San Jose CA  home offered at $1,800,000 

Call Lisa DiNoto Group at (909)921-2544 to see this home.

 

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1354 Essex Way
San Jose, California CA 95117
Sold For: $1,780,000
Listing ID: ML81908938
Price/SqFt: $453.16
Status: Closed
Sold Date: 1/27/2023
SqFt: 3,928 Sq Ft
Acres: 0.176 Acres
Year Built: 1967

1354 Essex Way is a four-unit apartment building located in Thriving West San Jose, California. The property has an optimal unit mix with (1) three-bedroom/two-bath unit, (1) two-bedroom/two-bathroom unit, and (2) two-bedroom/one-bath units, with aggregate living space totaling almost 4,000 square feet (per county assessor). The property represents a prime investment opportunity in West San Jose with immediate access to major freeways and major employers in Silicon Valley such Apple, Google, and Facebook. Residents will enjoy walking distance proximity to downtown Campbell and a short drive to Santana Row, Los Gatos, and Downtown San Jose. The offering represents a unique value add opportunity due to low in place rents. Competitive rental comparable in the immediate neighborhood suggests almost 25% loss to lease on the September 2022 rent roll, giving a savvy investor an opportunity to add value without the need for major capital improvements.

Primary Features

County: Santa Clara
Price Reduction Date: 2022-12-02T19:04:05+00:00
Price/SqFt: 453.16
Property Sub Type: Quadruplex
Property Type: Residential Income
Year Built: 1967
Zoning: R3H

Interior

Cooling: yes
Cooling Type: Wall/Window Unit(s)
Garage Spaces: 3
Heating: yes
Heating Type: Wall Furnace
Stories Total: 2

External

Foundation Details: Concrete Perimeter
Lot Size Area: 7643
Lot Size Source: Assessor
Lot Size Square Feet: 7643
Number Of Buildings: 1
Parking Total: 1
Roof: Composition
Sewer: Public Sewer
Water Source: Public

Location

MLS Area Major: 699 - Not Defined

Additional

Accessibility Features: Other
Association: no
Days On Market: 81
List Agent State License: 02024152
List Office State License: 01240999
Lot Size Units: Square Feet
Parcel Number: 30507012
Year Built Source: Assessor

Financial

Cap Rate: 3.88
Gross Scheduled Income: 114960
Insurance Expense: 1400
Maintenance Expense: 2600
Other Expense: 3102
Other Income 1: 2400
Special Listing Conditions: Standard
Tax Annual Amount: 22897
Total Expenses: 41663

Zoning Info


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Listed by: JimmyCastellanos, DRE #02024152 from Marcus & Millichap (650) 391-1700

Contact - Listing ID ML81908938

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Lisa DiNoto

9483 Haven Ave #100
Rancho Cucamonga, CA 91730
Phone: 9099212544

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