155 S 11th ST, San Jose, CA 95112 – ML82004258

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Patricia Beattie

patricia@brivio.com +1(415) 286-8292

Listed by Don Sung • Colliers Parrish International, Inc.

$4,000,000

Est. payment - /mo

2 Beds

2 Baths

10,893 SqFt

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UPDATED:

Key Details

Property Type Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 10,893 sqft

Price per Sqft $367

MLS Listing ID ML82004258

Bedrooms 2

Full Baths 2

Year Built 1959

Lot Size 0.360 Acres

Property Sub-Type Five or More Units

Property Description

Unique Oppty to Achieve 5.63% Cap or 7.39% Cap Within 3 to 6-Months. 3-Minute Walk to SJSU. Rare 25-Bedroom (With 29-Bedroom Potential) Student Housing. Fully-Vacant. SJSU Fraternity House With 10,893 SF on 3 Levels + Basement. Rehab 25 BRs, PLUS Add 4 Bedrooms to Achieve Income of 29 BRs of High-Quality Student Rental. Student Leases: August 1 to July 31, Offer Secure, Steady Cashflow w/ Minimal Vacancies. Extremely Supply-Constrained Student Housing Market Near SJSU. Considerable Interior Space w/ Numerous Repositioning Opportunities to Help Investor Achieve Premium Rents. Spacious Second and Third Floor Bedrooms (+/- 145 SF Bedrooms with 9' Ceilings) Offer Panoramic Views of SJ and SJSU Campus. 25-Parking Spaces Rear of Property - Investors May Lease Out or Include Parking in Rent for Additional NOI. Income-Generating Ideas: Onsite Gym, Movie Room, Bike Storage, Pickleball Courts, Solar Panels, Etc. CURRENT CAP Rate (If Rehab Existing Bedrooms, Baths & Kitchen): 5.63%; GRM: 10.4 (Cap Rate Inclusive of $300,000 Property Rehab Budget); Cost/SF: $367/SF. PRO-FORMA CAP Rate (If Rehab Existing Bedrooms, Baths & Kitchen PLUS Add 4 Bedrooms on Ground Floor): 7.39%; GRM: 8.9 (Inclusive of $300,000 Property Rehab + $140,000 Additional Bedrooms Budget); Cost/SF: $367/SF.

Location

State CA

County Santa Clara

Area Central San Jose

Zoning RM

Rooms

Other Rooms Other

Kitchen Dishwasher, Oven Range - Gas, Refrigerator

Interior

Heating Electric, Forced Air

Cooling None

Laundry Coin Operated

Exterior

Parking Features Parking Area

Utilities Available Public Utilities

Roof Type Fiberglass

Building

Foundation Reinforced Concrete

Sewer Sewer - Public

Water Public

Others

Restrictions None

Tax ID 467-25-101

Security Features Other

Special Listing Condition Not Applicable

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Patricia Beattie

+1(415) 286-8292

Broker | License ID: 01405369

Broker License ID: 01405369

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155 S 11th ST San Jose, CA 95112

Patricia Beattie

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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