1661 Alum Rock Ave
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1661 Alum Rock Ave
8 Unit Apartment Building $5,176,080 CAD ($647,010 CAD/Unit) 6.70% Cap Rate San Jose, CA 95116
Investment Highlights
- All units have undergone some renovations
- Double Pane Windows at Apartment Units
- Opportunity to add multiple ADU's on large -0.50 acre parcel
- Years of useful life left in apartment roof
Executive Summary
1661-63 Alum Rock Ave offers investors the opportunity to acquire a cash-flowing asset with value-add capabilities. The current units produce over $300,000 is current gross rents. In addition, the massive ~.50 acre site is perfect for adding multiple ADUs by removing the the parking carport and utilizing the ample surplus of parking (contact city of San Jose for details). With the addition of the ADUs a double cap rate is attainable!
Property Facts
| Price | $5,176,080 CAD | Building Class | C |
| Price Per Unit | $647,010 CAD | Lot Size | 0.45 AC |
| Sale Type | Investment | Building Size | 7,850 SF |
| Cap Rate | 6.70% | No. Stories | 1 |
| No. Units | 8 | Year Built | 1949 |
| Property Type | Multifamily | Parking Ratio | 0.94/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $5,176,080 CAD |
| Price Per Unit | $647,010 CAD |
| Sale Type | Investment |
| Cap Rate | 6.70% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 7,850 SF |
| No. Stories | 1 |
| Year Built | 1949 |
| Parking Ratio | 0.94/1,000 SF |
| Opportunity Zone |
Yes |
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 1,998 |
| 1+1 | 7 | - | 771 |
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Walk Score ®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 481-12-070 | Improvements Assessment | $623,648 CAD |
| Land Assessment | $1,404,250 CAD | Total Assessment | $2,027,897 CAD |
PROPERTY TAXES
Parcel Number
481-12-070
Land Assessment
$1,404,250 CAD
Improvements Assessment
$623,648 CAD
Total Assessment
$2,027,897 CAD
zoning
| Zoning Code | 1663 - CG, 1661 - C3H |
| 1663 - CG, 1661 - C3H |
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1661 Alum Rock Ave
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