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Listed by Marcus & Millichap
$ 8,280,000
Est. payment /mo
Active
555 S 2nd Street San Jose, CA 95112
20,521 SqFt
UPDATED:
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
Source Datashare MLSListings
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
Interior
Heating Natural Gas
Cooling None
Fireplace No
Appliance Refrigerator
Laundry Coin Operated
Building
Water Public