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ASSUMABLE 3.85% FINANCING! This West San Jose 11-unit multifamily offers a rare opportunity for investors and 1031 Exchange candidates seeking a well-maintained asset with CERTAINTY of DURABLE CASH FLOW and TREMENDOUS RENT GROWTH potential in a SUPPLY-CONSTRAINTED area. Projected 5-year rent growth of 33% and upgrading interior units to meet the demands of households within a 5-mile radius with an average annual income of $201,279 offer Significant Valuation Upsides. With the projected rent growth, the projected cap rate is 5.85% and GRM is 12.14. With an excellent unit mix of (2) 2+2 and (9) 1+1, the current average monthly rent is $1995, and the projected market rent is $2294. The Property further benefits from past capital improvements of 6 renovated units. This property boasts an ideal location near major highways, including 280, 85, San Tomas Expy, and Lawrence Expy, as well as major grocery stores like Mitsuwa and Sprouts, and major tech companies like Apple, Netflix, and Nvidia. Call or Email for the Marketing Package!
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Listing Agent: Kyle Chuang | Agent phone: 650-600-1868
Listing Office: Chessboard Capital