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Listed by Matthew Thomson • Compass
$4,153,000
Est. payment /mo
5,420 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,420 sqft
Price per Sqft $766
MLS Listing ID ML82027972
HOA Y/N No
Year Built 1901
Lot Size 0.420 Acres
Property Sub-Type Other
Source Datashare MLSListings
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
Interior
Heating Natural Gas
Cooling None
Fireplace No
Appliance Dishwasher, Refrigerator
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