$3,595,000
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0.32 Acres Lot
SOLD DATE : 08/31/2023
Key Details
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81929330
Sold Date 08/31/23
HOA Y/N No
Year Built 1986
Annual Tax Amount $49,876
Lot Size 0.323 Acres
Property Description
Built in 1986. Not subject to San Jose rent control. Incredible unit mix: (8) 2 bedroom / 1 bathroom townhouse style apartments and (1) 2 bedroom / 1 bathroom flat. All units feature either private patio or large private yard. Very well-maintained property. Newer roof and exterior paint. Strong in-place rents - Current GRM: 13.33 and Current Cap Rate: 4.95%. Tremendous upside potential - Market GRM: 11.88 and Market Cap Rate: 5.84%. Extremely low historical vacancy rate - 1.6% over the past 5 years. The property is located in the Edenvale neighborhood of South San Jose and is convenient to shopping, schools parks and Highways 85 & 101. This property has been lovingly maintained and updated by the same family for almost 25 years and would make a tremendous addition to any real estate portfolio.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning R34
Interior
Cooling None
Fireplace No
Exterior
Carport Spaces 9
Roof Type Composition,Shingle
Total Parking Spaces 6
Building
Water Public
Schools
School District Other
Others
Tax ID 68439014
Financing Seller Financing
Special Listing Condition Standard
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Bought with Tam Nguyen PHP Group, Inc
