215 Oak St
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215 Oak St
7 Unit Block of Flats £1,574,055 (£224,865/Unit) 5.18% Net Initial Yield San Jose, CA 95110
Investment Highlights
- 7 Assigned tuck-under carports.
- Less than one mile away from SJSU and Downtown San Jose.
- On-Site Washer/Dryer.
Executive Summary
The R&Z Group of Compass Commercial is pleased to list 215 Oak St, San Jose CA 95110 out in the open market. Situated one mile from Downtown San Jose, 215 Oak Street is situated in the Heart of Silicon Valley which is a strong rental market. The asset features (7) One Bedroom One Bathroom Units and (7) large tuck-under designated parking spaces in an area where parking is limited.
The property is also located one block away from Washington Elementary and less than a half mile from Highway 280, Highway 87, and Highway 101 entrances making access simple and convenient. San Jose State University is less than one mile from the property, along with several companies, such as Cisco, PayPal, FICO, ZOOM, Western Digital, Sage Intacct, PWC, and Adobe.
The property provides its tenants with an on-site coin-operated washer and dryer for the tenants' convenience. Most of the tenants are long-term and have month-to-month leases. Five of the seven units are on the second floor and the remaining two on the first floor. The roof is low pitch with asphalt shingle, while the foundation is concrete perimeter with a crawl space. The electrical panels are up to date and do not require an update.
The property is also located one block away from Washington Elementary and less than a half mile from Highway 280, Highway 87, and Highway 101 entrances making access simple and convenient. San Jose State University is less than one mile from the property, along with several companies, such as Cisco, PayPal, FICO, ZOOM, Western Digital, Sage Intacct, PWC, and Adobe.
The property provides its tenants with an on-site coin-operated washer and dryer for the tenants' convenience. Most of the tenants are long-term and have month-to-month leases. Five of the seven units are on the second floor and the remaining two on the first floor. The roof is low pitch with asphalt shingle, while the foundation is concrete perimeter with a crawl space. The electrical panels are up to date and do not require an update.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£121,465
|
£27.64
|
| Other Income |
£361
|
£0.08
|
| Vacancy Loss |
£3,644
|
£0.83
|
| Effective Gross Income |
£118,182
|
£26.89
|
| Taxes |
£18,150
|
£4.13
|
| Operating Expenses |
£18,431
|
£4.19
|
| Total Expenses |
£36,581
|
£8.32
|
| Net Operating Income |
£81,601
|
£18.57
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £121,465 |
| Annual Per SF | £27.64 |
| Other Income | |
|---|---|
| Annual | £361 |
| Annual Per SF | £0.08 |
| Vacancy Loss | |
|---|---|
| Annual | £3,644 |
| Annual Per SF | £0.83 |
| Effective Gross Income | |
|---|---|
| Annual | £118,182 |
| Annual Per SF | £26.89 |
| Taxes | |
|---|---|
| Annual | £18,150 |
| Annual Per SF | £4.13 |
| Operating Expenses | |
|---|---|
| Annual | £18,431 |
| Annual Per SF | £4.19 |
| Total Expenses | |
|---|---|
| Annual | £36,581 |
| Annual Per SF | £8.32 |
| Net Operating Income | |
|---|---|
| Annual | £81,601 |
| Annual Per SF | £18.57 |
Property Facts
| Price | £1,574,055 | Apartment Style | Low Rise |
| Price Per Unit | £224,865 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Net Initial Yield | 5.18% | Building Size | 4,395 SF |
| Gross Rent Multiplier | 13.65 | Average Occupancy | 100% |
| No. Units | 7 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 3.18/1,000 SF |
| Price | £1,574,055 |
| Price Per Unit | £224,865 |
| Sale Type | Investment |
| Net Initial Yield | 5.18% |
| Gross Rent Multiplier | 13.65 |
| No. Units | 7 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,395 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1957 |
| Parking Ratio | 3.18/1,000 SF |
Unit Amenities
- Storage Space
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 7 | £1,538 | 600 |
Walk Score ®
Very Walkable (88)
Bike Score ®
Biker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 264-38-017 | Total Assessment | £1,600,707 |
| Land Assessment | £1,067,138 | Annual Taxes | £18,150 (£4.13/sf) |
| Improvements Assessment | £533,569 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
264-38-017
Land Assessment
£1,067,138
Improvements Assessment
£533,569
Total Assessment
£1,600,707
Annual Taxes
£18,150 (£4.13/sf)
Tax Year
2023
zoning
| Zoning Code | C2, San Jose (Commercial Development) |
| C2, San Jose (Commercial Development) |
-
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