256 La Pala Dr - Apartments FOR SALE


San Jose, CA 95127- East San Jose
$12,198,000 USD
510-304-8077
256 La Pala Dr, San Jose, CA for Sale
$12,198,000 USD
Apartments - FOR SALE
1/22
null | 5.67% Cap Rate

256 La Pala Dr
San Jose, CA 95127
East San Jose


HIGHLIGHTS

  • Investors have the opportunity to acquire an exceptional multifamily asset in one of the most dynamic and desirable rental markets in the South Bay.
  • Country Club Garden Apartments has recently completed the installation of a new LG solar energy system.
  • This upgrade features new Siemens main electrical panels, and a new 32.16kW LG solar system, and new carport roofs.
  • The subject property has undergone extensive capital improvements such as a new white membrane roof, upgraded courtyard stairs.
  • A remodeled front entrance and facade, and a renovated laundry room with a modern mobile payment system.
  • The subject property offers tenants convenient community amenities such as private covered parking, a community pool, and an on-site laundry facility.

OVERVIEW

Country Club Garden Apartments is an exceptional 38-unit apartment community located in a quiet cul-de-sac in San Jose's East Foothills. Situated on a parcel of land totaling 1.69 acres, the subject property features a gross building area of approximately 32,000* square feet, offering tenants beautifully designed two-bedroom and one-bedroom floor plans. Additionally, tenants enjoy convenient community amenities such as private covered parking, a community pool, and an on-site laundry facility. Country Club Garden Apartments has undergone extensive capital improvements such as extensive repiping featuring copper water pipes, new dual-pane windows, new roof membrane, remodeled laundry room. Additionally, the subject property has recently completed the installation of a new solar energy system. This upgrade features new Siemens main electrical panels, a new 32.16kW LG solar system, and new carport roofs. Total capital expenditures for this project exceed $300k. Country Club Garden Apartments is within walking distance to the Target anchored Capitol Square Mall, home to a myriad of dining, shopping, and entertainment options. The subject property also boasts convenient access to the San Jose Mineta International Airport (SJC). SJC is one of the busiest airports in all of Northern California serving millions of passengers every year to both domestic and international destinations. The investment appeal of this asset is driven by San Jose’s strong employment fundamentals and low vacancy levels. With a world-class location in the Silicon Valley, Country Club Garden Apartments presents an attractive choice for South Bay renters due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.

FOR SALE DETAILS

PRICE

$12,198,000 USD

PRICE/SF

$432 USD /SF

# OF UNITS

38

PRICE/UNIT

$321,000

CAP RATE

5.67%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Country Club Garden Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

42

LAND DETAILS

LAND ACRES

1.69 AC

LAND SF

73,616 SF

ZONING

R3, San Jose

APN/PARCEL ID

601-06-042

ASK ABOUT THIS PROPERTY

Robert JohnstonLevin JohnstonMore Info
510-304-8077

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Robert JohnstonLevin JohnstonMore Info
510-304-8077

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.