497 Leigh Avenue
San Jose, CA 95128
Sq. Feet 6,098
The Gustavson Group of Compass Commercial is proud to present the sale of 650 South 8th Street to the Bay Area’s investment community. 650 South 8th Street is a 17-unit apartment building located just two blocks from San Jose State University in the heart of the Silicon Valley. Consturcted in 1953, the subject property contains 9,769 square feet of livable space situated on a 15,732 square foot lot.
The unit mix consists of fifteen (15) one-bedroom/one-bathroom units and two (2) quality two-bedroom/one-bathroom units. The property has recently gone through some extensive capital improvements including dual-pane windows, and updated kitchens including counters, appliances and cabinets in fifteen out of the seventeen units. The property has assigned covered/carport parking spaces, coin operated laundry room, and a center courtyard perfect for relaxation in the midst of the hustle and bustle of Downtown San Jose.
The property is located walking distance from San Jose State University who was recently recognized as "The Nation's #6 Best Public School" for the Western Region according to the “Best Colleges Rankings U.S. News & World Report”. San Jose State is an anchor of the Silicon Valley with thousands of graduates feeding into some of the top companies in the world. The subject property is the perfect choice for students, and the working professionals of the Silicon Valley. With the Downtown San Jose Market undergoing a tremendous amount of growth in recent years 650 South 8th Street offers an investor a fantastic opportunity to acquire a property with great cash flow and in a prime time location.
Cap Rate: 4.91% NOI: $249,284 Livable Sq. Ft: 9,769
Built in 1958 17 units Lot Sq. Ft: 15,637