555-569 S 2nd St San Jose, CA 95112

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Metro Walk Apartments: 39 Units + Redevelopment Opportunity

Price: $11,000,000
Address: 555-569 S 2nd St
City: San Jose
State: CA
Zip: 95112
Broker Name: Intero, A Berkshire Hathaway Affiliate
Fee: No
Seller Type: Agent/Broker
Square Feet: 20521
Provided By: TourFactory

Description:

Metro Walk offers an opportunity to acquire an excellent income property with a 38-unit apartment complex plus 1 retail store in a dynamic rental location that can potentially be redeveloped in the future. Exterior renovation includes dual pane windows, exterior paint, and lights. 15 units extensively renovated with new kitchen cabinets and countertops, new carpet, baseboards, and two-tone paint. Strong in place rents with upside potential. Stabilized GRM/Cap Rate: 14.55 / 4.73%. New laundry room in process for additional income. Outstanding rental location blocks from future Google campus, San Jose State, Diridon Station, San Jose International Airport and future BART station. Strategically located in a designated Opportunity Zone in the vibrant SoFA district of Downtown San Jose.

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