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263 La Pala Dr 6 Unit Apartment Building $1,570,000 ($261,667/Unit) 4.83% Cap Rate San Jose, CA 95127
INVESTMENT HIGHLIGHTS
- First Time on Market in 30+ Years / Generational Multifamily Asset
- Excellent, Convenient, Cul-de-Sac Location Near HWY 680 & 101, With Convenient Access to SJC Airport & Major Silicon Valley Employers
- Easy to Manage, 6-Unit Apartment Cash Cow Asset in an Excellent Alum Rock Location in San Jose
EXECUTIVE SUMMARY
6 High-Quality, Pride-Of-Ownership Units in Alum Rock /San Jose Area.
First Time on Market in 30+ Years/Generational Asset.
4 of 6 Units Have Been Renovated With Updated Kitchens and Bathrooms.
Strong Historical Tenancy: Easy to Lease & Easy to Manage w/ Reliable Cashflow and Rental Upside.
CAP Rate: Current: 4.83%. GRM: Current: 12.2; Market: 9.9.
Shared Courtyard Between 2 Parcels w/ 2 Driveways to Access Parking Spaces.
2 Units to Be Delivered Vacant - Market Rent is $2,200/Month
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.
First Time on Market in 30+ Years/Generational Asset.
4 of 6 Units Have Been Renovated With Updated Kitchens and Bathrooms.
Strong Historical Tenancy: Easy to Lease & Easy to Manage w/ Reliable Cashflow and Rental Upside.
CAP Rate: Current: 4.83%. GRM: Current: 12.2; Market: 9.9.
Shared Courtyard Between 2 Parcels w/ 2 Driveways to Access Parking Spaces.
2 Units to Be Delivered Vacant - Market Rent is $2,200/Month
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.
PROPERTY FACTS
| Price | $1,570,000 | Apartment Style | Low-Rise |
| Price Per Unit | $261,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 4.83% | Building Size | 3,550 SF |
| Gross Rent Multiplier | 12.2 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1958 |
| Property Type | Multifamily | Parking Ratio | 5.63/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R3 | ||
| Price | $1,570,000 |
| Price Per Unit | $261,667 |
| Sale Type | Investment |
| Cap Rate | 4.83% |
| Gross Rent Multiplier | 12.2 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,550 SF |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 5.63/1,000 SF |
| Zoning | R3 |
AMENITIES
UNIT AMENITIES
- Balcony
- Double Vanities
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Carpet
- Double Pane Windows
- Patio
- Vinyl Flooring
SITE AMENITIES
- Courtyard
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 601-06-035 | Improvements Assessment | $238,564 |
| Land Assessment | $112,248 | Total Assessment | $350,812 |
PROPERTY TAXES
Parcel Number
601-06-035
Land Assessment
$112,248
Improvements Assessment
$238,564
Total Assessment
$350,812
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263 La Pala Dr
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