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Key Details
Sold Price $4,300,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81962458
Sold Date 06/28/24
HOA Y/N No
Year Built 1969
Annual Tax Amount $53,975
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 699 - Not Defined
Zoning RM
Interior
Cooling None
Fireplace No
Exterior
Carport Spaces 6
Roof Type Composition
Total Parking Spaces 15
Schools
School District San Jose Unified
Others
Tax ID 47228042
Financing Other
Special Listing Condition Standard
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Bought with Erfan Modir • Intero Real Estate Services