357 Willow St
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357 Willow St
10 Unit Apartment Building $2,998,000 ($299,800/Unit) 6.01% Cap Rate San Jose, CA 95110
Investment Highlights
- Investors have the opportunity to acquire an exceptional multifamily asset located in the thriving city of San Jose.
- This upgrade features a new PVC membrane roof, a new 15.3kW LG Solar Electric System, and an upgraded 225A electrical system.
- Buyers have the opportunity to acquire a multifamily asset with high potential cash flow by increasing rents to market premiums.
- 357 Willow St has recently completed the installation of a new LG solar energy system. Total capital expenditure for this project exceed $135k.
- 357 Willow St has undergone recent capital improvements including new exterior paint and installation of double-pane windows.
- 357 Willow St sits near Downtown San Jose, Downtown Willow Glen and is within close proximity to the Target anchored San Jose Market Center.
Executive Summary
357 Willow St is an exceptional 10-unit investment opportunity located in the thriving city of San Jose, California.
Situated on a parcel of land totaling 6,302 square feet, the subject property features a gross building area of approximately 4,500* square feet, offering tenants beautifully designed one-bedroom floor plans. The subject property provides tenants with convenient amenities such as private parking and an on-site laundry facility.
357 Willow St has also recently undergone extensive capital improvements including new exterior paint, installation of dual-pane windows, and various upgrades to meet local fire codes. Furthermore, the subject property has recently completed the installation of a new solar energy system. This upgrade features a new PVC membrane roof, a new 15.3kW LG Solar Electric System with 45 LG 340W solar panels, and an upgraded 225A electrical system. Total capital expenditure for this project exceed $135k.
The subject property sits near Downtown San Jose, Downtown Willow Glen and is within close proximity to the Target anchored San Jose Market Center, all being home to a myriad of dining, shopping, and entertainment options. The subject property also boasts convenient access to the San Jose Mineta International Airport (SJC). SJC is one of the busiest airports in all of Northern California serving millions of passengers every year to both domestic and international destinations.
The investment appeal of this asset is driven by San Jose’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Silicon Valley, 357 Willow St presents an attractive choice for South Bay renters due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.
Situated on a parcel of land totaling 6,302 square feet, the subject property features a gross building area of approximately 4,500* square feet, offering tenants beautifully designed one-bedroom floor plans. The subject property provides tenants with convenient amenities such as private parking and an on-site laundry facility.
357 Willow St has also recently undergone extensive capital improvements including new exterior paint, installation of dual-pane windows, and various upgrades to meet local fire codes. Furthermore, the subject property has recently completed the installation of a new solar energy system. This upgrade features a new PVC membrane roof, a new 15.3kW LG Solar Electric System with 45 LG 340W solar panels, and an upgraded 225A electrical system. Total capital expenditure for this project exceed $135k.
The subject property sits near Downtown San Jose, Downtown Willow Glen and is within close proximity to the Target anchored San Jose Market Center, all being home to a myriad of dining, shopping, and entertainment options. The subject property also boasts convenient access to the San Jose Mineta International Airport (SJC). SJC is one of the busiest airports in all of Northern California serving millions of passengers every year to both domestic and international destinations.
The investment appeal of this asset is driven by San Jose’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Silicon Valley, 357 Willow St presents an attractive choice for South Bay renters due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.
Financial Summary (Actual - 2023) 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 - 2023) 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 | $2,998,000 | Apartment Style | Low Rise |
| Price Per Unit | $299,800 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 6.01% | Building Size | 4,500 SF |
| Gross Rent Multiplier | 11.96 | No. Stories | 2 |
| No. Units | 10 | Year Built | 1950 |
| Property Type | Multifamily | Parking Ratio | 2.22/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,998,000 |
| Price Per Unit | $299,800 |
| Sale Type | Investment |
| Cap Rate | 6.01% |
| Gross Rent Multiplier | 11.96 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,500 SF |
| No. Stories | 2 |
| Year Built | 1950 |
| Parking Ratio | 2.22/1,000 SF |
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Gas Range
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
Walk Score ®
Very Walkable (79)
Bike Score ®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Number | 264-40-067 | Total Assessment | $1,085,599 |
| Land Assessment | $434,237 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $651,362 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
264-40-067
Land Assessment
$434,237
Improvements Assessment
$651,362
Total Assessment
$1,085,599
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | C2 |
| C2 |
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