CA > Hollister
Hollister, CA 95023,711 South ST
Hollister, CA 95023,711 South ST
Hollister, CA 95023,711 South ST
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$11,995,000
Est. payment /mo
1.95 Acres Lot
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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML81999438

HOA Y/N No

Year Built 1974

Annual Tax Amount $145,552

Lot Size 1.950 Acres

Property Description

Investment opportunity offered at a 5.73% cap rate on in-place PLUS upside. Hollister Hacienda offers investors a unique opportunity to acquire an extensively renovated, well performing apartment complex strategically located in close proximity to Silicon Valley. With San Jose just a 35-45 minute commute, residents take advantage of the fact that housing costs in Hollister are approximately 40-45% less than Santa Clara County. Strong unit mix: (33) 2 bed/1 bath, (8) 3 bed/2 bath and (2) studios. Hollister is a perennially tight housing market, and there are no market-rate multifamily projects slated for development. The complex has undergone significant improvements to the exterior and all 43 unit interiors, resulting in low maintenance costs and an enhanced living experience for tenants. Very few other complexes in San Benito County offer the same large unit square footage, spacious low-density footprint, favorable on-site parking ratio, and mix of complementary amenities. Realistic upside in income potential exists for future ownership: 1) upside in rents 2) possibility of building up to 10 ADUs 3) addition of in-unit laundry to 2 bedroom units 4) utility billing and/or submetering 5) upside in parking, pet and storage income. Great agency debt quote available.

Location

State CA

County San Benito

Area 699 - Not Defined

Zoning AP

Interior

Heating Wall Furnace

Fireplace No

Exterior

Roof Type Flat,Mansard

Total Parking Spaces 62

Building

Water Public

Schools

School District Other

Others

Tax ID 055030023000

Special Listing Condition Standard

Read Less Info
CRMLS – RECore
Listed by Joe Budka Redwood Property Company

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