$1,840,000
SOLD JUN 28, 2019
5 Beds
3 Baths
4,032 Sq Ft
5,959 Sq Ft Lot

Recently Sold

$456 Per Sq Ft

3% Below List Price

41 Days on Market

About This Home

As of June 2019

Mixed use Bldg, Perfect location! BIG upside in income. Well maintained mixed use prop w/ 2 residential rental units (3/1 and 2/1) upstairs, and a convenience mkt. and an office studio at street level PLUS large 779 Sq. Ft. detached bldg for use as an office or storage area which can be rented for additional income. NO RENT CONTROL, HUGE UPSIDE ON THE RENTS, EXCELLENT LOCATION IN ROSE GARDEN. 5 MIN DRIVE TO FUTURE HOME OF GOOGLE 20 ACRE MEGA CAMPUS & Diridon Cal-Train Sta. 5 min drive to upscale Santana Row and W Valley Fair Mall & O'Conner Hospital. Excellent School District Lincoln HS, Hoover Middle School, & Trace Elementary. Walking distance to Rose Garden & Zanottos Mkt. Long term stable tenants, 100% occupied, all tenants on month to month. Craftsman style architecture, exceptional detail to interior cabinetry and door moldings. Ample parking for retail customers. Dual pane windows in residential units

Last Agent to Sell the Property

Raul Richardson

Real Estate Investment Experts, Inc. License #01390503 Listed on: 05/02/2019

Last Buyer's Agent

Nam Ky

Selective Realty Inc License #01113050

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $24,793

Year Built

  • 1930

Lot Details

  • 5,959 Sq Ft Lot

Parking

  • 3 Car Garage
  • Workshop in Garage
  • Assigned Parking

Home Design

  • Flat Roof Shape
  • Concrete Perimeter Foundation

Interior Spaces

  • 4,032 Sq Ft Home
  • 2-Story Property
  • Washer and Dryer

Flooring

  • Wood
  • Tile

Listing and Financial Details

  • Total Actual Rent $100,000

Community Details

Overview

  • 4,032 Sq Ft Building

Building Details

  • 4 Leased Units
  • Insurance Expense $4,750
  • Utility Expense $1,268
  • Trash Expense $1,973
  • Operating Expense $32,146
  • Gross Income $99,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$24,793

Year Built

1930

Lot Details

0

Parking

3

Listing Details

  • Zoning: C1
  • Subclass: Multiple Dwellings / Structures
  • Age: 89
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 4032
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1930

Interior Features

  • Living Sq Ft: 4032
  • Stories: 2
  • Laundry: Washer/Dryer - Some Units
  • Flooring: Hardwood, Tile

Exterior Features

  • Foundation: Concrete Perimeter And Slab
  • Roof: Flat / Low Pitch

Garage/Parking

  • Garage Spaces: 3
  • Parking Spaces: 8
  • Garage Parking Features: Assigned Spaces, Common Parking Area, Parking Area, Workshop In Garage

Utilities

  • Sewer/Septic System: Sewer - Public

Schools

  • School District: San Jose Unified
  • Elementary School: Grant Elementary
  • Middle School: Herbert Hoover Middle
  • High School: Abraham Lincoln High
  • High School: 347
  • Elementary School: 365
  • Middle School: 340

Lot Info

  • Lot Acres: 0.1368
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5958.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5958.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 19.00
  • Number Of Leased: 4

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 4750
  • Expenses Total: 32146
  • Expenses Utility: 1268
  • Expense Trash: 1973
  • Income Annual Gross: 99000.00
  • Income Annual Rental: 100000
  • Income Gross Scheduled: 100000
  • Meters: Separate Electric, Separate Gas, Separate Water
  • Number Of Buildings: 2
  • Operating Expenses Include: Services - Trash Removal, Utilities - Water
  • Tenant Expenses: Utilities - Electric
  • Vacancy Factor: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 1, 2020
Sold by
Nguyen Le and City Of San Jose
Bought by
Park Place Investment Llc
Current Estimated Value
$2,217,186

Purchase Details

Closed on
Dec 5, 2019
Sold by
Nguyen Le and City Of San Jose
Bought by
Park Place Investment Llc

Purchase Details

Listed on
May 2, 2019
Closed on
Jun 24, 2019
Sold by
Donovan Pamela Pennington and Pennington Roger
Bought by
Ky Nguyen and Le Nga
Seller's Agent
Raul Richardson
Real Estate Investment Experts, Inc.
Buyer's Agent
Nam Ky
Selective Realty Inc
List Price
$1,900,000
Sold Price
$1,840,000
Premium/Discount to List
-$60,000
-3.16%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.05%

Purchase Details

Closed on
Feb 1, 2012
Sold by
Pennington Nanry R
Bought by
Pennington Nancy Rita
Source: Public Records

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Grant Deed -- None Available
Grant Deed -- None Available
Grant Deed $1,840,000 North American Title Co Inc
Interfamily Deed Transfer -- None Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/28/2019 06/28/19 Sold $1,840,000 -3.2% $456 / Sq Ft
06/13/2019 06/13/19 Pending -- -- --
05/02/2019 05/02/19 For Sale $1,900,000 -- $471 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $24,793 $2,052,551 $1,338,620 $713,931
2024 $24,793 $2,012,306 $1,312,373 $699,933
2023 $24,349 $1,972,850 $1,286,641 $686,209
2022 $24,179 $1,934,167 $1,261,413 $672,754
2021 $23,754 $1,896,243 $1,236,680 $659,563
2020 $23,357 $1,876,800 $1,224,000 $652,800
2019 $2,581 $94,185 $36,632 $57,553
2018 $2,540 $92,339 $35,914 $56,425
2017 $2,503 $90,529 $35,210 $55,319
2016 $2,352 $88,755 $34,520 $54,235
2015 $2,299 $87,423 $34,002 $53,421
2014 -- $85,711 $33,336 $52,375
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLSListings

MLS Number: ML81750048

MLSListings

APN: 274-11-040