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.
- Price:
- $7,800,000
- Square Footage:
- 16,962
- Acreage:
- 0.64
- Year Built:
- 1959
- Listing ID #:
- ML81825743
- Street Address:
- 2991-3001 Magliocco Drive
- City:
- San Jose
- State:
- California
- Postal Code:
- 95128
- County:
- Santa Clara
- Community:
- All Other Counties/States
- Listing Status:
- Pending Show For Backups
- Age Of Dwelling:
- 62
- Flooring:
- Laminate, Tile
- Siding:
- Dual Pane Windows
- Total Building Square Footage:
- 16962
- Type Of Roof:
- Composition Shingles
- Year Built:
- 1959
- Annual Income:
- 559596
- Annual Utility Expenses:
- 20667
- Expenses:
- Electric, Gas, Insurance, Maintenance/Repair, Trash Removal, Vacancy Factor, Water
- Net Operating Income:
- 357479
- Conforms To Zoning:
- Rm
- Lot Square Footage:
- 28069
- For Sale Or Lease?:
- For Sale
- Property Taxes:
- $105,687
- Tenant Pays:
- Electric, Gas
- Parking Description:
- Covered Parking, Spaces - Assigned
- Heating:
- Gas, Wall Furnace
- Laundry:
- Coin Operated
- Sewage Type:
- Sewer System - Public, Water - Public
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.
Your Payment
$1,400/mo
Source: CINC
- Listing Provided By Justin Bautista of Newmark Cornish & Carey (CA DRE#: 01268331)
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