336 N 5th Street | San Jose
San Jose, CA 95112
Sq. Feet 10,018
The Gustavson Group of Compass Commercial is pleased to bring to market two extensively upgraded “Victorian- Style” structures situated on one parcel, located at 70 and 74 North 10th Street in rapidly expanding and highly desirable, San Jose, California.
The property is a legal nine-unit apartment complex located just one block north of Santa Clara St. on the fringe of core Downtown San Jose. It is just two blocks from San Jose State University and has excellent access to public transportation, employment, and shopping. The unit mix contains four (4) large studios averaging 500-540 square feet of livable space in each. Three of the four studios were completely remodeled in the last three months. There are five (5) one-bedroom units ranging from approximately 660-875 square feet each. Both structures contain internal hallways and renovated common areas.
Originally constructed in 1912, the current owner has owned and operated the property for over forty (40) years; the property was last on the market in 1977. Upgrades have been made with an eye towards the long-term ownership, and the units are not on the historical registry. Seven (7) of the nine (9) total units were fully remodeled in the last six months.
Cap Rate: 5.47% NOI: $136,665 Livable Sq. Ft: 6,025
Built in 1912/2016 Renovation 9 units Lot Sq. Ft: 0.15 Acres