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$ 8,280,000
Est. payment | /mo
20,521 SqFt
$ 8,280,000
Est. payment | /mo
20,521 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 20,521 sqft
Price per Sqft $403
MLS Listing ID ML82038519
HOA Y/N No
Year Built 1928
Lot Size 0.332 Acres
Property Sub-Type Other
Property 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.
Location
State CA
County Santa Clara
Zoning DC
Interior
Heating Natural Gas
Cooling None
Fireplace No
Appliance Refrigerator
Laundry Coin Operated
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 47226072
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Listed by Eymon Binesh • Marcus & Millichap
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Patrick Nagel
REALTOR® | Lic# 1760790