The Cerna Group is pleased to exclusively offer Emerald Court, this non-rent controlled, single-story, 10-unit complex located on a single parcel at 8051 & 8061 Church Street, in Gilroy, California.
Emerald Court offers an investor an apartment complex where 9 out of 10 units have been recently renovated, featuring new in-wall air conditioning units for comfort, and upgraded kitchens and baths. The community offers residents an inviting area with BBQ and basketball hoop, and individual garages. The 40-year composition roof was replaced (complete tear-off) and new exterior paint completed in 2010.
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 Emerald Court to your investment portfolio.
