385 East San Fernando Street
$1,750,000
—
5,020
5,020
$349
Description
A unique rental property, directly across the street from San Jose State University. This 5-unit apartment building actually has 6 legal units! There are three, 2BD/1BA units; two, 1BD/1BA units & a permitted, legal, 4BD/2BA unit. The building is classified as 5-unit building only because there are 5 on-site parking spaces, but there are six (6) legal, permitted units. All the units are fully rented. The four-bedroom unit is currently being rented as an SRO unit (Single Room Occupancy), meaning the...A unique rental property, directly across the street from San Jose State University. This 5-unit apartment building actually has 6 legal units! There are three, 2BD/1BA units; two, 1BD/1BA units & a permitted, legal, 4BD/2BA unit. The building is classified as 5-unit building only because there are 5 on-site parking spaces, but there are six (6) legal, permitted units. All the units are fully rented. The four-bedroom unit is currently being rented as an SRO unit (Single Room Occupancy), meaning the bedrooms are rented out individually. The unit can continue to be operated in this manner or it can be rented out as a fully functional 4BD/2BA unit as it has a kitchen and a large living room. There is also a laundry room with appliances within this unit. There is large upside potential with this property. The rents are below market, especially due to its proximity to San Jose State University, and although the units are in reasonably good condition, they could be upgraded to generate considerably higher revenue. At present the building generates $11,935 in monthly revenue. But could be generating up to $15,300/month with renovations and strong management. The building is ideally located for both student or workforce rentals.
- Listed by Michael Shields • DRE #01327546 • Brokerage DRE #01327546 • SiliconValley MultiFamilyGroup • 408-356-1900
Property Details for 385 East San Fernando Street
MLS City Name
SAN JOSE
Building TypeOther
Garage Spaces0
Parking Spaces5
Cross Street10th Street & E
LISTING UPDATED: 12/09/2024 06:20 PM
Property Details for 385 East San Fernando Street
Status | Active |
---|---|
MLS # | ML81988216 |
Days on Compass | 2 |
Taxes | $23,135 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family 5+ |
MLS Type | 5+ Units / Five or More Units |
Year Built | 1951 |
Lot Size | 0.13 AC / 5,850 SF |
County | Santa Clara County |
Building Information for 385 East San Fernando Street
Stories-Residences-Year Built1951Building Size-Lot Size0.13 AC / 5,850 SF
Property Information for 385 East San Fernando Street
Property History for 385 East San Fernando Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 385 East San Fernando Street
Taxable ValueLand$175,697Additions$327,647Total$503,344
Tax Record2024$8,430 ($702 / month)
Home Facts
Total Finished SqFt5,020 SqFtAbove Grade Finished SqFt5,020 SqFtStories2Lot Size5,850 SqFtStyleMulti-Family Res (5+ Units)Year Built1951ZoningR4CountySANTA CLARAAPN467-24-090Fireplace TypeHas Fireplace
Schools near 385 East San Fernando Street
This home is within San Jose Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | 5 to 8 |
Rating | School | Distance |
---|---|---|
Horace Mann Elementary School PublicK to 5 | ||
Herbert Hoover Middle School Public6 to 8 | ||
Abraham Lincoln High School Public9 to 12 | ||
Ace Inspire Academy Charter5 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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