$4,300,000
$4,250,000
1.2%For more information regarding the value of a property, please contact us for a free consultation.
2 Beds
1 Bath
7,970 SqFt
SOLD DATE : 06/28/2024
Key Details
Sold Price $4,300,000
Property Type Commercial
Sub Type Five or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 7,970 sqft
Price per Sqft $539
MLS Listing ID ML81962458
Sold Date 06/28/24
Bedrooms 2
Full Baths 1
Year Built 1969
Lot Size 0.272 Acres
Property Description
First time ever available on market, 544-550 S 6th Street represents the rare opportunity to acquire an exceptional 10-unit multifamily asset on one of the best blocks of Downtown San Jose. This asset was originally built in 1969 and is situated on two contiguous parcels totaling 11,868 square feet. The property features Ten (10) beautifully designed two-bedroom/one-bathroom floor plans that are approximately 800 square feet each. This asset has recently undergone extensive renovations to all ten units, including new stainless steel appliances, LVT flooring, quartz countertops, LED lighting, and washer & dryers in Nine (9) units. The exterior has also gone through major upgrades including new stucco, wood siding, stacked stone, and all new dual pane windows throughout. There is an attractive $2,070,000 fixed assumable loan at 3.80% interest through June 2030, that re-adjusts to 5.00% interest through June 2040. The note calls for interest only payments through June 2040, allowing for maximum cash flow during the Sixteen (16) years remaining on the existing note. The loan must be assumed and subject to lender approval.
Location
State CA
County Santa Clara
Area Central San Jose
Zoning RM
Interior
Heating Gas
Cooling None
Laundry Washer / Dryer
Exterior
Garage Assigned Spaces, Covered Parking, Off-Street Parking
Community Features Additional Storage, Common Utility Room
Utilities Available Individual Electric Meters, Individual Gas Meters, Public Utilities
Roof Type Composition
Building
Foundation Concrete Perimeter
Sewer Sewer - Public
Water Water On Site
Others
Restrictions None
Tax ID 472-28-042
Security Features None
Special Listing Condition Not Applicable
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
© 2024 MLSListings Inc. All rights reserved.
Bought with Erfan Modir • Intero Real Estate Services