420-450 Broadway - Apartments FOR SALE


Gilroy, CA 95020
$4,990,000 USD
408-421-4703
420-450 Broadway, Gilroy, CA for Sale
$4,990,000 USD
Apartments - FOR SALE
1/17
null | 5.86% Cap Rate

420-450 Broadway
Gilroy, CA 95020


HIGHLIGHTS

  • Exceptional Gilroy Investment Opportunity – Well-positioned multifamily asset in the heart of Gilroy, California.
  • Desirable Unit Mix – Attractive mix of two-bedroom and one-bedroom floor plans serving a broad renter base.
  • Attractive Tenant Amenities – Select units feature private parking, private yards, and separate water heaters.
  • Prime Retail Proximity – Walking distance to Town Plaza and just 1.3 miles from Gilroy Premium Outlets.
  • Excellent Transportation Access – Convenient access to Highway 101, CA-25, and CA-152, connecting major South Bay markets.

OVERVIEW

Azure Apartments is a well-maintained 16-unit multifamily community located in Gilroy, California. Originally constructed in 1958, the property includes approximately 11,526 square feet of building area on a spacious 34,000-square-foot parcel. The community offers a desirable mix of one- and two-bedroom floor plans. Select residences feature private yards and individual fireplaces, while residents also benefit from private covered parking. Each unit is separately metered for gas and electricity and equipped with an individual water heater, supporting operational efficiency and resident convenience. Azure Apartments offers investors an opportunity to acquire a 16-unit asset with appealing resident amenities, substantial land area, and convenient access to major employment, retail, dining, and entertainment destinations. The property is located approximately 1.4 miles from the Gilroy Premium Outlets, which features more than 140 retailers, and provides convenient access to Highway 101. It is also within walking distance of Town Plaza Shopping Center and near downtown Gilroy, Gilroy Gardens, and other regional attractions. With its accessible location, functional unit mix, on-site amenities, and large parcel, Azure Apartments represents a compelling investment opportunity in the South Santa Clara County multifamily market.

FOR SALE DETAILS

PRICE

$4,990,000 USD

PRICE/SF

$433 USD /SF

# OF UNITS

16

PRICE/UNIT

$311,875

CAP RATE

5.86%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Azure Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.78 AC

LAND SF

34,000 SF

ZONING

R3, Gilroy

APN/PARCEL ID

790-32-008

ASK ABOUT THIS PROPERTY

Andres LopezMarcus & MillichapMore Info
408-421-4703

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Andres LopezMarcus & MillichapMore Info
408-421-4703

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