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About the Listing ML5012166 - ML5086143
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.
Listing Highlights for 584 N 2nd St
Status
Active
Days on Site
59
Property Type
Commercial Sale
MLS ®
ML82014237
Year Built
1949
Total Square Footage
4,644
Lot/Acreage
N/A
County
Santa Clara
Area
699 - Not Defined
Interior Details
- Bedrooms: 0
- Bathrooms: Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 2
- Zoning: C
- Roof: Composition,Shingle
- Others:
- Sewer:
Financial Details
- Tax Amount: $23,351
- Taxes w/Assessments: N/A
- Tax/Property ID: 24943029
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Years
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Listing Location
Questions About..
584 N 2nd St San Jose, CA 95112
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