256 La Pala Dr - Apartments FOR SALE


San Jose, CA 95127- East San Jose
$11,800,000 USD
415-535-7414
256 La Pala Dr, San Jose, CA for Sale
$11,800,000 USD
Apartments - FOR SALE
1/23
null | 6.03% Cap Rate

256 La Pala Dr
San Jose, CA 95127
East San Jose


HIGHLIGHTS

  • Turk Key Investment - Ownership Has Made Extensive Upgrades
  • Desirable Amenities - Parking, Pool, On-Site Laundry
  • Proximity To Silicon Valley Tech Employers

OVERVIEW

256 La Pala, or Country Club Gardens Apartments, (the Property) is a two story multifamily asset built in 1960, situated on a 1.69-acre lot and compromised of thirty-eight (38) well-maintained units, broken down to twenty-four (24) one bedroom one-bathroom units and fourteen (14) two-bedroom one-bathroom units. Current ownership has made significant capital improvements to the property. They include but are not limited to, upgraded solar system, new white membrane roof, upgraded courtyard stairs, and remodeled front entrance and façade. The Property has 28,256 square feet of rentable space, with desirable amenities including an on-site pool, on-site laundry, and private covered parking. Along with modern floor plans, the Property stands out as an amazing place for renters to call home. The Property’s potential offers an investor the rare opportunity to purchase turnkey investment real estate in one of the highest barriers-to-entry residential markets in the U.S. The investment appeal of the Property is driven by the Property’s ground zero Silicon Valley location, strong employment fundamentals, and the significant affordability gap between renting and owning. Perfectly situated near Interstate 680, Interstate 880, Highway 237, and Highway 101, this asset is just moments away from prominent Silicon Valley companies such as Tesla, Seagate, LAM Research, KLA, and Cisco. This offering is being made on an “as is”, “where is” basis.

FOR SALE DETAILS

PRICE

$11,800,000 USD

PRICE/SF

$369 USD /SF

# OF UNITS

38

PRICE/UNIT

$310,526

CAP RATE

6.03%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Country Club Garden Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

42

LAND DETAILS

LAND ACRES

1.69 AC

LAND SF

73,616 SF

ZONING

R3, San Jose

APN/PARCEL ID

601-06-042

ASK ABOUT THIS PROPERTY

Ben MollahanCBREMore Info
415-535-7414

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Ben MollahanCBREMore Info
415-535-7414

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