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Leigh Ave Apartments 1235 Leigh Ave 18 Unit Apartment Building $5,050,000 ($280,556/Unit) 5.92% Cap Rate San Jose, CA 95126
Investment Highlights
- Prime South Bay location near Willow Glen, Campbell, and Santana Row
- Near major Silicon Valley employers including Adobe, eBay, Apple, Google, Netflix , and more
- Unit mix: four 2BR units (including two 2BR x 1.5BA), ten 1BR/1BA units, and four studios
Executive Summary
$250K Price Reduction - Reviewing offers as they are received!
The Zurich Group of Marcus & Millichap is pleased to present 1235 Leigh Avenue, an 18-unit apartment community located just outside the desirable Willow Glen neighborhood of San Jose. Desirable unit mix features four 2-bedroom units (including two 2BR x 1.5BA), ten 1-bedroom/1-bath units, and four studios, appealing to a broad tenant base. The property offers on-site laundry for additional income. Prime South Bay location near Downtown Willow Glen, Campbell, and Santana Row, with easy access to The Pruneyard, San Jose City College, Bascom Light Rail, I-280, and Hwy 17. A rare opportunity to acquire a well-located multifamily asset with strong rental demand.
The Zurich Group of Marcus & Millichap is pleased to present 1235 Leigh Avenue, an 18-unit apartment community located just outside the desirable Willow Glen neighborhood of San Jose. Desirable unit mix features four 2-bedroom units (including two 2BR x 1.5BA), ten 1-bedroom/1-bath units, and four studios, appealing to a broad tenant base. The property offers on-site laundry for additional income. Prime South Bay location near Downtown Willow Glen, Campbell, and Santana Row, with easy access to The Pruneyard, San Jose City College, Bascom Light Rail, I-280, and Hwy 17. A rare opportunity to acquire a well-located multifamily asset with strong rental demand.
Property Facts
| Price | $5,050,000 | Apartment Style | Low-Rise |
| Price Per Unit | $280,556 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.43 AC |
| Cap Rate | 5.92% | Building Size | 12,112 SF |
| Gross Rent Multiplier | 10.95 | No. Stories | 2 |
| No. Units | 18 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1.82/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R4H, San Jose | ||
| Price | $5,050,000 |
| Price Per Unit | $280,556 |
| Sale Type | Investment |
| Cap Rate | 5.92% |
| Gross Rent Multiplier | 10.95 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 12,112 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.82/1,000 SF |
| Zoning | R4H, San Jose |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Heating
- Kitchen
- Oven
- Range
- Double Pane Windows
- Window Coverings
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walking/Biking Trails
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 525 |
| 1+1 | 10 | - | 630 |
| 2+1 | 4 | - | 1,030 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
50/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 284-26-008 | Improvements Assessment | $2,734,114 |
| Land Assessment | $3,554,348 | Total Assessment | $6,288,462 |
Property Taxes
Parcel Number
284-26-008
Land Assessment
$3,554,348
Improvements Assessment
$2,734,114
Total Assessment
$6,288,462
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Leigh Ave Apartments | 1235 Leigh Ave
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