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Listed by Carlos Azucena • Marcus & Millichap
$8,295,000
Est. payment /mo
3 Beds
3 Baths
16,199 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 16,199 sqft
Price per Sqft $512
MLS Listing ID ML82005501
Bedrooms 3
Full Baths 3
Year Built 1963
Lot Size 0.287 Acres
Property Sub-Type Five or More Units
Property Description
The Azucena Group of Marcus & Millichap is the exclusive listing agent for 508 S.11th Street, a 20-unit multifamily property located two blocks from San Jose State University. This is a tremendous opportunity for an investor to acquire a property in the heart of Silicon Valley. The property has been extensively renovated, allowing a new owner to have strong cash flow from day one with a turnkey asset and reduced future costs. The unit mix consists of (19) two bedroom / two bathroom apartments that are approximately 821 sqft each and (1) one bedroom / one bathroom that is approximately 600 sqft. The property sits on a 0.29 acre (or 12,506 sq ft) lot. Among the amenities are a laundry room, assigned gated parking, and enclosed garages for additional income. Unit interiors have been extensively remodeled with vinyl plank flooring, stainless steel appliances, new furnace, quartz counter tops, new kitchen cabinets, new lighting and plumbing fixtures, new closet and bedroom doors, and fully remodeled bathrooms. The exterior has been recently repainted, new exterior wooden fencing, asphalt and restriping, hand rails, and a newer roof.
Location
State CA
County Santa Clara
Area Central San Jose
Zoning UR
Interior
Heating Wall Furnace
Cooling None
Exterior
Parking Features Parking Area, Uncovered Parking
Garage Spaces 6.0
Utilities Available Individual Electric Meters, Individual Gas Meters
Roof Type Flat / Low Pitch
Building
Foundation Concrete Slab
Sewer Sewer - Public
Water Public
Others
Restrictions None
Tax ID 472-29-097
Security Features Controlled / Secured Access
Special Listing Condition Not Applicable
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