458 - 466 5th Street - Driftstone Apartments, San Jose, CA

Sale Notes:
Marcus & Millichap is pleased to offer the exclusive listing for the Driftstone Apartments, a 35-unit apartment community on four contiguous parcels located in downtown San Jose across the street from the San Jose State University’s Duncan Hall. The property is comprised of four buildings each on separate parcels with a combined lot size of 0.60 acres (26,135 square feet). The property features a highly desirable unit mix with a victorian duplex providing two one-bedroom/one-bath units, a triplex with two two-bedroom/one-bath and one three-bedroom/two-bath apartment home, and two 15 unit buildings offering three studios, eight one-bedroom/one-bath units, eighteen two-bedroom/one-bath units, and one two-bedroom/two-bath unit. A rarity in downtown San Jose, the property offers eight garages, 12 carports, and 25 open parking spaces. There is also an on-site laundry care center with six washers and six dryers producing added income for the potential investor. All of the buildings were painted in 2011 and provide a strong clean presentation.