544-550 South Sixth Street

San Jose, CA 95112

$4,250,000
Price
Beds
7,970 Sq. Ft.
$533 / Sq. Ft.
7,970
Sq. Ft.
$533
per Sq. Ft.

Description

First time ever available on market, 544-550 S 6th Street represents the rare opportunity to acquire an exceptional 10-unit multifamily asset on one of the best blocks of Downtown San Jose. This asset was originally built in 1969 and is situated on two contiguous parcels totaling 11,868 square feet. The property features Ten (10) beautifully designed two-bedroom/one-bathroom floor plans that are approximately 800 square feet each. This asset has recently undergone extensive renovations to all ten...First time ever available on market, 544-550 S 6th Street represents the rare opportunity to acquire an exceptional 10-unit multifamily asset on one of the best blocks of Downtown San Jose. This asset was originally built in 1969 and is situated on two contiguous parcels totaling 11,868 square feet. The property features Ten (10) beautifully designed two-bedroom/one-bathroom floor plans that are approximately 800 square feet each. This asset has recently undergone extensive renovations to all ten units, including new stainless steel appliances, LVT flooring, quartz countertops, LED lighting, and washer & dryers in Nine (9) units. The exterior has also gone through major upgrades including new stucco, wood siding, stacked stone, and all new dual pane windows throughout. There is an attractive $2,070,000 fixed assumable loan at 3.80% interest through June 2030, that re-adjusts to 5.00% interest through June 2040. The note calls for interest only payments through June 2040, allowing for maximum cash flow during the Sixteen (16) years remaining on the existing note. The loan must be assumed and subject to lender approval.
  1. Listed by Eymon Binesh • DRE #02060059 • Brokerage DRE #01240999 • Marcus & Millichap • 650-546-1030
  2. Listed by Robert Johnston • DRE #01853816 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 544-550 South Sixth Street

MLS City Name
SAN JOSE
Building Type
Other
Garage Spaces
0
Parking Spaces
15

Location

Listing Courtesy of Marcus & Millichap, Eymon Binesh, DRE #02060059; Marcus & Millichap, Robert Johnston, DRE #01853816
Add your commute
LISTING UPDATED: 04/26/2024 02:14 PM

Property Details for 544-550 South Sixth Street

StatusActive
MLS #ML81962458
Days on Compass11
Taxes$53,975 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1969
Lot Size0.27 AC / 11,868 SF
CountySanta Clara County

Location

Listing Courtesy of Marcus & Millichap, Eymon Binesh, DRE #02060059; Marcus & Millichap, Robert Johnston, DRE #01853816
Add your commute

Building Information for 544-550 South Sixth Street

Stories-Residences-Year Built1969Building Size-Lot Size0.27 AC / 11,868 SF

Payment Calculator

$27,692 per month

30 year fixed, 7.25% Interest

Principal and Interest

$23,194

Property Taxes

$4,498

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 544-550 South Sixth Street

Features
Features
  • Fireplace: No
  • Laundry: Washer / Dryer
  • Living SqFt: 7970
  • Pool: No
  • Security Features: None
  • Special Features: Parking
Utilities
  • Cooling: None
  • Heating: Gas
  • Meters: Master Water, Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Water: Water On Site
Carport and Parking
  • Carport Min: 6
Garage
  • Garage and Parking: Assigned Spaces, Covered Parking, Off-Street Parking
Property Details
Homeowners Association
  • HOA Amenities: Additional Storage, Common Utility Room
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 10
  • Area Text: Central San Jose
  • Restrictions: None
  • Roof: Composition
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 544-550
  • Street Name: 6th
  • Street Direction Prefix: South
  • Street Suffix: Street
  • Area ID: 9
Lot / Property Details
Building Information
  • Number of Buildings: 2
  • Structure SqFt: 7970
  • Structure SqFt Source: Other
  • Age: 55
Development Information
  • Zoning Detail: RM
Location Information
  • City Limits: Yes
  • Incorporated: No
  • Parcel Number: 472-28-042
  • 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: .27
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Other
Mobile / Manufactured Information
Other Information
  • Dual Variable: Yes
Multi Family Information
Building Information
  • No Of Leased: 9
General Information
  • Annual Tax Amount: $53,975
  • Capitalization Rate: 5.09
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Laundry, Parking
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $4,010
  • Expense Landscape: $1,800
  • Expense Maintenance: $5,000
  • Expense Management: $15,367
  • Expense Trash: $4,586
  • Expenses Other: $0
  • Expenses Utility: $6,519
  • Expenses Total: $91,257
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Maintenance, Utilities - Electric, Utilities - Gas, Utilities - Heat, Utilities - Water, Vacancy Factor
  • Gross Rent Multiplier: 13.40
  • Income Annual Gross: $307,558
  • Income Annual Rental: $316,230
  • Income Gross Scheduled: $317,070
  • Income Other: $840
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 2
  • Unit 1 Rent: $2,315
Unit Type 1
  • Unit Type1 Approx SqFt: 800

Property History for 544-550 South Sixth Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 544-550 South Sixth 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
Lowell 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.

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544-550 South Sixth Street is a multi-family home for sale in San Jose, CA 95112. This property was listed for sale on April 22, 2024 by Marcus & Millichap, it's currently listed at $4,250,000. This listing's school district is San Jose Unified School District. Nearby schools include Lowell Elementary School, Herbert Hoover Middle School and Abraham Lincoln High School. 544-550 South Sixth Street is a 0-bed, 0-bath, 7,970 sqft multi-family home built in 1969.

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 Marcus & Millichap, Eymon Binesh, DRE #02060059; Marcus & Millichap, Robert Johnston, DRE #01853816

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.