Santana Apartments

01-11-2022
01-11-2022

2955 Neet Ave, San Jose, CA 95128

  • Attractive Courtyard-style Complex with mature landscaping
  • Moments to Santana Row, Valley Fair Mall & Downtown Campbell
  • Ability to add a +/- 400 square foot studio

Property Description

This well-maintained property offers the opportunity to acquire an apartment complex in an ideal rental location. The
property features an outstanding unit mix of (18) 2 bedroom/1 bathroom apartments - 860 sf each and (6) 1
bedroom/1 bathroom apartments - 774 sf each. The property is gated and features an attractive courtyard.
There is an additional area on the 2nd floor that will allow two of the 2+1 apartments to be converted into two 2+2
apartments with in unit laundry. Please see the drawings for these in the offering memorandum. This strong rental
location is moments from Santana Row, Valley Fair Mall, Downtown Campbell and is near Highways 280, 17 and Santa
Tomas Expressway. A buyer should be able to secure a new loan at 3.15% fixed for 7 years with 3-4 years of interest only payments.

Key Property Information

Listing Status
Available
Price
$ 10,450,000
No. of Units
24
Cap Rate
2.51%
GRM / GIM
16.86
Year Built
1963
Building Size
20,076 Sq ft
Lot Size
36,590.4 Sq ft
No. of Stories
2
Opportunity Zone
Off
Price per unit
$ 435,417
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37.307696, -121.946689

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