555 S 2nd ST, San Jose, CA 95112
- $8,280,000
- 20,521
- SqFt
- List Price
- $8,280,000
- MLS#
- ML82038519
- Status
- ACTIVE
- Property Type
- com
- Sqft. of Residence
- 20,521
- Lot Size
- 14,474
- Listing Area
- Central San Jose
- Year Built
- 1928
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.
Additional Information
- Age
- 98
- Cooling System
- None
- Foundation
- Concrete Perimeter
- Garage Parking
- Covered Parking, Off-Street Parking
- Heating System
- Gas
- Laundry Facilities
- Coin Operated
- Living Area
- 20,521
- Lot Size
- 14,474
- Neighborhood
- Central San Jose
- Other Utilities
- Public Utilities
- Roof
- Rolled Composition
- Sewer
- Sewer - Public
- Special Features
- Parking
- Total Number Of Units
- 39
- Unincorporated Yn
- Yes
- Zoning
- DC
Mortgage Calculator
Listing courtesy of Eymon Binesh from Marcus & Millichap. 650-546-1030
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