530 2Nd St San Jose, CA 95112
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San Jose, CA: Turnkey Multifamily Investment
Property size:
4,088 SFProperty Features for 530 2Nd St
General Information
- Property type
- Multifamily properties
- Square Feet
- 4,088 SF
- Lot Size
- 5,663 SF
Building Details
- Buildings
- 2
- Stories
- 2
- Units
- 7
Listing Agency: But Simple, Inc. Listing Agent: David Propach
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional 7-unit apartment building, known as Tiffany Villa, presents a compelling investment opportunity in San Jose's vibrant Japantown. The property boasts a desirable location, strong rental demand, and a proven track record of high occupancy. Comprising two buildings, one a charming 1898 Victorian structure and the other a more modern addition, the property offers a blend of historical character and updated amenities. The main building features five units, a common laundry room, and eight rentable storage units, generating additional income. Recent renovations (2019 and 2023) include new roofs (2005 and 2019), a new water heater (2019), commercial-grade vinyl plank flooring in three units (2023), and some dual-pane windows and LED lighting. The second building is a duplex with two 2-bedroom, 1-bathroom units. The property sits on a 0.13-acre lot and includes six off-street parking spaces. The current Net Operating Income (NOI) is $116,842, resulting in a 5.19% capitalization rate. The asking price is $2,250,000, with a price per square foot of $550.39. The property is currently 100% occupied and is zoned MH. This turnkey asset offers significant potential for appreciation and increased cash flow through future upgrades to kitchens, bathrooms, and the front staircase. The property is ideally suited for a 1031 exchange.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial real estate
Location Insight
- Map
- Local Demand
- City
- San Jose
- County
- Santa Clara
- State
- California
- Longitude
- -121.8959935
- Latitude
- 37.3462053
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FAQs
What type of property is this?
Multifamily property - San Jose, CA: Turnkey Multifamily Investment
Where is this multifamily property located?
The property is located at 530 2Nd St San Jose, CA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Prime Silicon Valley location in San Jose's affluent Japantown, offering strong rental demand and high incomes.; Turnkey asset with excellent cash flow and recent upgrades, preserving its historic 1898 Victorian charm.; Easy access to the entire South Bay Area.
