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381 N 13th St, San Jose, CA 95112

8 Bed Multi-Family Home For Sale

381 N 13th St, San Jose, CA 95112 House For Sale - MLS #ML81654991
$1,088,890
8
Multi-Family
4 Family
This listing is courtesy of Ismael Benhamida from Marcus & Millichap.

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Property Description for 381 N 13th St, San Jose, CA 95112

Offer Due Date: 5:00 PM ON TUESDAY JUNE 20, 2017. Highest Cap Rate in Santa Clara County. Cap Rate: 5.46% Current, 8.37% Proforma. GRM: 12.66 Current, 9.47 Proforma. 381 North 13th Street is a fourplex located in a desirable neighborhood in San Jose, California. Built in 1910, the subject property is situated on a 5,779 square foot lot, has a gross livable area of 3,142 square feet, and has four large two-bedroom/one-bathroom units. The rents for two units are significantly below market and are eligible for five percent annual rent increases. The two vacant units are painted with hardwood floors, updated cabinets, and granite counters and present the opportunity to achieve top market rents. Additionally, the 1,333 square foot partially finished basement can be rented out as storage for additional income. With two vacant units this property provides the investor the opportunity to achieve tremendous rental income and create significant value.

Interior Details

3,142 sq. ft.
$346.56/sq. ft.
Sewer - Public
Individual Water Meter
High Ceiling

Exterior Details

0.13 acres
5,780 sq. ft.
Assigned Spaces; Off-Street Parking; Room For Oversized Vehicle; Uncovered Parking
Wood Frame
Concrete Perimeter And Slab

Other Details

ML81654991
1910
$7,166
Santa Clara

Units Description

Unit #1
Living Area: 764 sq. ft.      Bedrooms: 2      Rent: $1,230     

Unit #2
Living Area: 719 sq. ft.      Bedrooms: 2      Rent: $2,395     

Unit #3
Living Area: 701 sq. ft.      Bedrooms: 2      Rent: $1,146     

Unit #4
Living Area: 703 sq. ft.      Bedrooms: 2      Rent: $2,395     

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Monthly Mortgage Payments

$4,946
$6,889

Town Description

Prior to European settlement, the area was inhabited by several groups of Ohlone Native Americans[8] The first lasting European presence began with a series of Franciscan missions established from...

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