530 N 2nd St - Apartments FOR SALE


San Jose, CA 95112- Japantown
$2,069,888 USD
408-202-7125
530 N 2nd St, San Jose, CA for Sale
$2,069,888 USD
Apartments - FOR SALE
1/34
null | 6.01% Cap Rate

530 N 2nd St
San Jose, CA 95112
Japantown


HIGHLIGHTS

  • Located in the HEART of The Silicon Valley in the South Bay Area of San Francisco - VERY STRONG demographics, incomes, and rental demand!
  • Within very affluent Japantown district of San Jose, CA - easy access to entire South Bay Area of San Francisco.
  • Turnkey asset with great cash flow - in excellent condition with many recent upgrades while retaining authentic 1898 Victorian charm.

OVERVIEW

Right in the heart of Silicon Valley is Tiffany Villa, a beautiful 7 unit Victorian property with lush, mature landscaping creating exceptional curb appeal. It generates strong, steady income with its ideal unit mix (two 2/1s, two 1/1s, and 3 studios), abundant off-street parking, and 8 rentable storage units (significant BONUS income). Authentic 1898 Victorian character shines through its spacious interiors, soaring windows, and elegant decorative details. True pride of ownership gleams from the past 21+ years of meticulous upgrades and maintenance. Front building has 5 units, a common laundry room and 8 storage units below; new roof 2005, new water heater 2019, commercial grade vinyl plank flooring in most units since 2023, some dual pane windows & LED lighting. Duplex building behind with 2/1 units; new roof 2019. Newer carpets and paint inside most units. Beautifully shaded common yard between the buildings complete with tables & seating. Great 1031 exchange upleg property with substantial appreciation opportunity during next ownership cycle. Simple upgrades are still possible over time utilizing its abundant excess cash flow. Tiffany Villa represents a rare blend of updated historic charm with a prime location in one of Silicon Valley's most desirable neighborhoods. Please do NOT disturb tenants. Submit offers subject to inspection. Buyer to cooperate with seller 1031 exchange at no expense to buyer. VERY competitive list price at 10.53 GRM and 6.01% Cap Rate for a building in such excellent condition for its age. Estimated NOI uses owner's ACTUAL operating expenses PLUS estimated real estate taxes AT LIST PRICE PLUS 5% management fee and includes a 3% vacancy factor.

FOR SALE DETAILS

PRICE

$2,069,888 USD

PRICE/SF

$506 USD /SF

# OF UNITS

7

PRICE/UNIT

$295,698

CAP RATE

6.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Tiffany Villa

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1898

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,672 SF

ZONING

RM, San Jose

APN/PARCEL ID

249-43-021

ASK ABOUT THIS PROPERTY

David PropachBut Simple, Inc.More Info
408-202-7125

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David PropachBut Simple, Inc.More Info
408-202-7125

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