CA > San Jose
San Jose, CA 95127,263 - 267 La Pala DR
San Jose, CA 95127,263 - 267 La Pala DR
San Jose, CA 95127,263 - 267 La Pala DR
San Jose, CA 95127,263 - 267 La Pala DR
San Jose, CA 95127,263 - 267 La Pala DR
San Jose, CA 95127,263 - 267 La Pala DR
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Drew Reid

Drew Reid

+1(408) 515-1362
Listed by Don Sung • Colliers Parrish International, Inc.
$ 3,180,000
Est. payment | /mo

1 Bed

1 Bath

7,040 SqFt

Save
$ 3,180,000
Est. payment | /mo
Save

1 Bed

1 Bath

7,040 SqFt

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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Drew Reid
Drew Reid

REALTOR® | Lic# 01332884

+1(408) 515-1362

410 N Santa Cruz Ave, Los Gatos, CA, 95030-5321, USA

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263 - 267 La Pala DR