2991-3001 Magliocco DR, San Jose, CA 95128
- $7,600,000
- 16,962
- SqFt
- Sold Price
- $7,600,000
- List Price
- $7,800,000
- Closing Date
- Jun 07, 2021
- MLS#
- ML81825743
- Status
- SOLD
- Property Type
- com
- Sqft. of Residence
- 16,962
- Lot Size
- 28,069
- Listing Area
- Campbell
- Year Built
- 1959
Property Description
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.
Additional Information
- Acres
- 0.64
- Age
- 62
- Building Name
- Magliocco Manor
- Cooling System
- None
- Energy Features
- Double Pane Windows
- Floor Covering
- Carpet, Laminate, Tile, Vinyl / Linoleum
- Foundation
- Concrete Perimeter and Slab
- Garage Parking
- Assigned Spaces, Covered Parking
- Heating System
- Gas, Wall Furnace
- Laundry Facilities
- Coin Operated, Washer / Dryer
- Living Area
- 16,962
- Lot Size
- 28,069
- Neighborhood
- Campbell
- Other Utilities
- Individual Electric Meters, Individual Gas Meters
- Roof
- Composition, Shingle
- Sewer
- Sewer - Public, Sewer Connected
- Special Features
- None
- Zoning
- RM
Mortgage Calculator
Listing courtesy of Justin Bautista from Newmark Cornish & Carey. 650-996-9384
Selling Office: NEWCC.
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