Listed by Marcus & Millichap - Palo Alto
$1,750,000
50 Cleveland Avenue
Details
APN 274-17-083
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,761
Units 8
Cap Rate 6.09%
NOI $106,601
Occupancy 97%
Tenancy Multi
Pro-Forma Cap Rate 7.52%
Pro-Forma NOI $131,656
Price per SqFt $465
Year Built 1957
Acreage 0.130
Investment Type Stabilized
Ownership Fee Simple
Multifamily | 8 Units | $218,750/unit
Marketing description
8-unit multifamily property located at 50 Cleveland Avenue, San Jose, CA.
Investment highlights
- Eight (8) one-bedroom / one-bathroom apartment units
- Exempt from the City of San Jose Apartment Rent Ordinance
- Located in the desirable Burbank neighborhood of unincorporated Santa Clara County
- Excellent access to Santana Row, Valley Fair, Downtown San Jose, and major commute corridors
- Strong Silicon Valley rental demand driven by nearby major tech employers
- Potential for future rental upside through strategic interior and exterior improvements
Listing Contacts
Listed by Marcus & Millichap - Palo Alto
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$106,601.00
$8,883.42/mo
Valuation Metrics
0
DSCR
6.09%
Cap Rate
6.09%
ROI
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