650 South 8th Street

San Jose, CA 95112

$5,185,000
Price
Beds
9,769 Sq. Ft.
$531 / Sq. Ft.
9,769
Sq. Ft.
$531
per Sq. Ft.

Description

Priced to sell! 17 Units in Prime San Jose Location! Just Three Blocks from SJSU & a 2 Minute Drive to Downtown San Jose. Incredible In Place Annual Income of $417,528, Positioning the Property at a CURRENT 5.27% CAP Rate! Self Manage and This Property Operates at a Current 5.6% CAP. Excellent Unit mix of (15) 1beds & (2) 2bed Units, 15 of which have been update/remodeled since 2016. Property also Benefits from a New Roof (2019), New Commercial Water Heaters, New Landscaping & Professional Management....Priced to sell! 17 Units in Prime San Jose Location! Just Three Blocks from SJSU & a 2 Minute Drive to Downtown San Jose. Incredible In Place Annual Income of $417,528, Positioning the Property at a CURRENT 5.27% CAP Rate! Self Manage and This Property Operates at a Current 5.6% CAP. Excellent Unit mix of (15) 1beds & (2) 2bed Units, 15 of which have been update/remodeled since 2016. Property also Benefits from a New Roof (2019), New Commercial Water Heaters, New Landscaping & Professional Management. Beautiful Curb Appeal. Must See to Appreciate! Property selling for personal reasons. Quick Close/Strong Terms Encouraged. TOUR SCHEDULE: Wednesday, 3/27, 10:30. SATURDAY TOUR: 3/30 CANCELLED, Rescheduling TBD
  1. Listed by Neel Bhatia • DRE #01464424 • Brokerage DRE #01908304 • Coldwell Banker Realty • 408-828-4024

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 Coldwell Banker Realty, Neel Bhatia, DRE #01464424
Add your commute
LISTING UPDATED: 04/23/2024 03:44 PM

Property Details for 650 South 8th Street

StatusPending ( Do Not Show )
MLS #ML81958747
Days on Compass31
Taxes$57,289 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1958
Lot Size0.36 AC / 15,682 SF
CountySanta Clara County

Location

Listing Courtesy of Coldwell Banker Realty, Neel Bhatia, DRE #01464424
Add your commute

Building Information for 650 South 8th Street

Stories-Residences-Year Built1958Building Size-Lot Size0.36 AC / 15,682 SF

Payment Calculator

$33,071 per month

30 year fixed, 7.25% Interest

Principal and Interest

$28,297

Property Taxes

$4,774

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 650 South 8th Street

Features
Features
  • Fireplace: No
  • Living SqFt: 9769
  • Pool: No
  • Security Features: None
  • Special Features: Parking
Utilities
  • Cooling: None
  • Heating: Wall Furnace
  • Meters: Separate Electric
  • Sewer Septic: Sewer Connected
  • Utilities: Individual Electric Meters
  • Water: Public
Carport and Parking
  • Carport Min: 17
Garage
  • Garage and Parking: Assigned Spaces
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: Tar and Gravel
  • 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: 66
Development Information
  • Ownership Type: Individual
  • 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: Concrete Perimeter
  • Lot Acres: .36
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
Building Information
  • No Of Leased: 17
General Information
  • Annual Tax Amount: $57,289
  • Capitalization Rate: 5.27
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Laundry
  • Vacancy Factor: 2
Income / Expense Details
  • Expense Insurance: $5,000
  • Expense Landscape: $1,440
  • Expense Maintenance: $8,500
  • Expense Management: $7,092
  • Expense Trash: $8,862
  • Expenses Other: $40,402
  • Expenses Utility: $7,488
  • Expenses Total: $136,073
  • Operating Expenses Include: Utilities - Water
  • Gross Rent Multiplier: 12.42
  • Income Annual Gross: $409,177
  • Income Annual Rental: $413,592
  • Income Gross Scheduled: $417,528
  • Income Other: $3,936

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$3,440,609Additions$3,268,907Total$6,709,516
Tax Record2023$85,225 ($7,102 / 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.
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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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 Coldwell Banker Realty, Neel Bhatia, DRE #01464424

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.