy (SRO) Units in walkable neighborhoods near downtown San Jose and San Jose State University. Each home features private bedrooms within a shared living environment designed for students, service workers, and young professionals seeking affordable, centrally located housing - 80% of current tenants are SJSU students. Addresses in order of appearance in Photos: 684 Julian St - 8 bedrooms + 3 bathrooms (fully renovated single-family home including newer ADU converted from garage). 22 S 10th St - 11 bedrooms + 4 bathrooms (Duplex). 325 E Saint John St - 9 bedrooms + 3 bathrooms (SFR). 1090 S 7th Street - 10 bedrooms + 5 bathrooms (SFR). In-place rents average 30% below market, offering a clear path to higher cash flow and a significant add-value opportunity for a new owner to make modest unit & common area improvements as turnovers occur and increase cash flow. All four properties offer parking (some permits) & storage spaces. In-place utility reimbursements for all tenants. With over 1 million residents and 36,000+ students at San Jose State University, demand for centrally located, affordable housing continues to outpace supply.
Location
State CA
County Santa Clara
Area Central San Jose
Zoning CG
Interior
Heating Forced Air, Gas
Cooling None
Exterior
Parking Features Parking Area, Varies by Unit
Utilities Available Individual Electric Meters, Individual Gas Meters, Public Utilities
Roof Type Flat / Low Pitch,Shingle
Building
Foundation Concrete Slab
Sewer Sewer - Public
Water Public
Others
Restrictions None
Tax ID 467-25-070
Security Features Security Lights
Special Listing Condition Not Applicable
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