231 East San Fernando Street

San Jose, CA 95112

$3,250,000
Last Sold Price
Beds
7,776 Sq. Ft.
$418 / Sq. Ft.
7,776
Sq. Ft.
$418
per Sq. Ft.

Description

First time to the market in decades, the Westwood Portfolio represents an investor the rare opportunity to acquire well maintained assets with strong financial performance directly next to San Jose State University. Six of the properties are situated on one city block, with five of the parcels sharing a property line. 231 East San Fernando Street is a traditional 1960s apartment building with a unit mix of (11) 1 bedroom / 1 bathroom units and (1) 2 bedroom/ 1 bathroom unit. The property lies directly...First time to the market in decades, the Westwood Portfolio represents an investor the rare opportunity to acquire well maintained assets with strong financial performance directly next to San Jose State University. Six of the properties are situated on one city block, with five of the parcels sharing a property line. 231 East San Fernando Street is a traditional 1960s apartment building with a unit mix of (11) 1 bedroom / 1 bathroom units and (1) 2 bedroom/ 1 bathroom unit. The property lies directly across the street from San Jose State University. Can be purchased individually or in combination with 55 S. 6th St., 85 S. 6th St. 97 S. 6th St., 59 S. 5th St., 92 S. 5th St., 84 S. 5th St. The Westwood Portfolio's exceptional Downtown San Jose location provides tenants immediate access to a wide variety of employment options, higher education institutions, and multitude of amenities and recreation options. Investors should benefit from solid fundamentals for years to come.
  1. Listed by Joel Hopman • DRE #01934574 • Brokerage DRE #00586119 • Newmark Cornish & Carey • 415-722-2200
  2. Listed by Steve Zirelli • DRE #01929245 • Brokerage DRE #00586119 • Cornish & Carey Commercial

Property Details for 231 East San Fernando Street

MLS City Name
SAN JOSE
Building Type
Other
Garage Spaces
0
Parking Spaces
4
LISTING UPDATED: 07/24/2024 01:19 PM

Property Details for 231 East San Fernando Street

StatusSold
MLS #ML81962730
Days on Compass50
Taxes$44,795 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family 5+
MLS Type5+ Units / Five or More Units
Year Built1960
Lot Size0.15 AC / 6,534 SF
CountySanta Clara County

Building Information for 231 East San Fernando Street

Stories-Residences-Year Built1960Building Size-Lot Size0.15 AC / 6,534 SF

Property Information for 231 East San Fernando Street

Features
Features
  • Fireplace: No
  • Living SqFt: 7776
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Wall Furnace
  • Meters: Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 6
Garage
  • Garage and Parking: Covered Parking, On Street, Uncovered Parking
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 12
  • Area Text: Central San Jose
  • Restrictions: None
  • Roof: Flat / Low Pitch
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 231
  • Street Name: San Fernando
  • Street Direction Prefix: East
  • Street Suffix: Street
  • Area ID: 9
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 7776
  • Structure SqFt Source: Assessor
  • Age: 64
Development Information
  • Zoning Detail: RM
Location Information
  • Parcel Number: 467-24-008
  • County Name: Santa Clara
  • City Name: SAN JOSE
  • City Postal ID: 58
  • Postal Code: 95112
  • Elementary School District: 482
  • High School District Text: San Jose Unified
Lot Information
  • Foundation: Concrete Perimeter
  • Lot Acres: .15
  • 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: 12
General Information
  • Annual Tax Amount: $44,795
  • Capitalization Rate: 5.51
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Other
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $5,832
  • Expense Landscape: $0
  • Expense Maintenance: $17,392
  • Expense Management: $0
  • Expense Trash: $3,444
  • Expenses Other: $8,731
  • Expenses Utility: $1,298
  • Expenses Total: $81,492
  • Operating Expenses Include: Fee - Property Tax, Insurance
  • Gross Rent Multiplier: 12.26
  • Income Annual Gross: $268,911
  • Income Annual Rental: $277,080
  • Income Gross Scheduled: $277,228
  • Income Other: $148
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 1
  • Unit 1 Rent: $1,775
Unit 2 Information
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $2,150

Property History for 231 East San Fernando Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 231 East San Fernando Street

Taxable ValueLand$456,332Additions$811,674Total$1,268,006
Tax Record2024$20,544 ($1,712 / month)
Home Facts
Baths3Total Finished SqFt7,776 SqFtAbove Grade Finished SqFt7,776 SqFtStories3Lot Size6,599 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningRMCountySANTA CLARAAPN467-24-008Fireplace TypeHas Fireplace

Schools near 231 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.

Similar Homes

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Similar Sold 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 Newmark Cornish & Carey, Joel Hopman, DRE #01934574; Cornish & Carey Commercial, Steve Zirelli, DRE #01929245

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.