Value-Add Garden-Style Apartment Complex: A three-story, 22-unit property featuring a value-add opportunity with potential for rent growth through unit upgrades or operational enhancements.
Parking Convenience: 23 tuck-under parking spaces provide secure and convenient tenant parking.
Gated Courtyard Entrance: Gated access enhances tenant safety and privacy.
Spacious Lot Size: Situated on a 0.51-acre lot, the property offers potential for redevelopment, landscaping upgrades, or additional amenities.
Diverse Unit Mix: The property includes a well-balanced mix of unit types: (1) studio, (14) one-bedroom/one-bath units, and (7) two-bedroom/ one-bath units, catering to a wide range of tenant needs.
Modernized Interiors: Units feature laminate flooring, fresh paint, and have been professionally maintained, providing move-in-ready options for tenants while also providing an investor the opportunity to add value through additional upgrades.
Zoning Flexibility: C1H zoning allows for diverse commercial and mixed-use development opportunities, including retail and additional residential potential, offering substantial flexibility for future use.
Investment Upside Potential: Opportunity to reposition the property through strategic renovations or rent optimization to align with market rates, enhancing returns.
Desirable Location: Nestled in East San Jose, the property benefits from proximity to major tech employers, local schools, public transportation, shopping centers, and recreational facilities, making it attractive to renters and investors alike.
LOCATION HIGHLIGHTS
Close Proximity to Major Employers: San Jose is home to numerous tech giants and major employers, with Apple, Google, and Microsoft being a 20-minute drive from the Property.
Nearby Schools: Located near Mount Pleasant Elementary and August Boeger Middle School, with Evergreen Valley High School a short drive away, the property offers excellent access to quality education as well as nearby facilities.
Access to Transportation: Just 0.1 miles from the nearest transit stop, the property enjoys connectivity via VTA bus lines and the Alum Rock Transit Center, providing easy access to downtown San Jose and key employment hubs. Less than 4-miles to Highway 101, Highway 680, and Highway 280.
Nearby Recreational Facilities: Located 1.2 miles from Lake Cunningham Park, a 200-acre green space with a lake, skate park, and trails, the property offers convenient access to outdoor activities for families and recreation enthusiasts.
Retail and Dining Options: Within a short drive are shopping centers like White Road Plaza and Eastridge Mall, featuring major retailers and diverse dining options, enhancing convenience and lifestyle appeal. Immediately next door to a convenience store, restaurant, and medical facilities.
Strong Demographics: The surrounding area features a population of 39,978 within a 1-mile radius and an average household income of $133,759, providing significant purchasing power and investment potential.
