Investment Overview

523 N 2nd St is an exceptional 39-unit apartment community located in the thriving city of San Jose, California. Situated on a 0.87 acre parcel of land, the subject property was originally constructed in 1948 and has a gross building area of approximately 18,320 total square feet, offering its tenants beautifully designed two-bedroom, one-bedroom, and studio floor plans. Residents at 523 N 2nd St enjoy multiple convenient community amenities including an on-site laundry facility, private covered parking, secured gated perimeter and a secluded community courtyard area. The subject property has also recently undergone extensive capital improvements such as a new roof installed in 2024, complete interior renovations for all units, and dual-pane windows throughout. 523 N 2nd St sits near Downtown San Jose and is within walking distance to the Target anchored San Jose Market Center, both being home to a myriad of dining, shopping, and entertainment options. The subject property also boasts convenient access to the San Jose Mineta International Airport (SJC). SJC is one of the busiest airports in all of Northern California serving millions of passengers every year to both domestic and international destinations. The investment appeal of this asset is driven by San Jose's strong employment fundamentals and low vacancy levels. With a world class location the heart of Silicon Valley, 523 N 2nd St presents an attractive choice for South Bay renters due to its close proximity to major employers, transportation corridors, shopping, dining and entertainment.