About 555 S 2nd St
Marcus & Millichap is pleased to present 555 S. 2nd Street, a 39-unit apartment community located in the heart of Downtown San Jose's vibrant SoFA District. Offered at just $212,000 per unit, the property provides investors with a rare low basis in one of Silicon Valley's most dynamic urban neighborhoods. The asset features 37 studio units, one one-bedroom unit, and a ~900 SF ground-floor commercial storefront, currently vacant. The investment offers strong in-place returns with a 6.93% CAP rate and 8.8 GRM, along with attractive financing options available, creating an opportunity for immediate cash flow in a prime downtown location near San Jose State University, major tech employers, dining, and entertainment. This opportunity presents a rare opportunity to acquire scale in Downtown San Jose at an attractive basis with strong in-place cash flow and long-term upside.
Features of 555 S 2nd St
| MLS® # | ML82038519 |
|---|---|
| Price | $8,280,000 |
| Square Footage | 20,521 |
| Acres | 0.33 |
| Year Built | 1928 |
| Type | Multi-Residential |
| Sub-Type | Five or More Units |
| Status | Active |
Community Information
| Address | 555 S 2nd St |
|---|---|
| Area | Central San Jose |
| City | SAN JOSE |
| County | Santa Clara |
| State | CA |
| Zip Code | 95112 |
Amenities
| Utilities | Public Utilities |
|---|---|
| Garages | Covered Parking, Off-Street Parking |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Gas |
|---|---|
| Cooling | None |
| Fireplace | No |
Exterior
| Roof | Rolled Composition |
|---|---|
| Foundation | Concrete Perimeter |
Additional Information
| Zoning | DC |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Marcus & Millichap |
|---|---|
| Contact Info | 650-546-1030 |