128 E Reed St - Apartments FOR SALE


San Jose, CA 95112- Sun
$2,575,000 USD
408-483-5040
128 E Reed St, San Jose, CA for Sale
$2,575,000 USD
Apartments - FOR SALE
1/24
null | 4.8% Cap Rate

128 E Reed St
San Jose, CA 95112
Sun


HIGHLIGHTS

  • BUILT IN 1980 - Not Subject to San Jose City Rent Control
  • PRIME DOWNTOWN SAN JOSE LOCATION - SUN Neighborhood near San Jose State University
  • PRIDE OF OWNERSHIP - Renovated Asset Demonstrates Pride of Ownership with $370K+ of Recent Upgrades
  • WASHER AND DRYER In-Unit Laundry (3 Units) + New Common Area Coin Operated Washer and Dryer
  • GATED COMMUNITY With Secure Entrances
  • COMMUTER FRIENDLY LOCATION - Fantastic Location for Commuters & Students

OVERVIEW

Jimmy Castellanos is pleased to present 128 E. Reed Street, a well-maintained six-unit multifamily investment located near San Jose State University in the SUN neighborhood. Construction was completed in 1980, and as such, the property is not subject to the City of San Jose’s rent control ordinance, providing an owner with greater flexibility in rent growth. The asset offers a desirable and balanced unit mix consisting of two (2) two-bedroom/two-bath units, two (2) two-bedroom/one-bath units, and two (2) studio apartments. The improvements total approximately 4,386 rentable square feet and are situated on an 8,833 square foot parcel, providing an efficient, low-density footprint in a highly sought-after urban infill location.

FOR SALE DETAILS

PRICE

$2,575,000 USD

PRICE/SF

$587 USD /SF

# OF UNITS

6

PRICE/UNIT

$429,167

CAP RATE

4.8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

128 East Reed

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1979

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

RM, San Jose

APN/PARCEL ID

472-27-055

ASK ABOUT THIS PROPERTY

Jimmy CastellanosMarcus & MillichapMore Info
408-483-5040

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Jimmy CastellanosMarcus & MillichapMore Info
408-483-5040

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.