CAP Rate: 5.16% (Current), 8.34% (Proforma). GRM: 12.59 (Current), 8.73 (Proforma). Wonderful 8-unit apartment building located 2 blocks from Japantown, 1 block from the VTA Light Rail, and walking distance to San Jose State University. Tranquil courtyard with lush landscaping on a quiet street. (2) 2-Bed/1-Bath, (2) 1-Bed/1-Bath, & (4) studio units. Dual pane windows, new electrical main & sub-panels, individual water heaters, carport parking, & a large storage/laundry room in the rear. Opportunity to increase income & add value by upgrading the existing unit interiors upon turnover with air conditioners, electric car chargers, in-unit laundry, & fully renovating the unit interiors with high specification finishes to meet the demand of high-income technology employees by. California SB-1211 allows for the carport and storage laundry room to be converted into up to 8 ADU units based on a pre-feasibility analysis completed by an ADU consultancy (Buyer to verify with the City of San Jose Planning Department). The robust high-tech job growth, shortage of housing units, and value-add opportunity, make 584 N. 2nd Street a great opportunity for both the cash-flow and appreciation-minded investor.
Property Type(s):
Commercial
|
Last Updated
|
7/10/2025
|
Year Built
|
1949
|
|
County
|
Santa Clara
|
Additional Details
| AIR |
Ceiling Fan(s) |
| AIR CONDITIONING |
Yes |
| APPLIANCES |
Refrigerator |
| HEAT |
Forced Air |
| LOT |
9583 sq ft |
| LOT DESCRIPTION |
Rectangular Lot |
| ZONING |
C |
Listing provided by Ismael Benhamida | 408-373-6195Compass
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Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 7/11/25 4:05 AM PDT.
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