385 San Fernando Street, San Jose

$1,750,000

Previous Next

0.13

Acres

About 385 San Fernando Street

A unique rental property, directly across the street from San Jose State University. This 5-unit apartment building actually has 6 legal units! There are three, 2BD/1BA units; two, 1BD/1BA units & a permitted, legal, 3BD/2BA+office SRO unit. The building is classified as 5-unit building only because there are 5 on-site parking spaces, but there are six (6) legal, permitted units. All the units are fully rented. The 3-bedroom unit is currently being rented as an SRO unit (Single Room Occupancy). The unit can continue to be operated in this manner or it can be rented out as a fully functional 3BD/2BA+office unit with minor modifications. There is also a laundry room with appliances within this unit. There is large upside potential with this property. The rents are below market, especially due to its proximity to San Jose State University, and although the units are in reasonably good condition, they could be upgraded to generate considerably higher revenue. At present the building generates $11,935 in monthly revenue. But could be generating up to $14,700/month with renovations and strong management. The building is ideally located for both student or workforce rentals. Full marketing package and disclosures available.

Features of 385 San Fernando Street

MLS® # ML81988216
Price $1,750,000
Bathrooms 0.00
Acres 0.13
Year Built 1951
Type Commercial Sale
Status Active Under Contract

Community Information

Address 385 San Fernando Street
Area 699 - Not Defined
City San Jose
County Santa Clara
Zip Code 95112

Amenities

Parking Spaces 5
Is Waterfront No
Has Pool No

Interior

Heating Wall Furnace
Cooling None
Has Basement No
Fireplace No

Exterior

Roof Composition

School Information

District San Jose Unified

Additional Information

Date Listed December 9th, 2024
Days on Market 61
Zoning R4
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentMichael Shields
OfficeSiliconValley MultiFamilyGroup

Listing Map

Request a Showing

Provide a valid email address.
When would you like to view this property?