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Pinnacle Realty Advisors

support@pinnaclera.com +1(972) 338-5441

Listed by Joel Hopman • Newmark Cornish & Carey

$ 11,350,000

Est. payment -/mo

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Open Thu 1AM-1PM

1299 Leigh AVE San Jose, CA 95126

10 Beds

7 Baths

30,851 SqFt

Open House

Thu Oct 16, 1:00am - 1:00pm

Tue Oct 21, 11:00am - 1:00pm

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 30,851 sqft

Price per Sqft $367

MLS Listing ID ML82024500

Style Spanish

Bedrooms 10

Full Baths 7

Year Built 1971

Lot Size 1.040 Acres

Property Sub-Type Five or More Units

Source MLSListings, Inc.

Property Description

Built in 1971, the Mission Villa Apartments offers a rare unit mix and variety of amenities not commonly found in a 36-unit community. The thoughtfully designed and oversized 705 sq. ft. one bedroom on baths, 850 sq. ft. 2 bedroom 2 baths, and 1,150+ sq ft. three bedroom two baths units offer in-wall A/C, dishwashers and disposals, and either private patios or balconies. The attractive Spanish-Style architecture property boasts a heated swimming pool and spa, BBQ area, recreation room, fitness center and an adjoining sauna with shower and restrooms. The Mission Villa Apartments provides a compelling value-add investment opportunity, with upside through both interior and common area renovations combined with mark-to-market benefit. While current ownership has maintained the asset well and renovated select units, the groundwork is laid to expand the unit modernization program to compete with nearby higher-end communities. Additional operational upside can be captured via loss to lease upside, contemporization of existing amenities, or conversion to add multiple additional rental units. Tenants benefit from proximity to the 11-mile Los Gatos Creek Trail, retail and restaurant options of The Pruneyard, Santana Row and Downtown Campbell, and world-class employers.

Location

State CA

County Santa Clara

Area Central San Jose

Zoning R3H

Interior

Heating Wall Furnace

Cooling Window / Wall Unit

Laundry Coin Operated, Washer / Dryer

Exterior

Parking Features Assigned Spaces, Uncovered Parking

Garage Spaces 32.0

Pool Pool - Heated, Spa / Hot Tub

Utilities Available Individual Electric Meters, Public Utilities

Roof Type Tile

Building

Foundation Concrete Perimeter

Sewer Sewer - Public

Water Public

Architectural Style Spanish

Others

Tax ID 284-24-011

Special Listing Condition Not Applicable

Pinnacle Realty Advisors

1299 Leigh AVE San Jose, CA 95126

Open House

Key Details

Location

Interior

Exterior

Building

Others

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1299 Leigh AVE