508 S 11th St - Apartments FOR SALE


San Jose, CA 95112- Naglee Park
$8,295,000 USD
408-205-2679
508 S 11th St, San Jose, CA for Sale
$8,295,000 USD
Apartments - FOR SALE
1/18
null | 5.2% Cap Rate

508 S 11th St
San Jose, CA 95112
Naglee Park


HIGHLIGHTS

  • 19 of the 20 units are 2 bedroom and 2 bathroom, with 18 of them having been fully renovated.
  • Spacious units that average over 800 sqft per the county record.
  • On-site laundry for tenant convenience and additional revenue.
  • San Jose State University is two blocks away from the property.

OVERVIEW

The Azucena Group of Marcus & Millichap is the exclusive listing agent for 508 S.11th Street, a 20-unit multifamily property located two blocks from San Jose State University. This is a tremendous opportunity for an investor to acquire a property in the heart of Silicon Valley. The property has been extensively renovated, allowing a new owner to have strong cash flow from day one with a turnkey asset and reduced future costs. The unit mix consists of (19) two bedroom / two bathroom apartments that are approximately 821 sqft each and (1) one bedroom / one bathroom that is approximately 600 sqft. The property sits on a 0.29 acre (or 12,506 sq ft) lot. Among the amenities are a laundry room, assigned gated parking, and enclosed garages for additional income. Unit interiors have been extensively remodeled with vinyl plank flooring, stainless steel appliances, new furnace, quartz counter tops, new kitchen cabinets, new lighting and plumbing fixtures, new closet and bedroom doors, and fully remodeled bathrooms. The exterior has been recently repainted, new exterior wooden fencing, asphalt and restriping, hand rails, and a newer roof.

FOR SALE DETAILS

PRICE

$8,295,000 USD

PRICE/SF

$512 USD /SF

# OF UNITS

20

PRICE/UNIT

$414,750

CAP RATE

5.2%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

508 Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1963

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

UR

APN/PARCEL ID

472-29-097

ASK ABOUT THIS PROPERTY

Carlos AzucenaMarcus & MillichapMore Info
408-205-2679

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Carlos AzucenaMarcus & MillichapMore Info
408-205-2679

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