FOR SALE $4,999,999 142-150 E Santa Clara St, San Jose, CA APN 467-23-035 ± 11,766 square feet mixed use retail / residential 1
CONFIDENTIALITY AGREEMENT This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property. This Memorandum contains selected information pertaining to the Property and is unintended to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and The Ivy Group ( TIG ). Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither TIG nor any of their respective directors, officers, or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner s obligations therein have been satisfied or waived. By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or TIG. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or TIG. 2
PROPERTY HIGHLIGHTS TIG is pleased to offer for sale the fee simple interest in a mixed use ground floor retail and upper level residential property located at 142-150 E Santa Clara Street, San Jose, CA ( Property ). The Property is a freestanding retail and residential building consisting of two retail units and nine residential units. The building was built in 1900 and consists of ± 11,766 square feet on an ± 5,941 square feet lot. The Property is strategically positioned near the intersections of East Julian Street and North 4th Street, offering convenient access to San Jose Downtown, freeways 101 and 280. Price: $4,9999,999 Building Size: ± 11,766 square feet 2 units: ground floor retail 9 units: second level residential Lot Size: ± 5,941 square feet Year Built: 1900 Location: in the heart of downtown San Jose, near: San Jose City Hall (across the street) Silicon Valley U.S. Patent & Trademark Office San Jose State University (one block) San Pedro Square Market San Jose McEnery Convention Center Tech Museum of Innovation Accessibility: minutes to freeways 87, 101, 280, 680, Almaden Expressway, Mineta San Jose International Airport 3
FINANCIAL ANALYSIS Size Type LED Amount (actual) Amount (proforma) Income Crystal Palm Reading, #144 772 Retail Vacant $2,509 4th Street Pizza, #150 4492 Retail 4/30/21 $13,877 $14,293 Unit A 320 Apt Studio M-M $1,050 $1,600 Unit B 620 Apt 1BR/1BA M-M $1,350 $1,950 Unit C 649 Apt 1BR/1BA Vacant $1,950 Unit D 731 Apt 1BR/1BA M-M $1,450 $2,000 Unit E 506 Apt 1BR/1BA M-M $840 $1,850 Unit F 564 Apt 1BR/1BA M-M $1,200 $1,900 Unit G 640 Apt 1BR/1BA Vacant $1,900 Unit H 684 Apt 1BR/1BA M-M $1,100 $1,950 Unit K 396 Apt 1BR/1BA Vacant $1,500 TOTAL Income (monthly) $20,867 $33,402 TOTAL Income (annually) $250,404 $400,828 Expenses Bank Fees $40 $41 Property Taxes $45,837 $61,926 Licenses and Permits $865 $891 Insurance $7,782 $6,500 Cleaning, Landscaping & Maintenance $9,891 $18,000 Misc Professional Fee $1,125 $1,159 Property Management $4,125 $20,041 Repairs & Maintenance $3,350 $12,000 Utilities: water/electric/garbage $15,484 $15,948 TOTAL Expenses (annually) $88,499 $136,508 NOI $161,905 $264,320 Cap Rate 3.23% 5.25% 4
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Contact Exclusive Agents for Details and Tour Tim Vi Tran, CCIM, CIPS David Tran 408 799 5290 408 694 7774 tim@ivycommercial.com david@ivycommercial.com CA BRE #01784630 CA BRE # 01916748 www.ivycommercial.com 39488 Stevenson Place, Suite 100 Fremont, CA 94539 12