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Listed by Mitchell Zurich • Marcus & Millichap, DRE#01870648
$4,475,000
Est. payment /mo
3 Beds
2 Baths
10,416 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 10,416 sqft
Price per Sqft $429
MLS Listing ID ML82038375
Bedrooms 3
Full Baths 2
Year Built 1959
Lot Size 0.344 Acres
Property Sub-Type Five or More Units
Property Description
16-UNIT APARTMENT with 7.15% IN-PLACE CAP RATE! The Zurich Group of Marcus & Millichap is pleased to present 2748 Kollmar Drive, a 16-unit apartment community in San Jose with meaningful additional upside. The property features a strong unit mix of (7) 1-bedroom and (9) 2-bedroom units, 20 parking spaces, and on-site laundry. Ownership has invested over $350,000 in renovations, including interior upgrades, new electrical panels in every unit, new building electrical disconnects and panels, exterior and common-area improvements, and a roof installed in late 2020. Located approximately 500 feet from a future VTA station currently under construction, the property offers strong in-place cash flow with additional upside through rent growth, select unit reconfigurations, and an attractive 8.09% pro forma cap rate.
Location
State CA
County Santa Clara
Area Alum Rock
Zoning R-M
Interior
Heating Wall Furnace
Cooling None
Exterior
Parking Features Covered Parking
Utilities Available Other
Roof Type Flat / Low Pitch
Building
Foundation Concrete Perimeter and Slab
Sewer Sewer Connected
Water Water On Site
Others
Restrictions None
Tax ID 488-01-011
Security Features None
Special Listing Condition Not Applicable
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Joel Martinez
Property Connection Specialist | License ID: 02338033
Property Connection Specialist License ID: 02338033