617 S 9th St | San Jose, CA 95112
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- LoopNet Team
617 S 9th St
San Jose, CA 95112
Multifamily Property For Sale
·
14 Units
INVESTMENT HIGHLIGHTS
- Strong operations during the pandemic - newly renovated 14-unit apartment community in downtown San Jose in the heart of Silicon Valley.
- High rents allow for exceptional cash on cash returns and the ability to obtain debt at a maximum loan to value.
- The unit interiors have been renovated with new kitchens, new bathrooms, new flooring, and paint.
- Incredible returns for a core Silicon Valley asset with a current cap rate of over 5% and a price per unit of less than $300,000 per unit.
- Limited impact of rent control since most of the units are close to market rent and over one third of the units are newly signed 1 year leases
- Extensive exterior capital improvements over the last 5 years including paint, new roof (2019), newer handrails, lighting fixtures, dual pane windows.
PROPERTY FACTS
| No. Units | 14 | Lot Size | 0.16 AC |
| Property Type | Multifamily | Building Size | 11,221 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1957/2018 |
| Building Class | C | Parking Ratio | 3.02/1,000 SF |
| Zoning | RM | ||
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 11,221 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1957/2018 |
| Parking Ratio | 3.02/1,000 SF |
| Zoning | RM |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | $1,726 | 335 |
| 1+1 | 2 | $2,022 | 665 |
PROPERTY TAXES
| Parcel Number | 472-24-013 | Improvements Assessment | $2,879,269 |
| Land Assessment | $1,288,093 | Total Assessment | $4,167,362 |
PROPERTY TAXES
Parcel Number
472-24-013
Land Assessment
$1,288,093
Improvements Assessment
$2,879,269
Total Assessment
$4,167,362
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