CA > San Jose
San Jose, CA 95126,1299 Leigh AVE
San Jose, CA 95126,1299 Leigh AVE
San Jose, CA 95126,1299 Leigh AVE
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$11,350,000
Est. payment /mo
1.04 Acres Lot
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Open House

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

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

UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML82024500

HOA Y/N No

Year Built 1971

Annual Tax Amount $153,595

Lot Size 1.040 Acres

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 699 - Not Defined

Zoning R3H

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Carport Spaces 24

Roof Type Tile

Total Parking Spaces 32

Building

Water Public

Schools

School District Other

Others

Tax ID 28424011

Special Listing Condition Standard

Read Less Info
CRMLS – RECore
Listed by Joel Hopman Newmark Cornish & Carey

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