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$1,150,000
Est. payment /mo
6,899 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82052616
HOA Y/N No
Year Built 1898
Annual Tax Amount $20,346
Lot Size 6,899 Sqft
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 699 - Not Defined
Zoning R4
Interior
Heating Wall Furnace
Fireplace No
Exterior
Roof Type Composition
Total Parking Spaces 5
Building
Water Public
Schools
School District San Jose Unified
Others
Tax ID 24946056
Special Listing Condition Standard
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Listed by Michael Shields SiliconValley MultiFamilyGroup #01327546
Nearby Locations
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TNG Real Estate Consultants
Agent | License ID: 01886242
Agent License ID: 01886242