1360 Palm Street

San Jose, CA 95110

$2,800,000
Price
Beds
5,540 Sq. Ft.
$505 / Sq. Ft.
5,540
Sq. Ft.
$505
per Sq. Ft.

Description

Magnify Real Estate is pleased to exclusively present the opportunity to acquire 1360 Palm St, a ten (10) unit value-add investment located in San Jose. Constructed in 1951, the property comprises 10 spacious one-bedroom/one-bath units, totaling 5,540 square feet of building space on an expansive lot of 11,832 square feet. It features dual pane windows, a common area courtyard, carports, and select units offering ensuite washer/dryers or hook-ups. This investment has the potential to add washer &...Magnify Real Estate is pleased to exclusively present the opportunity to acquire 1360 Palm St, a ten (10) unit value-add investment located in San Jose. Constructed in 1951, the property comprises 10 spacious one-bedroom/one-bath units, totaling 5,540 square feet of building space on an expansive lot of 11,832 square feet. It features dual pane windows, a common area courtyard, carports, and select units offering ensuite washer/dryers or hook-ups. This investment has the potential to add washer & dryers in each unit, along with additional ADU potential. The property is a few miles from San Jose State University, SoFA District, and Downtown San Jose. It is conveniently accessible to Highways 87 and 280. Finally, its close proximity to major tech employers such as Adobe HQ, eBay, and Zoom makes it an attractive location for potential tenants seeking employment opportunities.
  1. Listed by Amit Urban • DRE #01998926 • Brokerage DRE #02214785 • Magnify Real Estate • 650-282-0477

Property Details for 1360 Palm Street

MLS City Name
SAN JOSE
Building Type
Other
Garage Spaces
0
Parking Spaces
3

Location

Listing Courtesy of Magnify Real Estate, Amit Urban, DRE #01998926
Add your commute
LISTING UPDATED: 03/29/2024 09:50 AM

Property Details for 1360 Palm Street

StatusActive
MLS #ML81959360
Days on Compass31
Taxes$37,001 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1951
Lot Size0.27 AC / 11,761 SF
CountySanta Clara County

Location

Listing Courtesy of Magnify Real Estate, Amit Urban, DRE #01998926
Add your commute

Building Information for 1360 Palm Street

Stories-Residences-Year Built1951Building Size-Lot Size0.27 AC / 11,761 SF

Payment Calculator

$18,364 per month

30 year fixed, 7.25% Interest

Principal and Interest

$15,281

Property Taxes

$3,083

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1360 Palm Street

Features
Features
  • Fireplace: No
  • Living SqFt: 5540
  • Pool: No
  • Security Features: Other
  • Special Features: Other
Utilities
  • Cooling: Other
  • Heating: Wall Furnace
  • Meters: Master Water, Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 7
Garage
  • Garage and Parking: Assigned Spaces, Carport, Covered Parking, Off-Street Parking
Property Details
Homeowners Association
  • HOA Amenities: Other
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 10
  • Area Text: Central San Jose
  • Restrictions: Other
  • Roof: Other
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 1360
  • Street Name: Palm
  • Street Suffix: Street
  • Area ID: 9
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 5540
  • Structure SqFt Source: Assessor
  • Age: 73
Development Information
  • Zoning Detail: C2H
Location Information
  • Parcel Number: 434-12-090
  • County Name: Santa Clara
  • City Name: SAN JOSE
  • City Postal ID: 58
  • Postal Code: 95110
  • Elementary School District: 482
  • High School District Text: San Jose Unified
Lot Information
  • Foundation: Crawl Space
  • Lot Acres: .27
  • 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: No
Multi Family Information
Building Information
  • No Of Leased: 10
General Information
  • Annual Tax Amount: $37,001
  • Capitalization Rate: 5.30
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Rents
  • Vacancy Factor: 0
Income / Expense Details
  • Expense Insurance: $5,540
  • Expense Landscape: $1,800
  • Expense Maintenance: $5,000
  • Expense Management: $10,931
  • Expense Trash: $0
  • Expenses Other: $0
  • Expenses Utility: $10,000
  • Expenses Total: $70,272
  • Operating Expenses Include: Fee - Property Tax, Maintenance, Services - Gardener, Utilities - Water
  • Gross Rent Multiplier: 12.81
  • Income Annual Gross: $218,612
  • Income Annual Rental: $218,612
  • Income Gross Scheduled: $218,612
  • Income Other: $0
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 1
Unit Type 1
  • Unit Type1 Approx SqFt: 554

Property History for 1360 Palm 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 1360 Palm Street

Taxable ValueLand$615,709Additions$652,653Total$1,268,362
Tax Record2023$19,340 ($1,612 / month)
Home Facts
Total Finished SqFt5,540 SqFtAbove Grade Finished SqFt5,540 SqFtStories2Lot Size11,832 SqFtStyleMulti-Family Res (5+ Units)Year Built1951Year Renovated1953ZoningC2HCountySANTA CLARAAPN434-12-090Fireplace TypeHas Fireplace

Schools near 1360 Palm 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
Ernesto Galarza Elementary School
PublicK to 5

Willow Glen Middle School
Public6 to 8

Willow Glen 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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1360 Palm Street is a multi-family home for sale in San Jose, CA 95110. This property was listed for sale on March 29, 2024 by Magnify Real Estate, it's currently listed at $2,800,000. It has been on the market for a total of 31 days and was last sold on November 21, 2005. This listing's school district is San Jose Unified School District. Nearby schools include Ernesto Galarza Elementary School, Willow Glen Middle School and Willow Glen High School. 1360 Palm Street is a 0-bed, 0-bath, 5,540 sqft multi-family home built in 1951.

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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Magnify Real Estate, Amit Urban, DRE #01998926

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.