51
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Listed by Don Sung • Colliers Parrish International, Inc.
$3,180,000
Est. payment /mo
1 Bed
1 Bath
7,040 SqFt
New
263 - 267 La Pala DR San Jose, CA 95127
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Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 7,040 sqft
Price per Sqft $451
MLS Listing ID ML82020180
Bedrooms 1
Full Baths 1
Year Built 1958
Lot Size 0.306 Acres
Property Sub-Type Five or More Units
Property Description
12 High-Quality, Pride-Of-Ownership Units in Alum Rock /San Jose Area. First Time on Market in 30+ Years/Generational Asset. Strong Historical Tenancy: Easy to Lease & Easy to Manage w/ Reliable Cashflow and Rental Upside. 2 APNs (6-Units Each Parcel) to Be Sold Together. 12-Units Attractively Priced at $3,180,000. $265,000/Unit. $452/SF. CAP Rate: Current: 4.93%. Market: 6.66%. GRM: Current: 11.8; Market: 9.7. Excellent Unit Mix: Twelve (12) Spacious 1 Bedroom/1 Bath Units (565 SF). 20 Uncovered Parking Spaces in Rear of Property: 10 Parking Spaces for Each Parcel. Shared Courtyard Between 2 Parcels w/ 2 Driveways to Access Parking Spaces. 8 of 12 Units Have Been Renovated w/ Updated Kitchen & Bathrooms. 1-Unit Receives Partial Housing Assistance. 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.
Location
State CA
County Santa Clara
Area Alum Rock
Zoning R3
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Exterior
Parking Features Uncovered Parking
Garage Spaces 10.0
Utilities Available Individual Electric Meters, Individual Gas Meters, Natural Gas, Public Utilities
Roof Type Composition
Building
Foundation Concrete Perimeter
Sewer Sewer - Public
Water Public
Others
Restrictions None
Tax ID 601-06-035 & 601-06-034
Security Features Other
Special Listing Condition Not Applicable
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