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Marcus & Millichap Brokers $4.3M Sale Of 10 Unit Multifamily Property In San Jose

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SOLD
$4,300,000

California

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MultiFamily11,868 SF
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Marcus & Millichap Brokers $4.3M Sale Of 10 Unit Multifamily Property In San Jose

544 South 6th Street

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MultiFamily11,868 SF
Sold
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$362
Total Square Footage:11,868 SF
Transaction Type:Sale

The property involved in the transaction is a multifamily asset located at 544 South 6th Street in San Jose, which was sold for $4,300,000. The building comprises 10 two-bedroom units and spans a total square footage of 11,868. The price per unit is $430,000, with a price per square foot of $362. Built in 1969, the property features modern amenities in most units, including in-unit washers and dryers, new wood flooring, stainless steel appliances, updated kitchens, and granite countertops. Additional offerings include on-site parking and storage.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,300,000
  • Units: 10
  • Square Footage: 11,868
  • Price Per Unit: $430,000
  • Price Per Square Foot: $362

The transaction was brokered by Marcus & Millichap, with Eymon Binesh, Adam Levin, and Robert Johnston representing the seller throughout the process.

Players

Adam Levin
24 deals$461.5M volume(650) 391-1782
BROKER

Robert Johnston
Marcus & Millichap
21 deals$378.4M volume
BROKER

Eymon Binesh
Marcus & Millichap
6 deals$103.2M volume(650) 546-1030
BROKER

Details

SOLD
IMAGE: 07/15/2024 ADDRESS: 544 South 6th Street MARKET: San Jose ASSET TYPE: Multifamily BROKERS: Adam Levin, Eymon Binesh & Robert Johnston - Marcus & Millichap SALE PRICE: $4,300,000 UNITS: 10 ~ PPU: $430,000 SF: 11,868 ~ PPSF: $362 NOTE: Marcus & Millichap brokered the $4.3 million sale of a San Jose apartment building located at 544 S. Sixth St. The property, situated on an 11,868-square-foot parcel, includes 10 two-bedroom units, most of which have been renovated with modern amenities such as in-unit washers and dryers, new wood flooring, stainless steel appliances, updated kitchens, and granite countertops. Built in 1969, the asset also offers on-site parking and storage. Eymon Binesh, Adam Levin, and Robert Johnston represented the seller in the transaction.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$229,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,277.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,384.19
Annual Debt Service$244,610.33