Address
560 S 7th ST San Jose, CA
Price
$ 3,490,000
Property Attributes
  • MLS#ML81867304
  • TypePending
  • CountySANTA CLARA
  • CitySan Jose
  • AreaCentral San Jose
  • Zip95112
  • StyleSpanish
  • Price$ 3,490,000
  • Bedrooms1
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage6418
  • Lot Size0.37 Acres
Listing Provided Courtesy Of:
Ismael Benhamida with Compass.
Data Source:
MLSListings - 40 - CA
Property Description

Wonderful 10-unit cottage apartment community located 1.5 blocks from San Jose State University. Offering memorandum available. CAP Rate: 4.08% Current, Proforma: 5.66%. GRM: 16.50 Current, 13.01 Proforma. Current monthly rent of $17,631 with massive upside. The property has 9 buildings situated on a 16,302 SqFt lot with classical Spanish architecture and lush landscaping in a tranquil, garden-style community. There are 8 large one-bedroom/one-bath cottages with patios, basements, and individual water heaters. The two studios are located in separate buildings with garages & covered parking in the back of the property. Amenities include private patios, storage rooms, onsite parking, laundry room, and a new wrought-iron gate. Cottages are rare in Downtown San Jose and there is an opportunity to create value by renovating the units to the high specification preferences of technology employees. The new Google mega-campus is expected to bring up to 20,000 workers into Downtown San Jose.

Price History
10/19/2021 Listed $3,490,000

General Features

# of Buildings 9
Accessibility None
Age 97
Architectural Style Spanish
Association Amenities Additional Storage, Garden / Greenbelt / Trails
City SAN JOSE
City Limits (y/n) Yes
Construction Materials Concrete Block
Cooling Ceiling Fan, Window / Wall Unit
County Santa Clara
Flooring Carpet, Hardwood
Heating Wall Furnace
Listing Agent State License 01722847
MLS Area Central San Jose
Number of Garage Spaces 2
Property SubType Five or More Units
Property Type Commercial Multi-Residential (5+ units)
Restrictions None
Roof Tile
Security Features None
Special Listing Conditions Not Applicable
Status Pending (Do Not Show)
Utilities Individual Electric Meters, Individual Gas Meters, Public Utilities
View Garden / Greenbelt
Virtual Tour https://560south7th.com/
Virtual Tour https://560south7th.com/idx
Water Individual Water Meter, Public
Year Built 1924
Zoning Text RM

Interior Features

Kitchen Dishwasher, Refrigerator
Laundry Features Coin Operated
Living Sqft 6418
Unit 1 Rent 1750
Unit 2 Approx Square Footage 500

Exterior Features

Building Area Total 6418
Foundation Details Concrete Block
Lot Acres 0.3742
Lot Size Area 16302.00
Lot Size Units Square Feet
Maximum Lot Size 16302.00
Meters Master Water, Separate Electric, Separate Gas
Parking Features Assigned Spaces, Covered Parking, On Street, Varies by Unit
Parking Spaces 3
Sewer/Septic Sewer - Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Pending Average in 95112

Price
AVG $970K
$3.49M
Visits
AVG 20
4
Year Built
AVG 1948
1924
Walkscore
AVG 75
89
Data Provided by Walkscore ® not using MLS data

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