650 South 8th Street

San Jose, CA 95112

$5,600,000
Price
Beds
9,769 Sq. Ft.
$573 / Sq. Ft.
9,769
Sq. Ft.
$573
per Sq. Ft.

Description

LOCATED IN THE OPPORTUNITY ZONE. Attractive, well-cared for 17-unit apartment complex with (15) one bedroom/one bathroom units and (2) two bedroom/one bathroom units situated on a 9,769 sf lot and located just 3 blocks from San Jose State University. Capital improvements include dual pane windows (2016), new roof (2019), new commercial water heaters (2019), new landscaping, courtyard pavers and exterior paint (2019), and new kitchen counter tops, cabinets, and appliances in 15 of the 17 units (2016)....LOCATED IN THE OPPORTUNITY ZONE. Attractive, well-cared for 17-unit apartment complex with (15) one bedroom/one bathroom units and (2) two bedroom/one bathroom units situated on a 9,769 sf lot and located just 3 blocks from San Jose State University. Capital improvements include dual pane windows (2016), new roof (2019), new commercial water heaters (2019), new landscaping, courtyard pavers and exterior paint (2019), and new kitchen counter tops, cabinets, and appliances in 15 of the 17 units (2016). Lots of upside potential. Strong rental market with students returning to on site classes and the development of Google's planned campus expansion nearby.

Listing Agents

  1. Nate Gustavson

    Nate Gustavson

    Listing Agent

    Compass

    DRE #01898316

  2. Cameron Foster

    Cameron Foster

    Alternative Listing Agent

    Compass

    DRE #00972394

Property Details for 650 South 8th Street

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

Location

Listing Courtesy of Compass, Nate Gustavson, DRE #01898316; Compass, Cameron Foster, DRE #00972394
Add your commute
LISTING UPDATED: 10/26/2022 07:51 PM

Property Details for 650 South 8th Street

StatusActive
MLS #ML81911544
Days on Compass31
Taxes$65,392 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1958
Lot Size0.36 AC / 15,637 SF
CountySanta Clara County

Location

Listing Courtesy of Compass, Nate Gustavson, DRE #01898316; Compass, Cameron Foster, DRE #00972394
Add your commute

Building Information for 650 South 8th Street

Stories-Residences-Year Built1958Building Size-Lot Size0.36 AC / 15,637 SF

Payment Calculator

$35,496 per month

30 year fixed, 7.08% Interest

Principal and Interest

$30,047

Property Taxes

$5,449

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 650 South 8th Street

Features
    Features
  • Living SqFt: 9769
  • Pool: No
  • Security Features: None
  • Special Features: None
    Utilities
  • Cooling: None
  • Heating: Wall Furnace
  • Meters: Master Water, Separate Common Area, Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Water: Public
    Carport and Parking
  • Carport Min: 17
    Garage
  • Garage and Parking: Carport
Property Details
    Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
    Property Details
  • Min Num Of Units in Complex: 17
  • Area Text: Central San Jose
  • Restrictions: None
  • Roof: Other
  • Stories: 0.0
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 650
  • Street Name: 8th
  • Street Direction Prefix: South
  • Street Suffix: Street
  • Area ID: 9
Lot / Property Details
    Building Information
  • Number of Buildings: 1
  • Structure SqFt: 9769
  • Structure SqFt Source: Assessor
  • Age: 64
    Development Information
  • Zoning Detail: RM
    Location Information
  • Parcel Number: 472-24-006
  • 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: Other
  • Lot Acres: .36
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
    General Information
  • Annual Tax Amount: $65,392
  • Capitalization Rate: 4.45
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Laundry, Rents, Other
  • Vacancy Factor: 2
    Income / Expense Details
  • Expense Insurance: $5,000
  • Expense Landscape: $2,992
  • Expense Maintenance: $9,350
  • Expense Management: $18,020
  • Expense Trash: $4,931
  • Expenses Other: $15,770
  • Expenses Utility: $21,698
  • Expenses Total: $143,153
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Maintenance, Services - Sewer, Services - Trash Removal, Utilities
  • Gross Rent Multiplier: 13.98
  • Income Annual Gross: $392,443
  • Income Annual Rental: $393,696
  • Income Gross Scheduled: $400,452
  • Income Other: $6,756
    Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 1
  • Unit 1 Rent: $0
  • Unit 1 Type: Apartment
    Unit 2 Information
  • Unit 2 Approx Square Footage: 700
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $0
  • Unit 2 Type: Apartment
    Unit 3 Information
  • Unit 3 Rent: $0
    Unit 4 Information
  • Unit 4 Rent: $0
    Unit Type 1
  • Unit Type1 Approx SqFt: 500
  • Unit Type1 Units Total: 15
    Unit Type 2
  • Unit Type2 Units Total: 2
Listing Info
    Rental Info
  • Lease Type: Net

Property History for 650 South 8th 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 650 South 8th Street

Taxable ValueLand$3,373,147Additions$3,204,811Total$6,577,958
Tax Record2022$84,579 ($7,048 / month)
Home Facts
Total Finished SqFt9,769 SqFtAbove Grade Finished SqFt9,769 SqFtStories2Lot Size15,732 SqFtStyleMulti-Family Res (5+ Units)Year Built1958ZoningRMCountySANTA CLARAAPN472-24-006Fireplace TypeHas Fireplace

Schools near 650 South 8th Street

This home is within San Jose Unified School District.
RatingSchoolTypeGradesDistance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 5 to 8
RatingSchoolDistance
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.

Similar Homes

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Similar Sold Homes

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650 South 8th Street is a multi-family home for sale in San Jose, CA 95112. This property was listed for sale on October 26, 2022 by Compass at $5,600,000. It has been on the market for a total of 31 days and was last sold on April 26, 2018. 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. 650 South 8th Street is a 0-bed, 0-bath, 9,769 sqft multi-family home built in 1958.

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 Compass, Nate Gustavson, DRE #01898316; Compass, Cameron Foster, DRE #00972394

Based on information from the San Francisco Association of Realtors as of 10/26/2022 12:00 AM, the MLSListings MLS as of 10/26/2022 12:00 AM, or the BAREIS MLS as of 10/26/2022 12:00 AM. MLS data is deemed reliable but is not guaranteed accurate by the MLS. Information is provided for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Information being provided is for consumers’ personal, non-commercial use and may not be used for any purposes other than to identify prospective properties consumers may be interested in purchasing. Data last updated on 10/26/2022 07:51 PM