Part of a 3-building portfolio- marketing packages available. CAP rate: 4.32% Current / 5.14% Potential. 611 San Luisito Way is a wonderful 13-unit apartment community with 1 (3-Bed/1-Bath), 9 (2-Bed/1-Bath), 3 (1-Bed/1-Bath) units. A tranquil courtyard with mature landscaping and swimming pool creates a garden style feel to the property. Recent capital improvements of over $350,000. 11 of 13 units remodeled. Copper piping and dual pane windows throughout. New electric main panel and subpanels, backflows, pool equipment, paint, roof work, and more. Strategically located near VTA, Caltrain, and Highway 101. Opportunity to add further value by increasing income and continuing the repositioning of the property to the preferences of Silicon Valley technology employees. The shortage of housing units, rent growth, and proximity to large Silicon Valley employers make it a great opportunity for both the cash flow and appreciation-minded investor.
Listing courtesy of Ismael Benhamida from Marcus & Millichap
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