Multifamily
620 S. 3rd St.
620 S Third St, San Jose, CA 95112
Listing Price: $1,700,000
Investment Overview
The offering is comprised of two separate parcels. Parcel 1 is a nine-unit apartment building (currently operated as 8 units). Parcel 2 is an adjacent vacant lot (ACT ID: ZAE0010054). The properties must be purchased together. The Azucena Group of Marcus & Millichap is pleased to present the opportunity to acquire 620 S. 3rd Street, a legal 9 unit Victorian style multifamily property located in Downtown San Jose. This is a tremendous opportunity for an investor to acquire a property in the heart of Silicon Valley. The property includes the main building and an additional one in the back. Recently, a neighboring undeveloped lot was purchased, allowing for additional expansion or capital improvements to the overall property. 620 S. 3rd Street is a legal 9 unit property that is currently being operated as an 8 unit multifamily property as two of the units have been combined to create a 1 bedroom / 1 bathroom unit. The unit mix consists of (3) single-room occupancy, (2) studio, and (3) one bedroom / one bathroom. The property sits on a 0.20 acre (8,833 SqFt) lot. Among the amenities are ample parking space and its location, as it allows for easy access to points of interest in the Downtown area. The adjacent vacant lot, also available for sale, measures .12 acres (5,188 SqFt).
620 S. 3rd St.
Investment Highlights
- Located in the massive economic engine of Downtown San Jose with globally recognized businesses and abundant employment opportunities.
- Existing income stream of over $143,000 annually with strong stable paying tenants and a history of high occupancy.
- Garage could be rented to generate additional revenue. Similar sized self storage units rent for upwards of $300 per-month.
- Garage may also be able to accommodate an ADU adding a new, significant source of revenue.
- Property presents numerous add-value opportunities including renovating the units, adding additional amenities, and the creation of multiple ADUs
Exclusively Listed By
Listing Price: $1,700,000
Investment Highlights
- Located in the massive economic engine of Downtown San Jose with globally recognized businesses and abundant employment opportunities.
- Existing income stream of over $143,000 annually with strong stable paying tenants and a history of high occupancy.
- Garage could be rented to generate additional revenue. Similar sized self storage units rent for upwards of $300 per-month.
- Garage may also be able to accommodate an ADU adding a new, significant source of revenue.
- Property presents numerous add-value opportunities including renovating the units, adding additional amenities, and the creation of multiple ADUs
Investment Overview
The offering is comprised of two separate parcels. Parcel 1 is a nine-unit apartment building (currently operated as 8 units). Parcel 2 is an adjacent vacant lot (ACT ID: ZAE0010054). The properties must be purchased together. The Azucena Group of Marcus & Millichap is pleased to present the opportunity to acquire 620 S. 3rd Street, a legal 9 unit Victorian style multifamily property located in Downtown San Jose. This is a tremendous opportunity for an investor to acquire a property in the heart of Silicon Valley. The property includes the main building and an additional one in the back. Recently, a neighboring undeveloped lot was purchased, allowing for additional expansion or capital improvements to the overall property. 620 S. 3rd Street is a legal 9 unit property that is currently being operated as an 8 unit multifamily property as two of the units have been combined to create a 1 bedroom / 1 bathroom unit. The unit mix consists of (3) single-room occupancy, (2) studio, and (3) one bedroom / one bathroom. The property sits on a 0.20 acre (8,833 SqFt) lot. Among the amenities are ample parking space and its location, as it allows for easy access to points of interest in the Downtown area. The adjacent vacant lot, also available for sale, measures .12 acres (5,188 SqFt).
Exclusively Listed By
