555 S 2nd Street, San Jose, CA 95112
- $8,280,000
- List Price
- $8,280,000
- Status
- ACTIVE
- MLS#
- ML82038519
- Year Built
- 1928
- Lot Size
- 14,474
- Acres
- 0.33
- Days on Market
- 190
- Property Type
- Commercial
Property Description
Marcus & Millichap is pleased to present 555 S. 2nd Street, a 39-unit apartment community located in the heart of Downtown San Jose's vibrant SoFA District. Offered at just $212,000 per unit, the property provides investors with a rare low basis in one of Silicon Valley's most dynamic urban neighborhoods. The asset features 37 studio units, one one-bedroom unit, and a ~900 SF ground-floor commercial storefront, currently vacant. The investment offers strong in-place returns with a 6.93% CAP rate and 8.8 GRM, along with attractive financing options available, creating an opportunity for immediate cash flow in a prime downtown location near San Jose State University, major tech employers, dining, and entertainment. This opportunity presents a rare opportunity to acquire scale in Downtown San Jose at an attractive basis with strong in-place cash flow and long-term upside.
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Additional Information
- Taxes
- $99,691
- Cooling
- Yes
- Cooling Description
- None
- Water
- Public
- School District
- San Jose Unified
- Attached Structure
- Detached
- Number Of Units Total
- 39
- Gross Scheduled Income
- $939,416
Listing courtesy of Listing Agent: Eymon Binesh (ebinesh@marcusmillichap.com) from Listing Office: Marcus & Millichap.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.