Sold

1299 Leigh Avenue, San Jose, CA 95126

Sqft
30,851
Pool
Yes

View property features, location on map, relevant school information and overview from seller's agent.

Listed byNewmark Cornish & Carey
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Overview

Significantly Improved Pricing! 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 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

Full feature list

Basic info

Property type
Multi-family
Square feet
30,851
Lot size (acres)
1.04
Year built
1971

Exterior features

Pool
Yes

Utilities

Heating
Wall furnace
Cooling
Wall/window unit(s)
Sewer
Public sewer
Water
Public

Estimated monthly costs

Insurance
$29,508

Taxes

Tax Annual Amount
$144,612

Public schools

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Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.

Sourced from: MLSListings (California) MLS®#: ML82024500 Last checked:

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