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Mixed-Use Apartments in Downtown San Jose

555 S Second St, San Jose, CA 95112

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For Sale

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39-unit mixed-use property with retail space in vibrant SoFA District.

Type:Multifamily

Property size:

20,521 SF

Lot size:

0.33 Acres

Price / SF:

$403/SF

HighLights

Prime Downtown San Jose location near San Jose State University, Diridon Station, and the proposed Google Downtown West campus.
Significant value‑add opportunity with approximately 15 vacant units for renovation and repositioning.
Mixed‑use property with 38 apartments and one ground‑floor retail space.
Located in the vibrant SoFA District, offering residents a walkable urban lifestyle.
Recent upgrades to approximately 15 units and exterior improvements.
Strong local demand driven by nearby universities, expanding transit, and employment growth.

We can help!

Contact an agent

Jimmy Castellanos

For Sale

Contact for pricing

39-unit mixed-use property with retail space in vibrant SoFA District.

Type:Multifamily

Property size:

20,521 SF

Lot size:

0.33 Acres

Price / SF:

$403/SF

Added:: Mar 13, 2026
Days on Market:: 108
Last Refresh:: Mar 19 at 11:19 pm

Property Features for 555 S Second St

General Information

Standard status: Active
Size: 20,521 SF
Lot size: 0.33 Acres
Property subtype: Multifamily

Building Details

Year Built: 1928

We can help!

Contact an agent

Jimmy Castellanos

Listing office Marcus & Millichap - Palo Alto

Listing date Mar 13, 2026

Source Crexi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Palo Alto

HighLights

Prime Downtown San Jose location near San Jose State University, Diridon Station, and the proposed Google Downtown West campus.
Significant value‑add opportunity with approximately 15 vacant units for renovation and repositioning.
Mixed‑use property with 38 apartments and one ground‑floor retail space.
Located in the vibrant SoFA District, offering residents a walkable urban lifestyle.
Recent upgrades to approximately 15 units and exterior improvements.
Strong local demand driven by nearby universities, expanding transit, and employment growth.

Overview

Located at 555–569 South 2nd Street in Downtown San Jose, Metro Walk is a mixed-use apartment community featuring 39 units. Constructed in 1928, the property occupies approximately 14,474 square feet of land and includes a 38-unit apartment building and one ground-floor retail space, totaling roughly 20,521 rentable square feet. The community consists of 37 studio apartments, one one-bedroom/one-bath unit, and one retail space. Positioned within walking distance of San Jose State University, it benefits from proximity to Diridon Station and the proposed Google Downtown West campus. Approximately 15 units have been updated in the last 10 years with improvements such as updated kitchen cabinets and countertops, new carpet, baseboards, and two-tone paint. Exterior improvements include dual-pane windows and building updates. The property will be delivered with approximately 15 vacant units, offering an opportunity for renovation and repositioning. Metro Walk is situated in the SoFA District, known for its restaurants, cafés, art galleries, music venues, and boutique retail. The location provides access to entertainment, dining, and employment centers throughout Silicon Valley. The property offers stable in-place income with long-term upside.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$829.9k	$40.44
− Vacancy	−$38.0k	−$1.85
EGI	$791.9k	$38.59
− OpEx	−$237.6k	−$11.58
NOI	$554.3k	$27.01

20,521 SF · lease $40.44/SF/yr · vacancy 4.58% · expense 30.00%

Alternative Uses

Best Use

Retail

$7.92M

$6.93M – $9.24M (±1% cap)

NOI $554,303 @ 7.0% cap · market cap 6.69%

Second Best

Apartment 5plus

$6.10M

$5.34M – $7.11M (±1% cap)

NOI $426,835 @ 7.0% cap · market cap 5.16%

Theoretical Best

Office A

$12.39M

$10.84M – $14.46M (±1% cap)

NOI $867,528 @ 7.0% cap · market cap 10.48%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Trusted Forklift Certification Training Center

Suggested Use

Location Insight

Map
Local Demand

City: San Jose
County: Santa Clara
State: California
Longitude: -121.8834413
Latitude: 37.3279734

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For sale
Apartment buildings
CA
San Jose
95112
555 S Second St

What type of property is this?

Apartment building - 39-unit mixed-use property with retail space in vibrant SoFA District.

Where is this apartment building located?

The property is located at 555 S Second St San Jose, CA.

What is the asking price?

The asking price for this property is $8,280,000.

What are key features of this property?

This property features: Prime Downtown San Jose location near San Jose State University, Diridon Station, and the proposed Google Downtown West campus.; Significant value‑add opportunity with approximately 15 vacant units for renovation and repositioning.; Mixed‑use property with 38 apartments and one ground‑floor retail space.