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$ 3,180,000
Est. payment | /mo
0.31 Acres Lot
$ 3,180,000
Est. payment | /mo
0.31 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82020180
HOA Y/N No
Year Built 1958
Annual Tax Amount $47,375
Lot Size 0.306 Acres
Property Description
12 High-Quality, Pride-Of-Ownership Units in Alum Rock /San Jose Area. First Time on Market in 30+ Years/Generational Asset. Strong Historical Tenancy: Easy to Lease & Easy to Manage w/ Reliable Cashflow and Rental Upside. 2 APNs (6-Units Each Parcel) to Be Sold Together. 12-Units Attractively Priced at $3,180,000. $265,000/Unit. $452/SF. CAP Rate: Current: 4.93%. Market: 6.66%. GRM: Current: 11.8; Market: 9.7. Excellent Unit Mix: Twelve (12) Spacious 1 Bedroom/1 Bath Units (565 SF). 20 Uncovered Parking Spaces in Rear of Property: 10 Parking Spaces for Each Parcel. Shared Courtyard Between 2 Parcels w/ 2 Driveways to Access Parking Spaces. 8 of 12 Units Have Been Renovated w/ Updated Kitchen & Bathrooms. 1-Unit Receives Partial Housing Assistance. Easy to Manage Units with Low Tenant Turnover. Consistently Strong Rents. Steady Cashflow. Capital Improvements: Dual-Pane Windows, Sliding Doors, New Water Heaters, and More. Proven, Consistent Income-Generator, Providing Strong Cashflow with Low Vacancies and Turnovers. Excellent, Convenient, Cul-de-Sac Location Near HWY 680 & 101, Convenient Access to SJC Airport & Major Silicon Valley Employers. Major Technology Employers: NVIDIA, Adobe, Apple, Cisco, PayPal. PLEASE DO NOT DISTURB TENANTS.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning R3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Utilities Available Natural Gas Available
Roof Type Composition
Total Parking Spaces 20
Building
Water Public
Schools
Elementary Schools Other
School District Other
Others
Tax ID 60106035 & 60106034
Special Listing Condition Standard
Listed by Don Sung Colliers Parrish International, Inc.