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Description
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.
Location
Listing Agent: Michael Shields Courtesy of: SiliconValley MultiFamilyGroup The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the MLSListings™ MLS system. Real estate listings held by brokerage firms other than MLSListings Inc are marked with the Internet Data Exchange icon (a stylized house inside a circle) and detailed information about them includes the names of the listing brokers and listing agents. The broker providing this data believes the data to be correct, but advises interested parties to confirm all information before relying on it for a purchase decision. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. © 2022 MLSListings Inc. All rights reserved. http://www.mlslistings.com/ Updated: 25th May, 2022 3:11 PM (UTC)
