Well maintained 20 unit apartment building in Downtown San Jose, 2 blocks from San Jose State University. 13, 2BD/1BA units & 7, 1BD/1BA units. Units are at or near market rates. Opportunity exists to increase rents. (Subject to San Jose ARO). Income for 2022 is projected to be $439,201 and at market level the building should generate $530,400 annual income. Average rent for the 2BD/1BA units is $1,943 and $1,605 for the 1BD/1BA units. Average rents for a comparable 2BED unit in the area is $2,350 and $1,950 for a 1BED unit. On-site laundry facility generates additional income of $1,300 annually. All of the units have been renovated including: kitchens & baths, laminate flooring, and double-pane windows. Built in 1963, classic three-story, walk-up, Garden Style. 18 tuck-under parking spaces and 4 uncovered spaces on-site. Tenants pay gas, electric, phone & cable. Owner pays water & sewer, trash and common area utilities. Very strong rental area.
- Price:
- $6,550,000
- Square Footage:
- 15,306
- Acreage:
- 0.30
- Year Built:
- 1963
- Listing ID #:
- ML81889377
- Street Address:
- 635 S 11th St
- City:
- San Jose
- State:
- California
- Postal Code:
- 95112
- County:
- Santa Clara
- Listing Status:
- Active
- Listing Type:
- Commercial Sale
- Flooring:
- Laminate
- Total Building Square Footage:
- 15306
- Type Of Roof:
- Composition Shingles
- Year Built:
- 1963
- Lot Size:
- 13068
- Lot Square Footage:
- 13022
- Parking Description:
- Assigned
- Appliances:
- Refrigerator
- Existing Water:
- Public
- Heating:
- Wall Furnace
- Laundry:
- Coin Operated
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.
Your Payment
$1,400/mo
Source: CINC
- Listing Provided By Michael Shields of Siliconvalley Multifamilygroup
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