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Country Club Garden Apartments 256 La Pala Dr 38 Unit Apartment Building $11,800,000 ($310,526/Unit) 6.03% Cap Rate San Jose, CA 95127
INVESTMENT HIGHLIGHTS
- Turk Key Investment - Ownership Has Made Extensive Upgrades
- Proximity To Silicon Valley Tech Employers
- Desirable Amenities - Parking, Pool, On-Site Laundry
EXECUTIVE SUMMARY
256 La Pala, or Country Club Gardens Apartments, (the Property) is a two story multifamily asset built in 1960, situated on a 1.69-acre lot and compromised of thirty-eight (38) well-maintained units, broken down to twenty-four (24) one bedroom one-bathroom units and fourteen (14) two-bedroom one-bathroom units. Current ownership has made significant capital improvements to the property. They include but are not limited to, upgraded solar system, new white membrane roof, upgraded courtyard stairs, and remodeled front entrance and façade. The Property has 28,256 square feet of rentable space, with desirable amenities including an on-site pool, on-site laundry, and private covered parking. Along with modern floor plans, the Property stands out as an amazing place for renters to call home.
The Property’s potential offers an investor the rare opportunity to purchase turnkey investment real estate in one of the highest barriers-to-entry residential markets in the U.S. The investment appeal of the Property is driven by the Property’s ground zero Silicon Valley location, strong employment fundamentals, and the significant affordability gap between renting and owning. Perfectly situated near Interstate 680, Interstate 880, Highway 237, and Highway 101, this asset is just moments away from prominent Silicon Valley companies such as Tesla, Seagate, LAM Research, KLA, and Cisco.
This offering is being made on an “as is”, “where is” basis.
The Property’s potential offers an investor the rare opportunity to purchase turnkey investment real estate in one of the highest barriers-to-entry residential markets in the U.S. The investment appeal of the Property is driven by the Property’s ground zero Silicon Valley location, strong employment fundamentals, and the significant affordability gap between renting and owning. Perfectly situated near Interstate 680, Interstate 880, Highway 237, and Highway 101, this asset is just moments away from prominent Silicon Valley companies such as Tesla, Seagate, LAM Research, KLA, and Cisco.
This offering is being made on an “as is”, “where is” basis.
PROPERTY FACTS
| Price | $11,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $310,526 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.69 AC |
| Cap Rate | 6.03% | Building Size | 32,000 SF |
| Gross Rent Multiplier | 11.29 | Average Occupancy | 97% |
| No. Units | 38 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Parking Ratio | 1.31/1,000 SF |
| Zoning | R3, San Jose | ||
| Price | $11,800,000 |
| Price Per Unit | $310,526 |
| Sale Type | Investment |
| Cap Rate | 6.03% |
| Gross Rent Multiplier | 11.29 |
| No. Units | 38 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.69 AC |
| Building Size | 32,000 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.31/1,000 SF |
| Zoning | R3, San Jose |
AMENITIES
UNIT AMENITIES
- Balcony
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
- Freezer
- Patio
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Recycling
- Smoke Free
- Online Services
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 24 | - | 600 |
| 2+1 | 14 | - | 775 |
Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 601-06-042 | Improvements Assessment | $1,826,193 |
| Land Assessment | $3,883,724 | Total Assessment | $5,709,917 |
PROPERTY TAXES
Parcel Number
601-06-042
Land Assessment
$3,883,724
Improvements Assessment
$1,826,193
Total Assessment
$5,709,917
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Country Club Garden Apartments | 256 La Pala Dr
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