298 Madison Street

Santa Clara, CA 95050

$2,580,000
Last Sold Price
Beds
3,812 Sq. Ft.
$677 / Sq. Ft.
3,812
Sq. Ft.
$677
per Sq. Ft.

Description

Magnify is pleased to present the opportunity to acquire 298 Madison Street, a prime 6-unit building located in the highly desirable city of Santa Clara. Constructed in 1958, the property consists of (1) 3BD/1BA, (1) 2BD/1BA, and (4) 1BD/1BA amounting to 3,312 building square feet. Additional square footage was also converted to livable space in two units and this is not included in county records. The property has nice curb appeal and sits on a large 8,777 square foot lot with strong in-place rents....Magnify is pleased to present the opportunity to acquire 298 Madison Street, a prime 6-unit building located in the highly desirable city of Santa Clara. Constructed in 1958, the property consists of (1) 3BD/1BA, (1) 2BD/1BA, and (4) 1BD/1BA amounting to 3,312 building square feet. Additional square footage was also converted to livable space in two units and this is not included in county records. The property has nice curb appeal and sits on a large 8,777 square foot lot with strong in-place rents. There is an opportunity to create a 7th unit by converting the large garage into an ADU with a private backyard. The building has dual-pane windows, coin operated laundry, and two units include private patios. The property is less than 1 mile from Santa Clara University and just a short drive from other top attractions including Santana Row and the Pruneyard. It is also located near top tech employers in the Silicon Valley including NVIDIA, AMD, and Applied Materials.
  1. Listed by Eric Katz • DRE #01900078 • Brokerage DRE #01527043 • Katz Inc • 408-438-0969

Property Details for 298 Madison Street

MLS City Name
SANTA CLARA
Building Type
Other
Garage Spaces
2
Parking Spaces
6

Location

Listing Courtesy of Katz Inc, Eric Katz, DRE #01900078

Sold By Katz Inc, Amit Urban, DRE #01998926

Add your commute
LISTING UPDATED: 09/10/2022 08:01 AM

Property Details for 298 Madison Street

StatusSold
MLS #ML81883193
Days on Compass123
Taxes$31,303 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1958
Lot Size0.20 AC / 8,777 SF
CountySanta Clara County

Location

Listing Courtesy of Katz Inc, Eric Katz, DRE #01900078

Sold By Katz Inc, Amit Urban, DRE #01998926

Add your commute

Building Information for 298 Madison Street

Stories-Residences-Year Built1958Building Size-Lot Size0.20 AC / 8,777 SF

Payment Calculator

$16,689 per month

30 year fixed, 7.25% Interest

Principal and Interest

$14,080

Property Taxes

$2,609

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 298 Madison Street

Features
Features
  • Fireplace: No
  • Laundry: Coin Operated
  • Living SqFt: 3812
  • Pool: No
  • Security Features: None
  • Special Features: Parking
Utilities
  • Cooling: Ceiling Fan
  • 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: 0
Garage
  • Garage and Parking: Detached Garage
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 6
  • Area Text: Santa Clara
  • Restrictions: None
  • Roof: Composition, Shingle
  • Stories: 0.0
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 298
  • Street Name: Madison
  • Street Suffix: Street
  • Area ID: 8
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 3812
  • Structure SqFt Source: Other
  • Age: 64
Development Information
  • Zoning Detail: R3
Location Information
  • Parcel Number: 269-41-091
  • County Name: Santa Clara
  • City Name: SANTA CLARA
  • City Postal ID: 63
  • Postal Code: 95050
  • Elementary School District: 483
  • High School District Text: Santa Clara Unified
Lot Information
  • Foundation: Concrete Perimeter, Post and Pier
  • Lot Acres: .20
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Other
Multi Family Information
General Information
  • Annual Tax Amount: $31,303
  • Capitalization Rate: 4.86
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Laundry, Rents
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $2,089
  • Expense Landscape: $1,200
  • Expense Maintenance: $1,000
  • Expense Management: $0
  • Expense Trash: $0
  • Expenses Other: $0
  • Expenses Utility: $5,195
  • Expenses Total: $40,787
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance - Repair, Services - Gardener, Utilities
  • Gross Rent Multiplier: 15.08
  • Income Annual Gross: $167,209
  • Income Annual Rental: $171,660
  • Income Gross Scheduled: $172,380
  • Income Other: $720
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 1
  • Unit 1 Rent: $2,078
Unit 2 Information
  • Unit 2 Approx Square Footage: 600
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $2,670
Unit 3 Information
  • Unit 3 Approx Square Footage: 712
  • Unit 3 Full Bathrooms: 1
  • Unit 3 Number of Bedrooms: 3
  • Unit 3 Rent: $2,708
Unit 4 Information
  • Unit 4 Rent: $0
Unit Type 1
  • Unit Type1 Approx SqFt: 500
  • Unit Type1 Units Total: 4
Unit Type 2
  • Unit Type2 Units Total: 1
Unit Type 3
  • Unit Type3 Units Total: 1
Listing Info
Rental Info
  • Lease Type: Net

Property History for 298 Madison 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 298 Madison Street

Taxable ValueLand$1,800,000Additions$780,000Total$2,580,000
Tax Record2023$30,487 ($2,541 / month)
Home Facts
Total Finished SqFt3,592 SqFtAbove Grade Finished SqFt3,592 SqFtStories2Lot Size8,778 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningR3CountySANTA CLARAAPN269-41-091Fireplace TypeHas Fireplace

Schools near 298 Madison Street

This home is within Santa Clara Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Westwood Elementary School
PublicK to 5

Buchser Middle School
Public6 to 8

Santa Clara High School
Public9 to 12

Washington Elementary School
PublicK to 5

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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Listing Courtesy of Katz Inc, Eric Katz, DRE #01900078

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.