About 358 N 7th St
13-unit multifamily in downtown San Jose. Features 12 one-bedroom/one-bath units and 1 studio, with on-site laundry, 12 parking spaces (9 covered), and attractive curb appeal with mature landscaping. Current average rent is $1,339/month vs. ~$2,000 market, creating strong value-add potential. Priced below area averages at $225k/unit with a 4.4% cap rate and 13.96 GRM, pro forma returns reach 7.67% cap and 9.47 GRM. Built in 1961 on a 12,420 SF lot, the 6,536 SF structure offers stable cash flow with upside through renovations, rent increases, and compliance upgrades. Ideal for investors seeking repositioning opportunities, 1031 exchange buyers, or those comfortable with renovation-driven appreciation. Marketing package and disclosures available.
Features of 358 N 7th St
| MLS® # | ML82023937 |
|---|---|
| Price | $2,925,000 |
| Square Footage | 6,536 |
| Square Footage | Assessor |
| Acres | 0.29 |
| Year Built | 1961 |
| Type | Multi-Residential |
| Sub-Type | Mixed Use or Other Multi-Unit |
| Status | Active |
Community Information
| Address | 358 N 7th St |
|---|---|
| Area | Central San Jose |
| City | SAN JOSE |
| County | Santa Clara |
| State | CA |
| Zip Code | 95112 |
Amenities
| Utilities | Individual Electric Meters, Individual Gas Meters |
|---|---|
| Parking Spaces | 12 |
| View | Downtown |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Radiant Heat |
|---|---|
| Cooling | Ceiling Fan, Central Air Conditioning, Room Air Conditioner(s) |
| Fireplace | No |
| # of Stories | 2 |
Exterior
| Lot Description | Grade - Level |
|---|---|
| Roof | Flat/Low Pitch, Tar and Gravel Roof |
| Construction | Wood Construction |
| Foundation | Concrete Perimeter |
Additional Information
| Zoning | RM |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Michael Shields |
|---|---|
| Office | SiliconValley MultiFamilyGroup |
| Contact Info | 408-356-1900 |