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$8,280,000
Est. payment /mo
0.33 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82038519
HOA Y/N No
Year Built 1928
Annual Tax Amount $99,691
Lot Size 0.332 Acres
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
Area 699 - Not Defined
Zoning DC
Interior
Cooling None
Fireplace No
Exterior
Carport Spaces 8
Building
Water Public
Schools
School District San Jose Unified
Others
Tax ID 47226072
Special Listing Condition Standard
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Listed by Eymon Binesh Marcus & Millichap #02060059
Nearby School & Business
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