Regency Towne Apartments | 1136 Brace Ave
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Regency Towne Apartments 1136 Brace Ave
15 Unit Apartment Building $6,000,000 ($400,000/Unit) 4.57% Cap Rate San Jose, CA 95125
INVESTMENT HIGHLIGHTS
- Prime Location: One block from Downtown Willow Glen
- Diverse Unit Mix: Catering to various tenant needs with a mix of 1-bedroom and 2-bedroom units
- On-Site Laundry: Convenience for tenants and an additional source of income for property owners
- Established Property: Well-maintained building with a solid rental history
- Income Generation: Pool and covered parking amenities enhance tenant satisfaction and rental income potential
- Immediate cash flow and long-term appreciation potential in Willow Glen’s thriving real estate market.
EXECUTIVE SUMMARY
Located just steps away from downtown Willow Glen, 1136 Brace Avenue in San Jose is a rare investment opportunity with strong market fundamentals. This multi-family building was built in 1966 and is now on the market for the first time in over a twenty years.
Comprising fifteen (15) units, the property features amenities such as a pool, covered parking, and on-site coin-operated laundry facilities, catering to tenant needs and enhancing rental income potential. With its stable rental history and potential for value-add through strategic upgrades, investors can benefit from immediate cash flow and long-term appreciation potential in Willow Glen’s thriving real estate market.
Comprising fifteen (15) units, the property features amenities such as a pool, covered parking, and on-site coin-operated laundry facilities, catering to tenant needs and enhancing rental income potential. With its stable rental history and potential for value-add through strategic upgrades, investors can benefit from immediate cash flow and long-term appreciation potential in Willow Glen’s thriving real estate market.
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$406,008
|
$28.08
|
| Other Income |
$1,363
|
$0.09
|
| Vacancy Loss |
$8,120
|
$0.56
|
| Effective Gross Income |
$399,251
|
$27.62
|
| Taxes |
$72,000
|
$4.98
|
| Operating Expenses |
$78,620
|
$5.44
|
| Total Expenses |
$150,620
|
$10.42
|
| Net Operating Income |
$248,631
|
$17.20
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $406,008 |
| Annual Per SF | $28.08 |
| Other Income | |
|---|---|
| Annual | $1,363 |
| Annual Per SF | $0.09 |
| Vacancy Loss | |
|---|---|
| Annual | $8,120 |
| Annual Per SF | $0.56 |
| Effective Gross Income | |
|---|---|
| Annual | $399,251 |
| Annual Per SF | $27.62 |
| Taxes | |
|---|---|
| Annual | $72,000 |
| Annual Per SF | $4.98 |
| Operating Expenses | |
|---|---|
| Annual | $78,620 |
| Annual Per SF | $5.44 |
| Total Expenses | |
|---|---|
| Annual | $150,620 |
| Annual Per SF | $10.42 |
| Net Operating Income | |
|---|---|
| Annual | $248,631 |
| Annual Per SF | $17.20 |
PROPERTY FACTS In Escrow
| Price | $6,000,000 | Building Class | C |
| Price Per Unit | $400,000 | Lot Size | 0.56 AC |
| Sale Type | Investment | Building Size | 14,457 SF |
| Cap Rate | 4.57% | Average Occupancy | 100% |
| No. Units | 15 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 1.38/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $6,000,000 |
| Price Per Unit | $400,000 |
| Sale Type | Investment |
| Cap Rate | 4.57% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.56 AC |
| Building Size | 14,457 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 1.38/1,000 SF |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Storage Space
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Yard
- Garden
- Patio
- Window Coverings
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Pool
- Storage Space
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | $1,913 | 783 |
| 2+1.5 | 6 | $2,625 | 1,122 |
| Studios | 1 | $1,491 | 596 |
| 2+2 | 2 | $3,172 | 1,122 |
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Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $4,577,516 (2023) | |
| Land Assessment | $1,085,551 (2023) | Annual Taxes | $72,000 ($4.98/SF) |
| Improvements Assessment | $3,491,965 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,085,551 (2023)
Improvements Assessment
$3,491,965 (2023)
Total Assessment
$4,577,516 (2023)
Annual Taxes
$72,000 ($4.98/SF)
Tax Year
2024
ZONING
| Zoning Code | R-3, San Jose (Residential, Multi-Family) |
| R-3, San Jose (Residential, Multi-Family) |
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Regency Towne Apartments | 1136 Brace Ave
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