922 Leigh Ave - Apartments FOR SALE


San Jose, CA 95128- Fruitdale College
$1,950,000 USD
408-356-1900
922 Leigh Ave, San Jose, CA for Sale
$1,950,000 USD
Apartments - FOR SALE
1/7
null | 3.57% Cap Rate

922 Leigh Ave
San Jose, CA 95128
Fruitdale College


HIGHLIGHTS

  • Excellent Unit Mix ~ (1) 3BD/2BA & (3) 2BD/1BA
  • Prime West San Jose Location

OVERVIEW

This fourplex in West San Jose boasts an excellent unit mix consisting of large units as follows: (1) 3BD/2BA unit with a fireplace (~1,250 SF) and (3) 2BD/1BA units (~ 850 SF). There are six covered parking spaces (tuck-under parking) and 3 additional on-site spaces. There is also an onsite laundry facility with equipment leased from Coinmach. Unit 1, the 3BD/2BA, was remodeled within the last five years, including the kitchen (counters, cabinets, appliances), bathroom, flooring and paint. Units 2&4 were remodeled in the last 10 years. All units have dishwashers, air conditioners and radiant wall heating systems. The building has been well- maintained over the years. Unit rents are close to market rate. Current Gross Scheduled Income is $125,328 which includes $94/month in laundry income. All four units are fully rented at near market rate with no delinquencies. There is some upside potential in the rents because the property is located in West San Jose, a desirable rental location that is close to shopping, large employers, commuter routes and schools. Constructed in 1977 on an 10,750 SF lot, the 3,802 SF building was built on a concrete perimeter with stucco over wood- frame construction. The building has copper plumbing and the roof is pitched composition shingle. All units are individually metered for gas and electric. The owner pays water/sewer, trash removal, common area utilities, landscaping, repairs, taxes and insurance. As are all 3+ unit multifamily properties located in San Jose, the building is subject to the City of San Jose's Apartment Rental and Tenant Protection Ordinance.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$513 USD /SF

# OF UNITS

4

PRICE/UNIT

$487,500

CAP RATE

3.57%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,750 SF

ZONING

R3

APN/PARCEL ID

282-35-066

ASK ABOUT THIS PROPERTY

Michael ShieldsSilicon Valley Multifamily GroupMore Info
408-356-1900

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Michael ShieldsSilicon Valley Multifamily GroupMore Info
408-356-1900

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