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193 Cleveland Avenue, San Jose, California 95128

(Sold At) $2,075,000
193 Cleveland Avenue, San Jose Ca 95128 ( 8 units )
193 Cleveland Avenue, San Jose Ca 95128 ( 8 units )
193 Cleveland Avenue, San Jose Ca 95128 ( 8 units )

Property Details

Beds0 Baths0 Garage0

Property Description

Marcus & Millichap has been selected to exclusively market for sale this eight unit multifamily building consists of a great unit mix including (6) 1 bedroom, 1 bathroom unit and (2) studios with on-site coin-op washer/dryer. This building has seven out of eight units recently remodeled. The two studios have ample space. 193 Cleveland Ave is located two miles away from Downtown San Jose giving access to many of the top Silicon Valley employers, various types of restaurants, nightlife, entertainment, transportation and schools . The property is also located in close proximity to Santana Row with many high end shopping venues and restaurants. The property is close to CalTrain which provides fast transportation to Sunnyvale, Palo Alto, and San Francisco. San Jose State University and Santa Clara University are less than two miles from the property giving the opportunity to access a strong rental market.
Located in a residential neighborhood, residents of 193 Cleveland Ave enjoy easy access to the many amenities provided by the City of San Jose. The subject property sits on a 3,640 SF Lot. The eight units are master metered for water and individually metered for electricity and gas.
193 Cleveland Ave is exempt from San Jose’s rent control ordinance, but does fall under California Senate Bill 1482 (Tenant Protection Act) which means there is more room for potential rent increases as opposed to San Jose’s more stringent law of 5%. California has a 5% plus CPI (Consumer price index) regulation leaving room for 7.5%+ increases annually.

Property Type Multi Family

Property Status: Closed

Property Features

Location

193 Cleveland Avenue, San Jose, California 95128

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