523 N 2nd St - Multi-Family FOR SALE


San Jose, CA 95112- Japantown
$10,600,000 USD
650-888-7696
523 N 2nd St, San Jose, CA for Sale
$10,600,000 USD
Multi-Family - FOR SALE
1/9
null | 6.1% Cap Rate

523 N 2nd St
San Jose, CA 95112
Japantown


HIGHLIGHTS

  • Roof: New Roof 2024 (All three Roofs replaced
  • Balconies: SB721 Compliant
  • All Studios: Vaulted Ceilings
  • Gated Entry on Both sides of the property
  • Directly Across the Street from Japantown/Ayer Light Rail Station
  • Less than one (1) mile from Downtown San Jose

OVERVIEW

For Additional information please contact Cole Simpson at cole.simpson@marcusmillichap or 650-391-1735. 523 N 2nd St is an exceptional 39-unit apartment community located in the thriving city of San Jose, California. Situated on a 0.87 acre parcel of land, the subject property was originally constructed in 1948 and has a gross building area of approximately 18,320 total square feet, offering its tenants beautifully designed two-bedroom, one-bedroom, and studio floor plans. Residents at 523 N 2nd St enjoy multiple convenient community amenities including an on-site laundry facility, private covered parking, secured gated perimeter and a secluded community courtyard area. The subject property has also recently undergone extensive capital improvements such as a new roof installed in 2024, complete interior renovations for all units, and dual-pane windows throughout. 523 N 2nd St sits near Downtown San Jose and is within walking distance to the Target anchored San Jose Market Center, both being home to a myriad of dining, shopping, and entertainment options. The subject property also boasts convenient access to the San Jose Mineta International Airport (SJC). SJC is one of the busiest airports in all of Northern California serving millions of passengers every year to both domestic and international destinations. The investment appeal of this asset is driven by San Jose's strong employment fundamentals and low vacancy levels. With a world class location the heart of Silicon Valley, 523 N 2nd St presents an attractive choice for South Bay renters due to its close proximity to major employers, transportation corridors, shopping, dining and entertainment.

FOR SALE DETAILS

PRICE

$10,600,000 USD

PRICE/SF

$579 USD /SF

# OF UNITS

39

PRICE/UNIT

$271,795

CAP RATE

6.1%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

523 N 2nd St, San Jose, CA 95112-5316

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1948

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.87 AC

LAND SF

37,897 SF

ZONING

R3

APN/PARCEL ID

249-43-042

ASK ABOUT THIS PROPERTY

Cole SimpsonMarcus & MillichapMore Info
650-888-7696

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Cole SimpsonMarcus & MillichapMore Info
650-888-7696

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