Property Details
About this Property
SELLER FINANCING AVAILABLE! 10 unit building with numerous capital improvements! There is significant upside potential with this property due to the six vacant units that are ready to be leased at market rent. If sold at market rate rents, the cap rate on this building would be 5.6%, the GRM 12.5 and the price per unit would be approximately $315,000/unit. Financials based on PRO-FORMA numbers. Unit Mix: (4) 2 bed/1 bath units, 3 are occupied and have an average rent of $1,588. Market rent for 2/1 units average $2,045 - $2,200/mo. (4) 1 bed/1 bath units, all of which are vacant and can be rented at market rates, between ($1,750 - $1,950/mo). (2) studio units; One is vacant and one is rented at $1,025/mo. Studio units in this area can be rented for up to $1,650/mo depending on size and condition. 6 tuck-under and 2 uncovered parking spaces. Marketing package available. Located less than 1 mile from San Jose State University!
MLS Listing Information
MLS #
ML81916039
MLS Source
MLSListings, Inc.
Interior Features
Kitchen
Varies by Unit
Appliances
Washer/Dryer
Flooring
Carpet, Laminate, Tile, Vinyl/Linoleum
Laundry
Coin Operated
Cooling
None
Heating
Wall Furnace
Exterior Features
Roof
Tar/Gravel
Foundation
Block
Parking, School, and Other Information
Garage/Parking
Assigned Spaces, Carport, Common Parking Area, No Garage, Garage: 0 Car(s)
Elementary District
San Jose Unified
High School District
San Jose Unified
Sewer
Public Sewer
Water
Public
Complex Amenities
None
Zoning
CO
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 4 | 10 |
| Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
|---|---|---|---|---|---|---|
| 1 | 265 | 0 | 1/0 | – | – | 2 |
| 2 | 425 | 1 | 1/0 | – | – | 4 |
| 3 | 620 | 2 | 1/0 | – | – | 4 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
232 N 3rd St is a Residential Income in San Jose, CA 95112. This 5,512 square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at – and was built in 1964. This address can also be written as 232 N 3rd St, San Jose, CA 95112.
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This listing information is up-to-date as of September 06, 2024. For the most current information, please contact Michael Shields, (408) 356-1900
