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488 E Saint John St - SHOVEL-READY DEVELOPMENT OPPORTUNITY

0.37 Acres of Residential Land in San Jose, CA 95112

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Investment Highlights

Prime San Jose location adjacent to Downtown, San Jose State University, public transportation, and a myriad of amenities
The site is located adjacent to Downtown and only 1.5 blocks away from the SJSU campus, creating incredible optionality for potential occupancy
Direct access to numerous transportation options that provide convenient access within San Jose and the rest of the San Francisco Bay Area

Shovel-ready residential development site approved for 46 total units and envisioned to house 130 beds
Located within a block of East Santa Clara Street, providing restaurants, cafes, and a direct thoroughfare to Downtown San Jose's retail corridor

Executive Summary

Colliers, as exclusive advisor to the Seller, is pleased to present the opportunity to acquire 488 E Saint John Street (the “Project” or “Property”), an entitled 46-unit student housing development opportunity situated in Downtown San Jose and within a +/- 10 minute walk or +/- 5 minute bike ride to San Jose State University, ranked #3 best public university by U.S. News. The Project will be delivered “shovel-ready” with the Buyer provided with the opportunity to start construction within 3 – 6 months following close of escrow. The Property includes an assemblage of three adjacent parcels that are improved with residential properties that will be demolished as part of the construction of the approved Project.

Flyer-488 E St John

Property Facts

Sale Type	Investment	Property Type	Land
Sale Conditions	Redevelopment Project	Property Subtype	Residential
No. Lots	1	Total Lot Size	0.37 AC

Sale Type	Investment
Sale Conditions	Redevelopment Project
No. Lots	1
Property Type	Land
Property Subtype	Residential
Total Lot Size	0.37 AC

1 Lot Available

Lot

Lot Size	0.37 AC

Lot Size	0.37 AC

The Property is comprised of three adjacent parcels totaling 16,077 square feet. All three parcels are zoned R-M (Multiple Residence District) and are located within the Downtown Frame Area, which sets a height limit of 120 feet.

Description

The existing property is made up of a single family home on 484 East Saint John, a single family home on 488 East Saint John, and a triplex on 97 North 11th Street.

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