584 N 2nd ST, San Jose, CA 95112
- $1,900,000
- 4,644
- SqFt
Listed by Ismael Benhamida, (408) 373-6195 from Compass
(If provided) CoList: from
Sold listing courtesy of Ismael Benhamida from PACU
- Sold Price
- $1,900,000
- List Price
- $2,000,000
- Closing Date
- Dec 02, 2025
- MLS#
- ML82014237
- Status
- SOLD
- Property Type
- Commercial
- Class
- Five or More Units
- Sqft. of Residence
- 4,644
- City
- San Jose
- Lot Size
- 9,522
- Zip
- 95112
- Sqft. of Residence
- 4,644
- Listing Area
- Central San Jose
- Acres
- 0.22
- Neighborhood
- Central San Jose, Japantown, Downtown San Jose
- Year Built
- 1949
- Age
- 76
Property Description
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.
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Additional Information
- Cooling System
- Ceiling Fan
- Floor Covering
- Carpet, Tile
- Foundation
- Concrete Slab
- Garage Parking
- Common Parking Area
- Carport
- 6
- Heating System
- Central Forced Air - Gas
- Laundry Facilities
- Washer / Dryer
- Living Area
- 4,644
- Lot Description
- Regular
- Lot Size
- 9,522
- Neighborhood
- Central San Jose
- Other Rooms
- Laundry Room, Storage
- Other Utilities
- Individual Electric Meters, Individual Gas Meters, Public Utilities
- Roof
- Composition, Shingle
- Sewer
- Sewer - Public
- Style
- Spanish
- Water
- Public
- Zoning
- C
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