324 N 3rd St
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324 N 3rd St
2 Unit Apartment Building $1,595,000 ($797,500/Unit) 2.86% Cap Rate San Jose, CA 95112
Investment Highlights
- Historic Hensley District
- Ideal Owner Occupied or Rental Opportunity
- (2) Large, 3 Bedroom/2 Bath units
Executive Summary
Located in the Hensley Historic Landmark District of San Jose this unique duplex has two very large
three bedroom/two bath units. The property is ideal as either a rental property or an owner-occupied
building. The two units each consist of three bedrooms, two full baths, a living room or dining room, a
laundry room, storage areas, and ample parking. The units are large, with the downstairs unit (324)
approximately 1250 SF in size, and the upstairs unit (326) approximately 1375 SF in size. Please Note: Unit
measurements and sizes are approximates. Buyer should verify unit size and square footage to their own
satisfaction.
The building was constructed in 1910 and although it is located in the Hensley Historic District, the
structure is NOT considered an historic landmark. It is classified as only considered a "Contributing
Structure" by the City of San Jose.
The 3400 SF (as per county records) building was built on a 5,980 SF level lot. The building was
constructed on a concrete perimeter foundation with stucco over wood framing. There is a wood
structure parking garage/storage area in the rear of the property. Due to the size of the lot, the structure
might be eligible for an Additional Dwelling Unit (ADU). Buyer to verify any building plans with the City of
San Jose, Planning Department.
The units are both in good condition. The downstairs unit (324) was recently remodeled. Unit 324 is on a
lease agreement until September 2025, and unit 326 is rented on a month-to-month basis. Both units are
near or at market rate rents.
Full reports and a disclosure package are available. Contact the listing agent for additional unit
photographs, or a private tour of the units.
three bedroom/two bath units. The property is ideal as either a rental property or an owner-occupied
building. The two units each consist of three bedrooms, two full baths, a living room or dining room, a
laundry room, storage areas, and ample parking. The units are large, with the downstairs unit (324)
approximately 1250 SF in size, and the upstairs unit (326) approximately 1375 SF in size. Please Note: Unit
measurements and sizes are approximates. Buyer should verify unit size and square footage to their own
satisfaction.
The building was constructed in 1910 and although it is located in the Hensley Historic District, the
structure is NOT considered an historic landmark. It is classified as only considered a "Contributing
Structure" by the City of San Jose.
The 3400 SF (as per county records) building was built on a 5,980 SF level lot. The building was
constructed on a concrete perimeter foundation with stucco over wood framing. There is a wood
structure parking garage/storage area in the rear of the property. Due to the size of the lot, the structure
might be eligible for an Additional Dwelling Unit (ADU). Buyer to verify any building plans with the City of
San Jose, Planning Department.
The units are both in good condition. The downstairs unit (324) was recently remodeled. Unit 324 is on a
lease agreement until September 2025, and unit 326 is rented on a month-to-month basis. Both units are
near or at market rate rents.
Full reports and a disclosure package are available. Contact the listing agent for additional unit
photographs, or a private tour of the units.
Data Room Click Here to Access
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | $99,999 | $9.99 |
Vacancy Loss | $99,999 | $9.99 |
Effective Gross Income | $99,999 | $9.99 |
Taxes | $99,999 | $9.99 |
Operating Expenses | $99,999 | $9.99 |
Total Expenses | $99,999 | $9.99 |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Actual - 2024) Click Here to Access
Gross Rental Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Other Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Vacancy Loss | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Effective Gross Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Taxes | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Operating Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Total Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Net Operating Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts
Price | $1,595,000 | Property Subtype | Apartment |
Price Per Unit | $797,500 | Apartment Style | Low Rise |
Sale Type | Investment | Building Size | 3,400 SF |
Cap Rate | 2.86% | Average Occupancy | 100% |
Sale Conditions | 1031 Exchange | No. Stories | 2 |
Gross Rent Multiplier | 19.84 | Year Built | 1910 |
No. Units | 2 | Parking Ratio | 1.18/1,000 SF |
Property Type | Multifamily | Opportunity Zone |
Yes
|
Price | $1,595,000 |
Price Per Unit | $797,500 |
Sale Type | Investment |
Cap Rate | 2.86% |
Sale Conditions | 1031 Exchange |
Gross Rent Multiplier | 19.84 |
No. Units | 2 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Size | 3,400 SF |
Average Occupancy | 100% |
No. Stories | 2 |
Year Built | 1910 |
Parking Ratio | 1.18/1,000 SF |
Opportunity Zone |
Yes |
Unit Amenities
- Dishwasher
- Disposal
- Fireplace
- Storage Space
- Washer/Dryer
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Range
- Carpet
- Dining Room
- Family Room
- Porch
- Wet Bar
Site Amenities
- Storage Space
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
3+2 | 1 | $3,200 | 1,250 |
3+2 | 1 | $3,500 | 1,375 |
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Walk Score ®
Very Walkable (86)
Transit Score ®
Excellent Transit (70)
Bike Score ®
Biker's Paradise (95)
PROPERTY TAXES
Parcel Number | 249-46-028 | Total Assessment | $287,081 (2023) |
Land Assessment | $86,116 (2023) | Annual Taxes | ($1) ($0.00/SF) |
Improvements Assessment | $200,965 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
249-46-028
Land Assessment
$86,116 (2023)
Improvements Assessment
$200,965 (2023)
Total Assessment
$287,081 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Silicon Valley Multifamily Group
324 N 3rd St
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