Azure Apartments 420-450 Broadway

Azure Apartments is a stunning 16-unit apartment complex located in the heart of Gilroy, CA.
Situated on a 34,000 square foot parcel of land, the subject property was originally constructed in 1958 and has a gross building area of approximately 11,526 square feet, offering its tenants beautifully designed two-bedroom and one-bedroom floor plans. The subject property offers a range of desirable tenant amenities, including individual fireplaces and private yards in select units, as well as private covered parking. Each unit is equipped with a separate water heater and its own PG&E meter, ensuring convenience and independence for residents.
Azure Apartments presents investors with a rare opportunity to acquire an exceptional asset in the thriving city of Gilroy. The subject property is located just 1.4 Miles from The Premium Gilroy Outlets, right off Highway 101. The Premium Gilroy Outlets house 145 different outlet stores, attracting savvy shoppers and tourists from all over the Bay Area. The subject property is also walking distance from the Town Plaza Shopping Center, home to a myriad of dining, shopping, and entertainment. Other nearby Gilroy attractions include the Annual Gilroy Garlic Festival and the Gilroy Gardens theme park, both racking in visitors from all over the US.
Azure Apartments prime location also offers tenants convenient access to major transportation corridors including Highway 101, CA-25 and CA-152. Gilroy’s close proximity to these fundamental roads offers South Bay Area commuters a quick connection to Watsonville, Salinas, and Monterey areas.
The investment appeal of this asset is driven by Gilroy’s strong employment fundamentals, and low vacancy levels. With a world class location in the heart Gilroy, Azure Apartments presents an attractive investment opportunity for investors due to its easy accessibility to the Bay Area and the nation’s top employers within it.