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Map
$2,848,584*
●
Commercial -
Off Market
232 N 3rd ST
SAN JOSE, CA 95112
Studio
0 Bath
5512 Sqft
$2,475,000 - $3,025,000
Reference Base Price*
3.58%
Since Feb 1, 2023
CA-San Francisco
Primary Model
About This Property
SELLER FINANCING AVAILABLE! 10 unit building with numerous capital
improvements! There is significant upside potential with this
property due to the six vacant units that are ready to be leased at
market rent. If sold at market rate rents, the cap rate on this
building would be 5.6%, the GRM 12.5 and the price per unit would
be approximately $315,000/unit. Financials based on PRO-FORMA
numbers. Unit Mix: (4) 2 bed/1 bath units, 3 are occupied and have
an average rent of $1,588. Market rent for 2/1 units average $2,045
- $2,200/mo. (4) 1 bed/1 bath units, all of which are vacant and
can be rented at market rates, between ($1,750 - $1,950/mo). (2)
studio units; One is vacant and one is rented at $1,025/mo. Studio
units in this area can be rented for up to $1,650/mo
depending on size and condition. 6 tuck-under and 2 uncovered
parking spaces. Marketing package available. Located less than 1
mile from San Jose State University!
The manager has listed the unit size as 5512 square feet.
The manager has listed the unit size as 5512 square feet.
Unit Size
5,512Ft²
Days on Market
-
Land Size
0.16 acres
Price per sqft
$499
Property Type
Commercial
Property Taxes
-
HOA Dues
-
Year Built
1964
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Mar 17, 2023 | Sold | $2,650,000 | |
Sold | |||
Jan 2, 2023 | No longer available | - | |
No longer available | |||
Oct 27, 2022 | Price Decreased |
$2,750,000
↓ $100K
(3.5%)
|
|
Price Decreased | |||
Sep 21, 2022 | Listed | $2,850,000 | |
Listed |
Property Highlights
Parking Available
Garage
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
09/21/2022
|
|
Loft
|
-
|
5512 ft²
|
$2,850,000
Loft
-
5512 ft²
|
-
-
|
-
|
Michael Shields
SiliconValley MultiFamilyGroup
|
Building Info
232 North 3rd Street
232 North 3rd Street, San Jose, CA 95112
- 1 Unit for Sale