358 N 7th ST new Save Request In-Person Tour Request Virtual Tour
San Jose,CA 95112
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 6,536 sqft
Price per Sqft $447
MLS Listing ID ML82023937
HOA Y/N No
Year Built 1961
Annual Tax Amount $40,041
Lot Size 0.285 Acres
Property Sub-Type Mixed Use
Property Description
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.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning RM
Interior
Heating Radiant
Cooling Central Air,Wall/Window Unit(s)
Flooring Carpet,Wood
Fireplace No
Appliance Dishwasher,Microwave
Exterior
Parking Features Carport
Carport Spaces 13
View Y/N Yes
Roof Type Flat,Tar/Gravel
Accessibility Parking
Total Parking Spaces 12
Building
Lot Description Level
Story 2
Foundation Concrete Perimeter
Water Public
Schools
Elementary Schools Grant
School District San Jose Unified
Others
Tax ID 24950022
Special Listing Condition Standard