336 N 5th Street | San Jose
San Jose, CA 95112
Sq. Feet 10,018
The subject property, located at 497 Leigh Avenue, is a beautiful garden-style community located in the heart of the thriving city of San Jose, California.
The property consists of eight spacious one-bedroom/one-bathroom units that are not under the San Jose rent control ordinance. Leigh Avenue has been completely remodeled inside and out over the past year. The exterior renovation includes new landscaping with drought resistant plants and palm trees on a drip watering system, elegant new paver stone between the sidewalk and curb, new doors, screen doors and entry locks in most units, newly resurfaced driveways and walkways, and a new attractive two-tone exterior paint scheme. The property is located near major employers including HP, Kaiser Permanente,
The Buena Vista Park is also just two blocks away. The downtown areas of San Jose offer countless restaurants and boutique retail and entertainment options. The property is well positioned for future NOI growth given its location, amenities, the perpetual housing constraints in the market and the continued economic upturn in Silicon Valley.
Cap Rate: 6.01% NOI: $80,951 Livable Sq. Ft: 4,160
Built in 1957 8 units Lot Sq. Ft: 6,098