Bought with Joel Hopman • Newmark Cornish & Carey
$5,306,000
$5,400,000
1.7%For more information regarding the value of a property, please contact us for a free consultation.
16,452 SqFt
SOLD DATE : 01/19/2018
Key Details
Sold Price $5,306,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 16,452 sqft
Price per Sqft $322
MLS Listing ID ML81672431
Sold Date 01/19/18
HOA Y/N No
Originating Board Datashare MLSListings
Year Built 1963
Lot Size 0.582 Acres
Property Description
Rare opportunity to own 16-units in Milpitas. Incredible unit mix: (4) 1+1, (8) 2+1, (4) 3+2. Spacious units - average over 1,028 square feet each. (4) 4-plexes on 1 large lot. Attractive price/sqft. at $328. Below market rents - Tremendous upside potential. Market GRM: 11.49 and Market Cap Rate: 6.26%. Over 7% Market Cash on Cash return. Convenient rental location: close to freeways, shopping, schools and park. Moments to new BART station and The Great Mall. New dual paned windows. Ample parking - (16) Carports and (12) open stall. Well-maintained buildings. Outstanding long term potential.
Location
State CA
County Santa Clara
Interior
Heating Natural Gas, Wall Furnace
Cooling None
Fireplace No
Appliance Refrigerator
Laundry Coin Operated
Building
Water Public
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