Homes for sale - 155 S 11th ST, San Jose, CA 95112

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Tim Alford & Faye Bon

homes@alfordbon.com +1(408) 832-7698

Listed by Don Sung • Colliers Parrish International, Inc.

$ 4,000,000

Est. payment | -/mo

2 Beds

2 Baths

10,893 SqFt

Save

$ 4,000,000

Est. payment | -/mo

Save

2 Beds

2 Baths

10,893 SqFt

Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Pending

Purchase Type For Sale

Square Footage 10,893 sqft

Price per Sqft $367

MLS Listing ID ML82004258

Bedrooms 2

Full Baths 2

Year Built 1959

Lot Size 0.360 Acres

Property Sub-Type Five or More Units

Source MLSListings, Inc.

Property Description

Unique Oppty to Achieve 5.63% Cap or 7.39% Cap Within 3 to 6-Months. 3-Minute Walk to SJSU. Rare 25-Bedroom (With 29-Bedroom Potential) Student Housing. Fully-Vacant. SJSU Fraternity House With 10,893 SF on 3 Levels + Basement. Rehab 25 BRs, PLUS Add 4 Bedrooms to Achieve Income of 29 BRs of High-Quality Student Rental. Student Leases: August 1 to July 31, Offer Secure, Steady Cashflow w/ Minimal Vacancies. Extremely Supply-Constrained Student Housing Market Near SJSU. Considerable Interior Space w/ Numerous Repositioning Opportunities to Help Investor Achieve Premium Rents. Spacious Second and Third Floor Bedrooms (+/- 145 SF Bedrooms with 9' Ceilings) Offer Panoramic Views of SJ and SJSU Campus. 25-Parking Spaces Rear of Property - Investors May Lease Out or Include Parking in Rent for Additional NOI. Income-Generating Ideas: Onsite Gym, Movie Room, Bike Storage, Pickleball Courts, Solar Panels, Etc. CURRENT CAP Rate (If Rehab Existing Bedrooms, Baths & Kitchen): 5.63%; GRM: 10.4 (Cap Rate Inclusive of $300,000 Property Rehab Budget); Cost/SF: $367/SF. PRO-FORMA CAP Rate (If Rehab Existing Bedrooms, Baths & Kitchen PLUS Add 4 Bedrooms on Ground Floor): 7.39%; GRM: 8.9 (Inclusive of $300,000 Property Rehab + $140,000 Additional Bedrooms Budget); Cost/SF: $367/SF.

Location

State CA

County Santa Clara

Area Central San Jose

Zoning RM

Rooms

Kitchen Dishwasher, Oven Range - Gas, Refrigerator

Interior

Heating Electric, Forced Air

Cooling None

Laundry Coin Operated

Exterior

Parking Features Parking Area

Garage Spaces 25.0

Utilities Available Public Utilities

Roof Type Fiberglass

Building

Foundation Reinforced Concrete

Sewer Sewer - Public

Water Public

Others

Tax ID 467-25-101

Special Listing Condition Not Applicable

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Tim Alford & Faye Bon

REALTOR® | Lic# 01507448 | 01746037

homes@alfordbon.com

+1(408) 832-7698

518 N Santa Cruz Ave, Los Gatos, CA, 95030, USA

155 S 11th ST San Jose, CA 95112

Tim Alford & Faye Bon

Key Details

Location

Rooms

Interior

Exterior

Building

Others

155 S 11th ST