CAP Rate: 5.16% (Current), 8.34% (Proforma). GRM: 12.59 (Current), 8.73 (Proforma). Wonderful 8-unit apartment building located 2 blocks from Japantown, 1 block from the VTA Light Rail, and walking distance to San Jose State University. Tranquil courtyard with lush landscaping on a quiet street. (2) 2-Bed/1-Bath, (2) 1-Bed/1-Bath, & (4) studio units. Dual pane windows, new electrical main & sub-panels, individual water heaters, carport parking, & a large storage/laundry room in the rear. Opportunity to increase income & add value by upgrading the existing unit interiors upon turnover with air conditioners, electric car chargers, in-unit laundry, & fully renovating the unit interiors with high specification finishes to meet the demand of high-income technology employees by. California SB-1211 allows for the carport and storage laundry room to be converted into up to 8 ADU units based on a pre-feasibility analysis completed by an ADU consultancy (Buyer to verify with the City of San Jose Planning Department). The robust high-tech job growth, shortage of housing units, and value-add opportunity, make 584 N. 2nd Street a great opportunity for both the cash-flow and appreciation-minded investor.
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Listing Snapshot
Price
$2,000,000
Days On Site
0 Days
Bedrooms
N/A
Inside Area (SqFt)
4,644 sqft
Total Baths
N/A
Full Baths
N/A
Partial Baths
N/A
Lot Size
0.2186 Acres
Year Built
1949
MLS® Number
ML82014237
Status
Active
Property Tax
$23,351
HOA/Condo/Coop Fees
N/A
Sq Ft Source
N/A
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Recent Activity
11 hours ago
Listing updated with changes from the MLS®
18 hours ago
Listing first seen on site
General Features
Acres
0.2186
Cross Street
Jackson St
Disclosures
Natural Hazard Disclosure
Foundation
Slab
Parking
Common
Parking Spaces
2
Property Sub Type
Multi Family
Sewer
Public Sewer
SqFt Total
4644
Style
Spanish
Water Source
Public
Zoning
C
Interior Features
Appliances
RefrigeratorOvenRangeWasherWasher/Dryer
Cooling
Ceiling Fan(s)
Flooring
TileCarpet
Heating
CentralForced AirNatural Gas
Laundry Features
Laundry Room
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Exterior Features
Construction Details
Frame
Pool Features
None
Roof
CompositionShingle
Community Features
Association Amenities
None
School District
San Jose Unified
Schools
School District
San Jose Unified
Elementary School
Grant Elementary
Middle School
Muwekma Ohlone Middle School
High School
San Jose High Academy
Listed by of Ismael Benhamida of Compass 4083736195
The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the MLSListings™ MLS system. Real estate listings held by brokerage firms other than eXp Realty are marked with the Internet Data Exchange icon and detailed information about them includes the names of the listing brokers and listing agents. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2025, MLS Listings, Inc..
Last checked: 2025-07-11 01:17 PM UTC
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