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555 2nd Street, San Jose, CA 95112
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555 2nd Street
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  • MLS#: ML82038519 ( )
  • Street Address: 555 2nd Street
  • Viewed: 12
  • Price: $8,280,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1928
  • Bldg sqft: 0
  • Days On Market: 47
  • Additional Information
  • County: SANTA CLARA
  • City: San Jose
  • Zipcode: 95112
  • Provided by: Marcus & Millichap
  • Contact: Eymon Eymon
  • California Regional MLS IDX
  • DMCA Notice
  • 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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Features
Building Area Total
  1. 20521.00
Carport Spaces
  1. 8.00
Cooling
  1. None
Insurance Expense
  1. 42900.00
Otherexpense
  1. 5742.00
Parcel Number
  1. 47226072
Totalexpenses
  1. 337782.00
Trash Expense
  1. 19500.00
Views
  1. 12
Water Source
  1. Public
Year Built
  1. 1928
Year Built Source
  1. Assessor
Zoning
  1. DC