1137 3Rd StSan Jose, CA 95112

Property Details for 1137 3Rd St

Year built

1936

Property size (Sq ft)

4,039 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional multifamily investment opportunity in San Jose, CA, presents a 5-unit apartment building situated on a 12,632 sq ft lot (APN 235-06-017). The property boasts a strong 3.64% cap rate and a current NOI of $86,950, with 100% occupancy. Built in 1936 and extensively renovated in 2019, the property comprises four buildings, including a main two-story home and three additional dwelling units (ADUs), plus a versatile carriage house/artist studio. The main house features a charming living room with fireplace and built-ins, a well-equipped kitchen, a secondary living room, a half bath, and a laundry area on the ground floor, with three bedrooms and two bathrooms upstairs. The property's landscaping includes a paved patio and pathways connecting the units, each offering remarkable privacy within gated garden areas. The R2 zoning allows for flexibility. Located near downtown San Jose, this property offers easy access to local amenities, restaurants, and major transportation routes (HWYs 880 and 87) and San Jose International Airport (SJC). The total square footage is 4,039. This is a turnkey investment with significant potential for future growth and strong cash flow. The asking price is $2,388,000.

Location Insight

City

San Jose

County

Santa Clara

State

California

Latitude

37.3587

Longitude

-121.905

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