385 E San Fernando ST, San Jose, CA 95112
- $1,570,000
- 5,020
- SqFt
Listed by Michael Shields, 408-356-1900 from SiliconValley MultiFamilyGroup
(If provided) CoList: from
Sold listing courtesy of Steven Wen from KWCU
- Sold Price
- $1,570,000
- List Price
- $1,750,000
- Closing Date
- Apr 07, 2025
- MLS#
- ML81988216
- Status
- SOLD
- Sqft. of Residence
- 5,020
- Lot Size
- 5,850
- Listing Area
- Central San Jose
- Year Built
- 1951
Property Description
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.
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Additional Information
- Acres
- 0.13
- Age
- 73
- Cooling System
- None
- Days On Market
- Unknown
- Floor Covering
- Carpet, Hardwood, Laminate, Vinyl / Linoleum
- Foundation
- Concrete Perimeter
- Garage Parking
- Common Parking Area
- Heating System
- Wall Furnace
- Laundry Facilities
- Washer / Dryer
- Living Area
- 5,020
- Lot Size
- 5,850
- Neighborhood
- Central San Jose
- Other Utilities
- Individual Electric Meters, Individual Gas Meters, Public Utilities
- Roof
- Composition
- Sewer
- Sewer - Public, Sewer Connected, Sewer in Street
- Zoning
- R4
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