555-569 South 2nd Street

San Jose, CA 95112

$9,600,000
Last Sold Price
Beds
20,521 Sq. Ft.
$468 / Sq. Ft.
20,521
Sq. Ft.
$468
per Sq. Ft.

Description

Metro Walk offers an opportunity to acquire an excellent income property with a 38-unit apartment complex plus 1 retail store in a dynamic rental location that can be redeveloped potentially in the future. Exterior renovation includes dual pane windows, exterior paint, and lights. 24 units extensively updated most with new kitchen cabinets, countertops, carpet, baseboards, and two-tone paint. Strong in place rents with upside potential. Market GRM/Cap Rate: 13.12 / 5.3%. New laundry room in process...Metro Walk offers an opportunity to acquire an excellent income property with a 38-unit apartment complex plus 1 retail store in a dynamic rental location that can be redeveloped potentially in the future. Exterior renovation includes dual pane windows, exterior paint, and lights. 24 units extensively updated most with new kitchen cabinets, countertops, carpet, baseboards, and two-tone paint. Strong in place rents with upside potential. Market GRM/Cap Rate: 13.12 / 5.3%. New laundry room in process for additional income. Outstanding rental location blocks from future Google campus, San Jose State, Diridon Station, San Jose International Airport and future BART station. Strategically located in a designated Opportunity Zone in the vibrant SoFA district of Downtown San Jose.
  1. Listed by Carlos Padilla • DRE #01342889 • Brokerage DRE #01354442 • Intero Real Estate Services • 408-887-6420
  2. Listed by Jim Mcarthur • DRE #01766468 • Brokerage DRE #01354442 • Intero Real Estate Services

Property Details for 555-569 South 2nd Street

MLS City Name
SAN JOSE
Building Type
Other
Complex Name
Metro Walk
Garage Spaces
0
Parking Spaces
0
Cross Street
William Street
LISTING UPDATED: 04/21/2022 12:30 PM

Property Details for 555-569 South 2nd Street

StatusSold
MLS #ML81824753
Days on Compass163
Taxes$122,325 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family 5+
MLS Type5+ Units / Five or More Units
Year Built1928
Lot Size0.33 AC / 14,474 SF
CountySanta Clara County

Virtual Tour

Building Information for 555-569 South 2nd Street

Stories-Residences-Year Built1928Building Size-Lot Size0.33 AC / 14,474 SF

Property Information for 555-569 South 2nd Street

Features
External Links
Room Information
  • Additional Rooms: Storage
  • Kitchen: Hood Over Range, Oven Range - Gas, Refrigerator
Features
  • Amenities: High Ceiling, Security Gate, Walk-in Closet
  • Communications: Cable TV
  • Fireplace: No
  • Flooring: Carpet, Tile, Vinyl / Linoleum
  • Living SqFt: 20521
  • Pool: No
  • Security Features: Fire Alarm, Secured Garage / Parking
  • Special Features: Parking
Utilities
  • Cooling: None
  • Heating: Gas, Wall Furnace
  • Meters: Master Water, Separate Common Area, Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Water: Public
Carport and Parking
  • Carport Min: 8
Garage
  • Garage and Parking: Carport, Off-Street Parking, Varies by Unit
Property Details
Homeowners Association
  • HOA Amenities: Community Security Gate
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Building Name: Metro Walk
  • Min Num Of Units in Complex: 39
  • Area Text: Central San Jose
  • Restrictions: Pets - Allowed
  • Roof: Composition
  • Stories: 0.0
  • Subclass: Five or More Units
  • Year Built Source: Other
  • Street Number: 555-569
  • Street Name: 2nd
  • Street Direction Prefix: South
  • Street Suffix: Street
  • Area ID: 9
Lot / Property Details
Building Information
  • Number of Buildings: 2
  • Structure SqFt: 20521
  • Structure SqFt Source: Other
  • Age: 93
Development Information
  • Ownership Type: Trust
  • Zoning Detail: DC
Location Information
  • City Limits: Yes
  • Incorporated: Yes
  • Parcel Number: 472-26-072
  • County Name: Santa Clara
  • City Name: SAN JOSE
  • City Postal ID: 58
  • Postal Code: 95112
  • Elementary School: 364
  • Elementary School District: 482
  • Middle School Text: Herbert Hoover Middle
  • High School District Text: San Jose Unified
  • High School Text: Abraham Lincoln High
Lot Information
  • Foundation: Concrete Perimeter
  • Lot Acres: .33
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Mobile / Manufactured Information
Other Information
  • Dual Variable: Yes
Multi Family Information
Building Information
  • No Of Leased: 35
General Information
  • Annual Tax Amount: $122,325
  • Capitalization Rate: 4.07
  • Tenant Expenses: Utilities - Electric
  • Income Includes: Rents
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $8,461
  • Expense Landscape: $2,400
  • Expense Maintenance: $19,000
  • Expense Management: $25,258
  • Expense Trash: $10,296
  • Expenses Other: $0
  • Expenses Utility: $15,868
  • Expenses Total: $203,608
  • Operating Expenses Include: Fee - Property Management, Services - Trash Removal, Utilities - Hot Water, Utilities - Water
  • Gross Rent Multiplier: 16.13
  • Income Annual Gross: $631,447
  • Income Annual Rental: $650,976
  • Income Gross Scheduled: $650,976
  • Income Other: $0
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Rent: $1,295
  • Unit 1 Type: Studio
Unit 2 Information
  • Unit 2 Approx Square Footage: 650
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 1
  • Unit 2 Rent: $2,095
  • Unit 2 Type: Apartment
Unit 3 Information
  • Unit 3 Approx Square Footage: 700
  • Unit 3 Rent: $1,100
  • Unit 3 Type: Store
Unit 4 Information
  • Unit 4 Rent: $0
Unit Type 1
  • Unit Type1 Approx SqFt: 500
Listing Info
Rental Info
  • Lease Type: Net

Property History for 555-569 South 2nd Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 555-569 South 2nd 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
Gardner Elementary School
PublicK to 5

Herbert Hoover Middle School
Public6 to 8

Abraham Lincoln High School
Public9 to 12

Downtown College Preparatory Middle
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.

Similar Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Intero Real Estate Services, Carlos Padilla, DRE #01342889; Intero Real Estate Services, Jim Mcarthur, DRE #01766468

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.