5670 Via Monte Dr
4 Unit Apartment Building $1,675,000 ($418,750/Unit) 3.47% Cap Rate San Jose, CA 95118
INVESTMENT HIGHLIGHTS
- Outstanding investment opportunity located in a sought-after subdivision near Almaden Plaza and Oakridge Mall
- Extensive upgrades: 2023 re-roof, copper re-pipe, and recent San Jose City Inspections passed
- Easy access to Almaden Expressway and Highway 85
- Desirable unit mix: (2) 2BD/2BA and (2) 2BD/1BA units with strong current rents and upside potential
- Near major tech employers including Google, Apple, and Cisco Systems
EXECUTIVE SUMMARY
We are pleased to present the opportunity to acquire 5670 Via Monte Dr, a four (4) unit apartment building located a short walk to Almaden Plaza, Oakridge Mall, Whole Foods and Pioneer Highschool.
Constructed in 1963, the property is one of few in the subdivision that features (2) 2bed2bath units along with (2)2bed1bath units. The property provides spacious private outdoor balconies or patios for all units, with the opportunity to fence off even more.
Notable capital improvements include a 2023 re-roof and a copper re-pipe in the 90s. San Jose City Inspections were recently passed, giving a new owner three years until the next one.
The property features easy access to Almaden Expwy and Highway 85. Finally, the property is surrounded by renowned tech companies including Google, Apple, and Cisco Systems, offering abundant employment opportunities for potential tenants.
Constructed in 1963, the property is one of few in the subdivision that features (2) 2bed2bath units along with (2)2bed1bath units. The property provides spacious private outdoor balconies or patios for all units, with the opportunity to fence off even more.
Notable capital improvements include a 2023 re-roof and a copper re-pipe in the 90s. San Jose City Inspections were recently passed, giving a new owner three years until the next one.
The property features easy access to Almaden Expwy and Highway 85. Finally, the property is surrounded by renowned tech companies including Google, Apple, and Cisco Systems, offering abundant employment opportunities for potential tenants.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | $99,999 | $9.99 |
Vacancy Loss | $99,999 | $9.99 |
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 |
PROPERTY FACTS
Price | $1,675,000 |
Price Per Unit | $418,750 |
Sale Type | Investment |
Cap Rate | 3.47% |
Gross Rent Multiplier | 16.2 |
No. Units | 4 |
Property Type | Multifamily |
Property Subtype | Apartment |
Building Class | C |
Lot Size | 0.17 AC |
Building Size | 3,364 SF |
No. Stories | 2 |
Year Built | 1963 |
Parking Ratio | 1.19/1,000 SF |
UNIT MIX INFORMATION
DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
---|---|---|---|
2+1 | 2 | $2,308 | 815 |
2+2 | 2 | $2,386 | 865 |
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Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
Parcel Number | 567-52-020 | Total Assessment | $460,608 |
Land Assessment | $131,876 | Annual Taxes | ($1) ($0.00/SF) |
Improvements Assessment | $328,732 | Tax Year | 2023 |
ZONING
Zoning Code | RM |