Former Sigma Nu: 3-Min. Walk to SJSU-5.6% CAP | 155 S 11th St
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Former Sigma Nu: 3-Min. Walk to SJSU-5.6% CAP 155 S 11th St Spécialité 1 457 m² À vendre San Jose, CA 95112 3 511 600 € (2 410,31 €/m²) Taux de capitalisation 5,63 %
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INFORMATIONS PRINCIPALES SUR L'INVESTISSEMENT
- Blank Canvas - Fully Vacant, 25-Bedroom Student Rental w/ Potential to Develop into 29-Bedroom Student Rental - 3-Min. Walk to SJSU
- Can Stabilize to +/- 6% to 8% Cap Rate Within 3 to 6 Months. See OM for List of Repositioning Ideas to Turn Asset Into High-Quality Student Rental
- Nice Ceiling Height: Basement - 9'6" Ceiling Height; 1st Floor - 12' Ceiling Height; 2nd/3rd Floors: 9' Ceiling Height
- Estimated Cap Rate is 5.63% (Includes $300k Rehab Budget) and 7.39% with 29-Bedrooms (Includes $300k + $140k Additional Rooms Budget)
- Bldg Size +/- 10,892 SF Accounts for 1st, 2nd, and 3rd Floor Only. Does not Include Basement
- CONTACT AGENT for OM + List of Repositioning Ideas; 2nd and 3rd Level Bedrooms Offer Nice Views of Downtown San Jose and SJSU
RÉSUMÉ ANALYTIQUE
Unique Opportunity to Achieve 5.63% Cap or 7.39% Cap Within 3 to 6-Months by Repositioning & Re-Tenanting 25 or 29 Bedroom Student Rental Within 3-Minutes of SJSU.
Rarely Available, 25-Bedroom (With 29-Bedroom Potential) Student Housing Asset Next to San Jose State University. Fully-Vacant Property Previously Used as SJSU Fraternity House With 10,893 SF on 3 Levels Plus Basement (Per County). Excellent Repositioning Opportunity to Rehab 25 Bedrooms, PLUS Add 4 Bedrooms to Achieve Income of 29 Bedrooms of High-Quality Student Rental. Student Bedroom Leases Run From August 1 to July 31, Offering Secure, Steady Cashflow With Minimal Vacancies. Extremely Supply-Constrained Student Housing Market Near SJSU Campus. Lack of High-Quality Housing Options Near SJSU Provides Investor Excellent Opportunity to Deliver High-Quality Student Housing Option. Property Offers Considerable Interior Space, Numerous Amenities/Repositioning Opportunities to Help Investor Achieve Premium Rents. Spacious Second and Third Floor Bedrooms (+/- 145 SF Bedrooms with 9' Ceilings) Offer Panoramic Views of San Jose and SJSU Campus. Rear of Property Offers 25-Parking Spaces - Investors May Lease Out or Include Parking in Rent, Offering Additional NOI. Multitude of Additional Income-Generating Ideas: Onsite Gym, Movie Room, Bike Storage, Pickleball Courts, Solar Panels, and More.
CURRENT CAP Rate (If Rehab Existing Bedrooms, Baths & Kitchen): 5.63%; GRM: 10.4 (Cap Rate Inclusive of $300,000 Property Rehab Budget); Cost/SF: $367/SF. PRO-FORMA CAP Rate (If Rehab Existing Bedrooms, Baths & Kitchen PLUS Add 4 Bedrooms on Ground Floor): 7.39%; GRM: 8.9 (Inclusive of $300,000 Property Rehab + $140,000 Additional Bedrooms Budget); Cost/SF: $367/SF. Please Contact Listing Agent to Set Up Property Tour & Discuss Repositioning Strategy.
Rarely Available, 25-Bedroom (With 29-Bedroom Potential) Student Housing Asset Next to San Jose State University. Fully-Vacant Property Previously Used as SJSU Fraternity House With 10,893 SF on 3 Levels Plus Basement (Per County). Excellent Repositioning Opportunity to Rehab 25 Bedrooms, PLUS Add 4 Bedrooms to Achieve Income of 29 Bedrooms of High-Quality Student Rental. Student Bedroom Leases Run From August 1 to July 31, Offering Secure, Steady Cashflow With Minimal Vacancies. Extremely Supply-Constrained Student Housing Market Near SJSU Campus. Lack of High-Quality Housing Options Near SJSU Provides Investor Excellent Opportunity to Deliver High-Quality Student Housing Option. Property Offers Considerable Interior Space, Numerous Amenities/Repositioning Opportunities to Help Investor Achieve Premium Rents. Spacious Second and Third Floor Bedrooms (+/- 145 SF Bedrooms with 9' Ceilings) Offer Panoramic Views of San Jose and SJSU Campus. Rear of Property Offers 25-Parking Spaces - Investors May Lease Out or Include Parking in Rent, Offering Additional NOI. Multitude of Additional Income-Generating Ideas: Onsite Gym, Movie Room, Bike Storage, Pickleball Courts, Solar Panels, and More.
CURRENT CAP Rate (If Rehab Existing Bedrooms, Baths & Kitchen): 5.63%; GRM: 10.4 (Cap Rate Inclusive of $300,000 Property Rehab Budget); Cost/SF: $367/SF. PRO-FORMA CAP Rate (If Rehab Existing Bedrooms, Baths & Kitchen PLUS Add 4 Bedrooms on Ground Floor): 7.39%; GRM: 8.9 (Inclusive of $300,000 Property Rehab + $140,000 Additional Bedrooms Budget); Cost/SF: $367/SF. Please Contact Listing Agent to Set Up Property Tour & Discuss Repositioning Strategy.
INFORMATIONS SUR L’IMMEUBLE
| Prix | 3 511 600 € | Surface du lot | 0,15 ha |
| Prix par m² | 2 410,31 € | Surface de l’immeuble | 1 457 m² |
| Type de vente | Investissement | Nb d’étages | 3 |
| Taux de capitalisation | 5,63 % | Année de construction | 1959 |
| Type de bien | Spécialité | Occupation | Mono |
| Sous-type de bien | Maison de sororité/fraternité | Ratio de stationnement | 0,06/1 000 m² |
| Classe d’immeuble | C | Zonage | UR - Zoning: UR (Urban Redevelopment) Height Limit: 135’ (10-16 stories) Residential: 30 to 95 DU/AC - 34 Units Permitted 100% commercial FAR: 1.0 to 4.0 |
| Prix | 3 511 600 € |
| Prix par m² | 2 410,31 € |
| Type de vente | Investissement |
| Taux de capitalisation | 5,63 % |
| Type de bien | Spécialité |
| Sous-type de bien | Maison de sororité/fraternité |
| Classe d’immeuble | C |
| Surface du lot | 0,15 ha |
| Surface de l’immeuble | 1 457 m² |
| Nb d’étages | 3 |
| Année de construction | 1959 |
| Occupation | Mono |
| Ratio de stationnement | 0,06/1 000 m² |
| Zonage | UR - Zoning: UR (Urban Redevelopment) Height Limit: 135’ (10-16 stories) Residential: 30 to 95 DU/AC - 34 Units Permitted 100% commercial FAR: 1.0 to 4.0 |
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Walk Score®
Très praticable à pied (88)
Bike Score®
Un paradis pour les cyclistes (96)
TAXES FONCIÈRES
| Numéro de parcelle | 467-25-101 | Évaluation des aménagements | 913 € |
| Évaluation du terrain | 5 113 942 € | Évaluation totale | 5 114 855 € |
TAXES FONCIÈRES
Numéro de parcelle
467-25-101
Évaluation du terrain
5 113 942 €
Évaluation des aménagements
913 €
Évaluation totale
5 114 855 €
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Former Sigma Nu: 3-Min. Walk to SJSU-5.6% CAP | 155 S 11th St
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