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$4,153,000
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82027972
HOA Y/N No
Year Built 1901
Annual Tax Amount $60,468
Property Description
PORTFOLIO OF FOUR PRIME PROPERTIES IN CENTRAL SAN JOSE! One Duplex & three Single-Family Homes consisting of 38 income producing Single-Room Occupancy (SRO) Units in walkable neighborhoods near downtown San Jose and San Jose State University. Each home features private bedrooms within a shared living environment designed for students, service workers, and young professionals seeking affordable, centrally located housing - 80% of current tenants are SJSU students. Addresses in order of appearance in Photos: 684 Julian St - 8 bedrooms + 3 bathrooms (fully renovated single-family home including newer ADU converted from garage). 22 S 10th St - 11 bedrooms + 4 bathrooms (Duplex). 325 E Saint John St - 9 bedrooms + 3 bathrooms (SFR). 1090 S 7th Street - 10 bedrooms + 5 bathrooms (SFR). In-place rents average 30% below market, offering a clear path to higher cash flow and a significant add-value opportunity for a new owner to make modest unit & common area improvements as turnovers occur and increase cash flow. All four properties offer parking (some permits) & storage spaces. In-place utility reimbursements for all tenants. With over 1 million residents and 36,000+ students at San Jose State University, demand for centrally located, affordable housing continues to outpace supply.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning CG
Interior
Heating Forced Air
Cooling None
Fireplace No
Exterior
Roof Type Flat,Shingle
Total Parking Spaces 18
Building
Water Public
Schools
School District San Jose Unified
Others
Tax ID 46725070
Security Features Security Lights
Special Listing Condition Standard
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Listed by Matthew Thomson Compass
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