A unique rental property, directly across the street from San Jose State University. This 5-unit apartment building actually has 6 legal units! There are three, 2BD/1BA units; two, 1BD/1BA units & a permitted, legal, 3BD/2BA+office SRO unit. The building is classified as 5-unit building only because there are 5 on-site… Read More parking spaces, but there are six (6) legal, permitted units. All the units are fully rented. The 3-bedroom unit is currently being rented as an SRO unit (Single Room Occupancy). The unit can continue to be operated in this manner or it can be rented out as a fully functional 3BD/2BA+office unit with minor modifications. There is also a laundry room with appliances within this unit. There is large upside potential with this property. The rents are below market, especially due to its proximity to San Jose State University, and although the units are in reasonably good condition, they could be upgraded to generate considerably higher revenue. At present the building generates $11,935 in monthly revenue. But could be generating up to $14,700/month with renovations and strong management. The building is ideally located for both student or workforce rentals. Full marketing package and disclosures available. Read Less
Courtesy of SiliconValley MultiFamilyGroup, Michael Shields 408-356-1900
Listing Snapshot
Days Online
57
Last Updated
Property Type
Five Or More Units
Square Ft.
5,020
Lot Size
0.13 Acres
Year Built
1951
MLS Number
ML81988216
30 Days Snapshot Of 95112
$924k
-14%
(avg) sold price
7
-36%
homes sold
55
+27%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
Max Area: 5850.00, Max Area Units: Square Feet, Lot is 0.13429752066116 acres
Accessibility Features
Grab Bars
Unit One
2 bedrooms
Unit Two
bedrooms: 2
Unit Three
bedrooms: 2
Unit Four
1 bedroom
Building
5,020 structure square feet, Age: 73, Built in 1951, 1 building, Construction type: Wood Frame, 5 minimum units in complex
Cooling
None
Floors
Carpet, Hardwood, Laminate, Vinyl / Linoleum
Foundation
Concrete Perimeter
Garage
Common Parking Area
Water Features
Public
Heating
Wall Furnace
Kitchen
Appliances - Vary by Unit, Countertop - Formica, Oven Range, Refrigerator
Laundry
Washer / Dryer
Tenant Pays
Utilities - Electric, Utilities - Gas
Miscellaneous
Total expenses: 51370
Parking
5 parking spaces
Property
Zoning: R4
Roof
Composition
Security Features
None
Taxes
Annual tax amount: $23,135
Sewer
Sewer - Public, Sewer Connected, Sewer in Street
Utilities
Master Water, Separate Common Area, Separate Electric, Separate Gas, Individual Electric Meters, Individual Gas Meters, Public Utilities
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