232 North 3rd Street
232 North 3rd Street
$2,650,000
—
5,512
5,512
$481
Sold 3/17/23
Description
Seller financing available! 10 unit building with numerous capital improvements! There is significant upside potential with this property due to the six vacant units that are ready to be leased at market rent. If sold at market rate rents, the cap rate on this building would be 5.6%, the GRM 12.5 and the price per unit would be approximately $315,000/unit. Financials based on PRO-FORMA numbers. Unit Mix: (4) 2 bed/1 bath units, 3 are occupied and have an average rent of $1,588. Market rent for 2/1...Seller financing available! 10 unit building with numerous capital improvements! There is significant upside potential with this property due to the six vacant units that are ready to be leased at market rent. If sold at market rate rents, the cap rate on this building would be 5.6%, the GRM 12.5 and the price per unit would be approximately $315,000/unit. Financials based on PRO-FORMA numbers. Unit Mix: (4) 2 bed/1 bath units, 3 are occupied and have an average rent of $1,588. Market rent for 2/1 units average $2,045 - $2,200/mo. (4) 1 bed/1 bath units, all of which are vacant and can be rented at market rates, between ($1,750 - $1,950/mo). (2) studio units; One is vacant and one is rented at $1,025/mo. Studio units in this area can be rented for up to $1,650/mo depending on size and condition. 6 tuck-under and 2 uncovered parking spaces. Marketing package available. Located less than 1 mile from San Jose State University!
- Listed by Michael Shields • DRE #01327546 • Brokerage DRE #01327546 • SiliconValley MultiFamilyGroup • 408-356-1900
Property Details for 232 North 3rd Street
MLS City Name
SAN JOSE
Building TypeOther
Garage Spaces0
Parking Spaces2
Cross StreetE. Saint James
Location
LISTING UPDATED: 03/20/2023 01:26 PM
Property Details for 232 North 3rd Street
Status | Sold |
---|---|
MLS # | ML81916039 |
Days on Compass | 7 |
Taxes | $35,916 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | 5+ Units / Five or More Units |
Year Built | 1964 |
Lot Size | 0.16 AC / 6,979 SF |
County | Santa Clara County |
Location
Building Information for 232 North 3rd Street
Stories-Residences-Year Built1964Building Size-Lot Size0.16 AC / 6,979 SF
Payment Calculator
$17,455 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 232 North 3rd Street
Property History for 232 North 3rd 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 232 North 3rd Street
Taxable ValueLand$287,106Additions$708,216Total$995,322
Tax Record2023$16,182 ($1,348 / month)
Home Facts
Total Finished SqFt5,512 SqFtAbove Grade Finished SqFt5,512 SqFtStories3Lot Size6,210 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningCOCountySANTA CLARAAPN467-01-042Fireplace TypeHas Fireplace
Schools near 232 North 3rd 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 | ||
Muwekma Ohlone Middle Public6 to 8 | ||
San Jose 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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