2388 Karen Dr - Apartments FOR SALE


Santa Clara, CA 95050- Outer Santa Clara
$4,150,000 USD
408-438-0585
2388 Karen Dr, Santa Clara, CA for Sale
$4,150,000 USD
Apartments - FOR SALE
1/41
null | 4.82% Cap Rate

2388 Karen Dr
Santa Clara, CA 95050
Outer Santa Clara


HIGHLIGHTS

  • Prime Silicon Valley Location: 2 miles from NVIDIA HQ and 3 miles from Apple HQ
  • Value-add opportunity with 30%+ upside in rents through renovations
  • Outstanding Unit Mix: (8) 2BD/1BA and (4) 1BD/1BA with spacious floor plans on large 0.37 acre lot
  • New roof (2019), New Water Heater (2026), Pool, Dishwashers, and passed SB-721 inspection
  • First time on market in 40+ years

OVERVIEW

Magnify is pleased to present 2388 Karen Drive, a rare opportunity to acquire a classic value-add apartment community in Santa Clara, one of the most landlord-friendly rental markets in Silicon Valley. Ideally located 2 miles from NVIDIA and 3 miles from Apple, the property offers investors an excellent location with significant upside in an irreplaceable employment corridor. Offered for sale for the first time in 40+ years, the building consists of 9,269 building square feet on a large 0.37-acre parcel. The property features a desirable unit mix of (8) 2BD/1BA and (4) 1BD/1BA, catering to a broad tenant base. Residents benefit from dishwashers, functional floor plans, and a swimming pool that enhances tenant appeal and retention. Several major capital improvements include a new roof (2019) and water heater (2026). The property also has copper plumbing, low-maintenance hardscaping, and completed the SB-721 inspection. This asset presents a compelling investment with over 30% upside in rental income through renovations. Combining substantial income upside and a premier location near some of the world's largest technology employers, 2388 Karen Drive represents a rare opportunity for a high-growth property with immediate and long-term value creation potential.

FOR SALE DETAILS

PRICE

$4,150,000 USD

PRICE/SF

$365 USD /SF

# OF UNITS

12

PRICE/UNIT

$345,833

CAP RATE

4.82%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ladera Lrms

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,226 SF

ZONING

*R3

APN/PARCEL ID

290-36-068

ASK ABOUT THIS PROPERTY

David KatzMagnify EquityMore Info
408-438-0585

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David KatzMagnify EquityMore Info
408-438-0585

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.