• 325 E Saint John St.   I   Price: $998,000  I  $/Sq Ft: $886
  • 684 E Julian St.  I   Price: $998,000  I  $/Sq Ft: $689
  • 1090 S 7th St.  I   Price: $998,000  I  $/Sq Ft: $933
  • 22 S 10th St.  I   Price: $1,100,000  I  $/Sq Ft: $755

 

Rare 38-Unit SRO Portfolio

The Spartan Portfolio offers a rare opportunity to acquire 38 income producing Single-Room Occupancy (SRO) units across four clustered properties in Central San Jose:

  • + 325 E Saint John St – 9 units
  • + 684 E Julian St – 8 units
  • + 1090 S 7th St – 10 units
  • + 22 S 10th St – 11 units

Each house features private bedrooms within a shared living setup, designed for students, service workers, and young professionals seeking affordable, centrally located housing. About 80% of current tenants are San Jose State University students.

Exceptional Value-Add Potential with Strong Rent Upside

In-place rents average 30% below market, offering a clear path to higher cash flow. Stabilized gross rents can increase by:

  • Strategic rent adjustments on turnover
  • Modest unit and common area improvements
  • Implementing fees for currently uncharged amenities (parking, storage)

Under monetized Parking & Storage Income

All four properties offer parking, parking permits, and secure storage spaces, which are currently provided free of charge. This represents an unleveraged ancillary revenue stream. By implementing modest monthly fees, new ownership can immediately enhance NOI with minimal expense or disruption.

Asset Portfolio in Prime Central San Jose Locations

Located in walkable neighborhoods near Downtown San Jose and San Jose State University, each property is ideally positioned for stable longterm occupancy.

  • 4 properties within a 1.5 mile radius of one another
  • All zoned for multifamily or commercial
  • Less than 1.0 miles from SJSU

Unique, Scalable Entry into the San Jose Market

The portfolio offers a rare opportunity to acquire scale at a discount to replacement cost and comps. Ideal for private operators, student housing buyers, or co-living platforms. Multiple properties allow for operational flexibility, while staying within a manageable asset size for efficient management.

Long-Term Security with Proven SRO Demand

San Jose is undergoing a once-in-a-generation urban transformation, with $10B+ in approved development including Google’s massive Downtown West project, major public transit expansion, and over 20M SF of new office and mixed-use construction in the pipeline. With over 1 million residents and 36,000+ students at San Jose State University, demand for centrally located, affordable housing continues to outpace supply.

With 84% of SJSU students living off-campus and no large-scale SRO supply coming online, the portfolio benefits from high occupancy, low turnover, and strong rent stability.