2388 Madden Ave - Apartments FOR SALE


San Jose, CA 95116- Luz
$20,000,000 USD
415-288-7865
2388 Madden Ave, San Jose, CA for Sale
$20,000,000 USD
Apartments - FOR SALE
1/36
null | 5% Cap Rate

2388 Madden Ave
San Jose, CA 95116
Luz


OVERVIEW

Investment Highlights EXTREMELY WELL AMENITIZED STRATEGIC VALUE-ADD OPPORTUNITY UNPARALLELED LIFESTYLE & RETAIL EPICENTER OF SILICON VALLEY INNOVATION ACCESS TO TOP-TIER PUBLIC EDUCATION CENTRALIZED TRANSIT & COMMUTER ACCESS Executive Summary Jones Lang LaSalle (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire Aviara Apartments (the “Property”) – a premier 46-unit, garden community located in the dynamic San Jose market. Built in 2012 and conceived as condominiums, Aviara represents a rare opportunity to acquire a pride-of-ownership asset of institutional quality, featuring high-end amenities such as a fitness center, spa, and secure underground parking that are typically found in much larger communities. The Property offers investors a compelling Core-Plus opportunity with a clearly defined and proven value-add strategy. Current ownership has successfully renovated 27 units with modern finishes, achieving significant rent premiums and establishing a clear path to generating additional income. A new owner is perfectly positioned to continue this successful renovation program on the remaining 19 “Classic” units, immediately unlocking the embedded rental upside. Situated in one of the nation’s most resilient and tech driven job markets, Aviara attracts a high-quality tenant base of young professionals with an average household income exceeding $150,000. The Property’s attainable rent levels, combined with its modern design and luxury amenities, make it a highly desirable option in a market with a limited new supply pipeline. Aviara offers the ideal combination of in-place cash flow, proven upside, and a strategic location, making it an exceptional investment in the heart of Silicon Valley.

FOR SALE DETAILS

PRICE

$20,000,000 USD

PRICE/SF

$510 USD /SF

# OF UNITS

46

PRICE/UNIT

$434,783

CAP RATE

5%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Aviara

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2012

PARKING SPACES

77

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

27,007 SF

ZONING

R1B6

APN/PARCEL ID

484-61-052

ASK ABOUT THIS PROPERTY

Ryan WagnerJLLMore Info
415-288-7865

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Ryan WagnerJLLMore Info
415-288-7865

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