385 E San Fernando ST, San Jose, CA 95112 – ML81988216

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$1,750,000

Est. payment - /mo

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7 BD

5 BA

5,020 SqFt

Active

385 E San Fernando ST San Jose, CA 95112

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The Ruiz Group Real Estate

ruizgrpcommander@gmail.com +1(831) 917-8526

UPDATED:

12/12/2024 11:24 PM

Key Details

Property Type Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 5,020 sqft

Price per Sqft $348

MLS Listing ID ML81988216

Bedrooms 7

Full Baths 5

Year Built 1951

Lot Size 5,850 Sqft

Property Description

A unique rental property, directly across the street from San Jose State University. This 5-unit apartment building actually has 6 legal units! There are three, 2BD/1BA units; two, 1BD/1BA units & a permitted, legal, 3BD/2BA+office SRO unit. The building is classified as 5-unit building only because there are 5 on-site parking spaces, but there are six (6) legal, permitted units. All the units are fully rented. The 3-bedroom unit is currently being rented as an SRO unit (Single Room Occupancy). The unit can continue to be operated in this manner or it can be rented out as a fully functional 3BD/2BA+office unit with minor modifications. There is also a laundry room with appliances within this unit. There is large upside potential with this property. The rents are below market, especially due to its proximity to San Jose State University, and although the units are in reasonably good condition, they could be upgraded to generate considerably higher revenue. At present the building generates $11,935 in monthly revenue. But could be generating up to $14,700/month with renovations and strong management. The building is ideally located for both student or workforce rentals. Full marketing package and disclosures available.

Location

State CA

County Santa Clara

Area Central San Jose

Zoning R4

Rooms

Kitchen Appliances - Vary by Unit, Countertop - Formica, Oven Range, Refrigerator

Interior

Heating Wall Furnace

Cooling None

Flooring Carpet, Hardwood, Laminate, Vinyl / Linoleum

Laundry Washer / Dryer

Exterior

Parking Features Common Parking Area

Utilities Available Individual Electric Meters, Individual Gas Meters, Public Utilities

Roof Type Composition

Building

Foundation Concrete Perimeter

Sewer Sewer - Public, Sewer Connected, Sewer in Street

Water Public

Others

Restrictions None

Tax ID 467-24-090

Security Features None

Special Listing Condition Not Applicable

Listed by Michael Shields • SiliconValley MultiFamilyGroup

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The Ruiz Group Real Estate

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+1(831) 917-8526

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385 E San Fernando ST San Jose, CA 95112

The Ruiz Group Real Estate

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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385 E San Fernando ST