263 La Pala Dr - Apartments FOR SALE


San Jose, CA 95127- La Pala South
$1,620,000 USD
650-380-5188
263 La Pala Dr, San Jose, CA for Sale
$1,620,000 USD
Apartments - FOR SALE
1/50
null | 4.68% Cap Rate

263 La Pala Dr
San Jose, CA 95127
La Pala South


HIGHLIGHTS

  • First Time on Market in 30+ Years / Generational Multifamily Asset
  • 12 High-Quality, Spacious Units With 6 Private Balconies (Upstairs Units) and 6 Private Patios (Downstairs Units)
  • Easy to Manage, 12-Unit Apartment Cash Cow Asset in an Excellent Alum Rock Location in San Jose
  • Current CAP Rate: 4.93% / Current GRM: 11.8; Pro-Forma CAP Rate: 6.66% / Pro-Forma GRM: 9.7
  • Property SF: 3,520 SF (Each 6-Unit Parcel) x 2 = 7,040 SF (2 Parcels); Cost/Unit: $265,000/Unit; Cost/SF: $452/SF
  • Excellent, Convenient, Cul-de-Sac Location Near HWY 680 & 101, With Convenient Access to SJC Airport & Major Silicon Valley Employers

OVERVIEW

6 High-Quality, Pride-Of-Ownership Units in Alum Rock /San Jose Area. First Time on Market in 30+ Years/Generational Asset. 4 of 6 Units Have Been Renovated With Updated Kitchens and Bathrooms. Strong Historical Tenancy: Easy to Lease & Easy to Manage w/ Reliable Cashflow and Rental Upside. CAP Rate: Current: 4.68%. Market: 6.52%. GRM: Current: 12.2; Market: 9.9. Shared Courtyard Between 2 Parcels w/ 2 Driveways to Access Parking Spaces. 2 Units to Be Delivered Vacant - Market Rent is $2,200/Month 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.

FOR SALE DETAILS

PRICE

$1,620,000 USD

PRICE/SF

$456 USD /SF

# OF UNITS

12

PRICE/UNIT

$135,000

CAP RATE

4.68%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

R3

APN/PARCEL ID

601-06-035

ASK ABOUT THIS PROPERTY

Don SungColliersMore Info
650-380-5188

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Don SungColliersMore Info
650-380-5188

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