530 2Nd St San Jose, CA 95112

This exceptional 7-unit apartment building, known as Tiffany Villa, presents a compelling investment opportunity in San Jose's vibrant Japantown. The property boasts a desirable location, strong rental demand, and a proven track record of high occupancy. Comprising two buildings, one a charming 1898 Victorian structure and the other a more modern addition, the property offers a blend of historical character and updated amenities. The main building features five units, a common laundry room, and eight rentable storage units, generating additional income. Recent renovations (2019 and 2023) include new roofs (2005 and 2019), a new water heater (2019), commercial-grade vinyl plank flooring in three units (2023), and some dual-pane windows and LED lighting. The second building is a duplex with two 2-bedroom, 1-bathroom units. The property sits on a 0.13-acre lot and includes six off-street parking spaces. The current Net Operating Income (NOI) is $116,842, resulting in a 5.19% capitalization rate. The asking price is $2,250,000, with a price per square foot of $550.39. The property is currently 100% occupied and is zoned MH. This turnkey asset offers significant potential for appreciation and increased cash flow through future upgrades to kitchens, bathrooms, and the front staircase. The property is ideally suited for a 1031 exchange.