520-540 Fairview Dr
Gilroy, CA 95020
Multifamily Property For Sale · 8 Units

BUILDINGS MAY BE PURCHASED TOGETHER (1-8plex) OR SEPARATELY (2-4plexes) Elan Multifamily Investments is pleased to offer 520 & 540 Fairview Drive, a non-rent control, 8-unit apartment building in Gilroy, California. This unique 2-parcel / 2-building offering can be purchased together as one 8-unit complex, or separately as a 4-plex. This complex has been completely renovated - inside and out - and shows beautifully with granite counter tops, new interior doors, new interior hardware, new interior lighting, upgraded flooring throughout, upgraded fixtures and finishes, new window coverings, all new appliances, and new interior paint. Residents will delight in the added convenience and comfort of individual air conditioning units, ceiling fans, shower/bathtub combination, onsite laundry and assigned covered carports. An investor will appreciate the improvements to the property that increase overall curb appeal, property value and resident safety such as new patio/balcony railings, exterior doors, exterior hardware, landscaping, newly sealed and striped parking lot, and exterior lighting. Gilroy is located 20 minutes south of San Jose and 30 minutes east of the California beaches in Santa Cruz and Capitola. The location provides multifamily investors with the rare combination of no new approved market rent multifamily thru 2019, strong historical occupancy and rent increase levels. Additional economic growth will be generated by the recently approved Gilroy High-Speed rail station (also to be serviced by Caltrain) with a Planning Agreement in place, for completion 2029. There are two locations being assessed for the station: downtown Gilroy and on the East side of 101 near the shopping Outlets. With multiple dynamic development plans currently in process, there has never been a better time to add 520 & 540 Fairview to your investment portfolio.