1355 Jefferson St
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1355 Jefferson St
8 Unit Apartment Building $3,600,000 ($450,000/Unit) 4.15% Cap Rate Santa Clara, CA 95050
Investment Highlights
- Four Minute Drive to Santa Clara University
- Turn-Key Asset
- Half Units Have In Unit Washer & Dryer
Executive Summary
The Rubio Group of Marcus & Millichap is pleased to present 1355 Jefferson Street.
1355 Jefferson Street is an eight unit apartment complex, located in Santa Clara, California. The subject property was built in 1957 and consists of approximately 5,472 gross rentable square feet (per county assessor) and sits on an 8,360 square foot lot (per county assessor). This asset boasts an attractive unit mix of six (6) one-bed, one-bath units, and two (2) two-bed, one-bath units. Current ownership has meticulously upgraded the property and offers a new investor fully upgraded interiors including: new kitchens, bathrooms, appliances, cabinets, vinyl flooring and recessed lighting. In addition, four of the units have been upgraded with in-unit washer and dryers, boosting their upside in rental income.
1355 Jefferson Street is located within a four minute drive to Santa Clara University, making it an attractive options for students and teachers alike. This asset will appeal to investors looking for stable in place income within a robust rental market that still gives the opportunity to push the existing rents all the way to market.
1355 Jefferson Street is an eight unit apartment complex, located in Santa Clara, California. The subject property was built in 1957 and consists of approximately 5,472 gross rentable square feet (per county assessor) and sits on an 8,360 square foot lot (per county assessor). This asset boasts an attractive unit mix of six (6) one-bed, one-bath units, and two (2) two-bed, one-bath units. Current ownership has meticulously upgraded the property and offers a new investor fully upgraded interiors including: new kitchens, bathrooms, appliances, cabinets, vinyl flooring and recessed lighting. In addition, four of the units have been upgraded with in-unit washer and dryers, boosting their upside in rental income.
1355 Jefferson Street is located within a four minute drive to Santa Clara University, making it an attractive options for students and teachers alike. This asset will appeal to investors looking for stable in place income within a robust rental market that still gives the opportunity to push the existing rents all the way to market.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,600,000 | Apartment Style | Low Rise |
| Price Per Unit | $450,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 4.15% | Building Size | 5,472 SF |
| Gross Rent Multiplier | 16.17 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 1.28/1,000 SF |
| Price | $3,600,000 |
| Price Per Unit | $450,000 |
| Sale Type | Investment |
| Cap Rate | 4.15% |
| Gross Rent Multiplier | 16.17 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 5,472 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 1.28/1,000 SF |
Unit Amenities
- Microwave
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $2,080 | 625 |
| 2+1 | 2 | $2,800 | 861 |
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Walk Score ®
Very Walkable (86)
Bike Score ®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Number | 269-03-047 | Total Assessment | $2,522,970 |
| Land Assessment | $1,560,600 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $962,370 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
269-03-047
Land Assessment
$1,560,600
Improvements Assessment
$962,370
Total Assessment
$2,522,970
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | R336 |
| R336 |
-
Fred Rubio -
Cassandra Smillie -
Marcus & Millichap
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1355 Jefferson St
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