2991 3001 Magliocco Dr

San Jose, CA, 95128

$7,800,000

$459 per ft²
$7,800,000
$459 per ft²
Under Contract
Under Contract
carpenters-square
16,962 ft²
property_type
Multi-family
calendar
Built 1959
Magliocco Manor is an excellent opportunity for a buyer to acquire a quality investment property in and ideal rental location. 16 of the 24 units have been upgraded. The units are spacious and average over 700 sf each. The complex has new dual paned windows, copper plumbing and new carport roofs. The property consists of (2) 12-unit complexes on adjacent parcels. Does not require an on-site manager. Buyer can secure 2 individual loans and sell off properties individually in the future. Unit mix: (18) 1+1 and (4) 2+1. Large common courtyard. Strong in-place rents with upside potential. Market GRM: 13.03 and Market Cap Rate: 5.06%. Outstanding rental location - walking distance to Santana Row & Valley Fair Mall. Convenient to highways 280 and 880. Many large office complexes nearby. Incredible financing available - quotes 7 year fixed at 3.35% with 3 years of interest only payments.
MLS ID:
ML81825743
Listed:
1/14/21
Updated:
3/7/21

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Floor Description
Carpet, Laminate, Tile, Vinyl / Linoleum
Cooling
None

Exterior/Building Features

Lot Size
0.64 acres lot
Exterior Features
BBQ Area, Courtyard, Sprinklers - Lawn
Roof
Composition, Shingle
Sewer
Sewer - Public, Sewer Connected

School Information

School District
Campbell Union Elementary

Other Property Details

Area Name
Campbell
HOA Amenities
BBQ Area, Common Utility Room
Attached Garage
Yes
Parking
Assigned Spaces, Covered Parking
County
Santa Clara
Utilities
Individual Electric Meters, Individual Gas Meters
Water Source
Public
Zoning
RM

Property History

Date
Event
Price
Value
2/5/21
Under Contract
-
-

 

Courtesy of Justin Bautista, Newmark Cornish & Carey

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Data last updated 8:37 PM UTC, 3/7/21

 

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