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$ 11,800,000
Est. payment /mo
New
256 La Pala DR San Jose, CA 95127
1.69 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82026378
HOA Y/N No
Year Built 1960
Annual Tax Amount $163,365
Lot Size 1.690 Acres
Property Description
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.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning R3
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Carport Spaces 43
Roof Type Flat
Building
Water Public
Schools
School District Other
Others
Tax ID 60106042
Special Listing Condition Standard
Listed by Jefrey Henderson Jefrey Henderson, Broker