Joseph Avenue | 2856 Joseph Ave
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Joseph Avenue 2856 Joseph Ave
8 Unit Apartment Building $3,374,341 CAD ($421,793 CAD/Unit) 4.58% Cap Rate Campbell, CA 95008
INVESTMENT HIGHLIGHTS
- Location near Bascom Ave retail and the Pruneyard shopping with access to Hwy 880 north and Hwy 17 south.
- Property provides long term tenancy tenants.
- First time on market in many years.
- Rent Income consistant
- Seller will cooperate in 1031 or Starker tax exchange by the Buyer at Buyer expense
EXECUTIVE SUMMARY
First time on market in many years. Property provides long term tenancy tenants. Income flow is steady. Low vacancy to the complex. Rents quickly if a vacancy happens. Rents go up 5% per year on average. Current cap rate is 4.8% and the gross multiplier is 13.8. Well priced for the next Owner.
Do Not disturb the occupant tenants. Make offer subject to buyer visual inspection. Drive by only. Seller will cooperate in 1031 or Starker tax exchange by the Buyer at Buyer expense. Price correctly. No disclosures until a deal is made. SB 321 may need attention however at this price you have a nice deal.
Do Not disturb the occupant tenants. Make offer subject to buyer visual inspection. Drive by only. Seller will cooperate in 1031 or Starker tax exchange by the Buyer at Buyer expense. Price correctly. No disclosures until a deal is made. SB 321 may need attention however at this price you have a nice deal.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$238,610
|
$46.31
|
| Other Income |
$2,872
|
$0.56
|
| Vacancy Loss |
$1,292
|
$0.25
|
| Effective Gross Income |
$240,190
|
$46.62
|
| Taxes |
$29,867
|
$5.80
|
| Operating Expenses |
$48,820
|
$9.48
|
| Total Expenses |
$78,687
|
$15.27
|
| Net Operating Income |
$161,503
|
$31.35
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $238,610 |
| Annual Per SF | $46.31 |
| Other Income (CAD) | |
|---|---|
| Annual | $2,872 |
| Annual Per SF | $0.56 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $1,292 |
| Annual Per SF | $0.25 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $240,190 |
| Annual Per SF | $46.62 |
| Taxes (CAD) | |
|---|---|
| Annual | $29,867 |
| Annual Per SF | $5.80 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $48,820 |
| Annual Per SF | $9.48 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $78,687 |
| Annual Per SF | $15.27 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $161,503 |
| Annual Per SF | $31.35 |
PROPERTY FACTS
| Price | $3,374,341 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $421,793 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 4.58% | Building Size | 5,152 SF |
| Gross Rent Multiplier | 17 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.55/1,000 SF |
| Price | $3,374,341 CAD |
| Price Per Unit | $421,793 CAD |
| Sale Type | Investment |
| Cap Rate | 4.58% |
| Gross Rent Multiplier | 17 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 5,152 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.55/1,000 SF |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Heating
- Eat-in Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
SITE AMENITIES
- Laundry Facilities
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | $2,728 CAD | 630 |
| 2+1 | 2 | $3,374 CAD | 720 |
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Walk Score®
Very Walkable (76)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 414-05-007 | Total Assessment | $1,933,905 CAD (2023) |
| Land Assessment | $879,048 CAD (2023) | Annual Taxes | $29,867 CAD ($5.80 CAD/SF) |
| Improvements Assessment | $1,054,858 CAD (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
414-05-007
Land Assessment
$879,048 CAD (2023)
Improvements Assessment
$1,054,858 CAD (2023)
Total Assessment
$1,933,905 CAD (2023)
Annual Taxes
$29,867 CAD ($5.80 CAD/SF)
Tax Year
2024
ZONING
| Zoning Code | RM |
| RM |
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Joseph Avenue | 2856 Joseph Ave
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