2388 KAREN DR, SANTA CLARA, CA 95050 For Sale

Magnify is pleased to present 2388 Karen Drive, a rare opportunity to acquire a classic value-add apartment community in Santa Clara, one of the most landlord-friendly rental markets in Silicon Valley. Ideally located approximately 2 miles from NVIDIA headquarters and 3 miles from Apple headquarters, the property offers investors an excellent location with significant upside potential in an irreplaceable employment corridor.

Offered for sale for the first time in over 40 years, the building consists of 9,269 building square feet per county records situated on a large 0.37-acre parcel. The property features a desirable unit mix of (8) Two-Bedroom/One-Bath units and (4) One-Bedroom/One-Bath units, catering to a broad tenant base seeking larger floor plans in a premier location. Residents benefit from attractive amenities including dishwashers in every unit, functional and spacious floor plans, and a community swimming pool that enhances tenant appeal and retention.

Ownership has completed several major capital improvements, including a new roof in 2019 and a new water heater installed in 2026. The property also has copper plumbing, low-maintenance hardscaping, and successfully completed its SB-721 balcony inspection.

This asset presents a compelling investment opportunity with over 30% potential upside in rental income through a strategic renovation program and the repositioning of below-market rents. Combining strong in-place cash flow, substantial rental upside, a large land parcel, and a premier location near some of the world's largest technology employers, the property represents a rare opportunity for a high-growth Silicon Valley asset with both immediate and long-term value creation potential.