3603 Greenlee Dr - Apartments FOR SALE


San Jose, CA 95117- Northlake
$6,500,000 USD
415-288-7811
3603 Greenlee Dr, San Jose, CA for Sale
$6,500,000 USD
Apartments - FOR SALE
1/12
null | 5.19% Cap Rate

3603 Greenlee Dr
San Jose, CA 95117
Northlake


HIGHLIGHTS

  • $260,000 Per Unit
  • In Place Cap Rate of 5.19%
  • Over 20% in Rental Upside
  • Irreplaceable Silicon Valley Location
  • Desirable Unit MIx (16) One-Bedroom and (9) Two-Bedroom
  • 1.4 Parking Spaces per Unit

OVERVIEW

3603 Greenlee Drive is a 25-unit apartment community situated on a 0.58-acre parcel in San Jose, California. Comprising of four residential buildings, the property offers residents convenient community amenities and a strategic location just minutes from major Silicon Valley employment hubs, highly rated academic centers, and world-class retail destinations. With convenient access to key regional thoroughfares, including the I-280 and San Tomas Expressway, the property benefits from a robust tenant profile seeking a commuter-friendly location paired with suburban tranquility. With in-place rents currently below West San Jose’s average market rent, 3603 Greenlee Drive still offers investors solid in-place cash flow from day one. The property benefits from a desirable unit mix consisting of spacious 1-Bedroom and 2-Bedroom units, presenting a clear opportunity for future rent growth and long-term appreciation in one of Silicon Valley’s strongest markets.

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$353 USD /SF

# OF UNITS

25

PRICE/UNIT

$260,000

CAP RATE

5.19%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Bordeaux

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1968

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.58 AC

LAND SF

25,243 SF

ZONING

R3, San Jose

APN/PARCEL ID

303-28-051

ASK ABOUT THIS PROPERTY

Matt FlahertyColliersMore Info
415-288-7811

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Matt FlahertyColliersMore Info
415-288-7811

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