2955 Neet Ave, San Jose, CA 95128

$10,450,000
20,076
SqFt
List Price
$10,450,000
Closing Date
Feb 08, 2022
MLS#
ML81873768
Status
CONTINGENT
Sqft. of Residence
20,076
Lot Size
36,401
Listing Area
Campbell
Year Built
1963

Property Description

This well-maintained property offers the opportunity to acquire an apartment complex in an ideal rental location. The property features an outstanding unit mix of (18) 2 bedroom/1 bathroom apartments - 860 sf each and (6) 1 bedroom/1 bathroom apartments - 774 sf each. The property is gated and features an attractive courtyard. There is the potential to add a 25th unit as an ADU. There is a large open space on the 2nd floor that is not being utilized. There is an additional area on the 2nd floor that will allow two of the 2+1 apartments to be converted into two 2+2 apartments with in unit laundry. Please see the drawings for these in the offering memorandum. This strong rental location is moments from Santana Row, Valley Fair Mall, Downtown Campbell and is near Highways 280, 17 and Santa Tomas Expressway. The property is also moments away from shopping, schools and parks. A buyer should be able to secure a new loan at 3.15% fixed for 7 years with 3-4 years of interest only payments.

Additional Information

Acres
0.8357
Age
59
Cooling System
None
Foundation
Concrete Perimeter and Slab
Garage Parking
Covered Parking
Heating System
Electric
Laundry Facilities
Coin Operated
Living Area
20,076
Lot Size
36,401
Neighborhood
Campbell
Other Utilities
Individual Electric Meters, Individual Gas Meters
Roof
Composition, Shingle
Sewer
Sewer - Public, Sewer Connected
Special Features
None
Unincorporated Yn
Yes
Zoning
RM

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Justin Bautista from Newmark Cornish & Carey

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