Description

The Azucena Group of Marcus & Millichap is the exclusive listing agent for 508 S.11th Street, a 20-unit multifamily property located two blocks from San Jose State University. This is a tremendous opportunity for an investor to acquire a property in the heart of Silicon Valley. The property has been extensively renovated, allowing a new owner to have strong cash flow from day one with a turnkey asset and reduced future costs. The unit mix consists of (19) two bedroom / two bathroom apartments that are approximately 821 sqft each and (1) one bedroom / one bathroom that is approximately 600 sqft. The property sits on a 0.29 acre (or 12,506 sq ft) lot. Among the amenities are a laundry room, assigned gated parking, and enclosed garages for additional income. Unit interiors have been extensively remodeled with vinyl plank flooring, stainless steel appliances, new furnace, quartz counter tops, new kitchen cabinets, new lighting and plumbing fixtures, new closet and bedroom doors, and fully remodeled bathrooms. The exterior has been recently repainted, new exterior wooden fencing, asphalt and restriping, hand rails, and a newer roof.