Comm Ri Multi-units 5+ For Sale
16,962 Sqft - 2991-3001 Magliocco Drive, SAN JOSE, California 95128
Property Description
Magliocco Manor is an excellent opportunity for a buyer to acquire a quality investment property in and ideal rental location. 16 of the 24 units have been upgraded. The units are spacious and average over 700 sf each. The complex has new dual paned windows, copper plumbing and new carport roofs. The property consists of (2) 12-unit complexes on adjacent parcels. Does not require an on-site manager. Buyer can secure 2 individual loans and sell off properties individually in the future. Unit mix: (18) 1+1 and (4) 2+1. Large common courtyard. Strong in-place rents with upside potential. Market GRM: 13.03 and Market Cap Rate: 5.06%. Outstanding rental location – walking distance to Santana Row & Valley Fair Mall. Convenient to highways 280 and 880. Many large office complexes nearby. Incredible financing available – quotes 7 year fixed at 3.35% with 3 years of interest only payments.
Basic Details
Property Type : Comm Ri Multi-units 5+
Listing Type : For Sale
Listing ID : ML81825743
Price : $7,800,000
Bedrooms : 0
Bathrooms : 0
Half Bathrooms : 0
Square Footage : 16,962 Sqft
Year Built : 1959
Lot Area : 0.64 Sqft
Features
Heating System : Gas, Wall Furnace
Roof : Composition Shingles
Address Map
Country : US
State : CA
County : Santa Clara
City : SAN JOSE
Zipcode : 95128
Street : Magliocco Drive
Street Number : 2991-3001
Floor Number : 0
Longitude : W122° 3' 8.9''
Latitude : N37° 18' 46.3''
MLS Addon
Office Name : Newmark Cornish & Carey
Building Type : Other
Area : All Other Counties/States
Address : 2991-3001 Magliocco Drive
Cross Street : Winchester Boule
LA1User Code : MLL5066982
LA1Agent First Name : Justin
LA1Agent Last Name : Bautista
Status Category : Sold
Tot # Parking Spaces : 0
Tot # of Units : 24
Zoning : RM
List $/SqFt : $0
Age : 62
Apx Lot Sq Ft : 28,069 Sqft
Type of Building : Apt Complex
Annual Taxes : $105,687
Total Deposits : $0
ALL UNITS HAVE : Refrigerator
EXTERIOR : Dual Pane Windows
FLOORING : Tile, Laminate
ON-SITE PARKING DESC : Covered Parking, Spaces - Assigned
OPERATING EXPENSES : Electric, Gas, Insurance, Maintenance/repair, Trash Removal, Vacancy Factor, Water
SOME UNITS HAVE : Updated Baths, Updated Kitchen, Dishwasher
TENANT PAYS : Electric, Gas
WATER/SEWER : Water - Public, Sewer System - Public
LAUNDRY : Coin Operated
Bus Sq Ft of Bldg : 0 Sqft
Other Loans (Y/N) : No
1st Loan Balance : $0
2nd Loan Balance : $0
Tot Other Loans : $0
Financial Data Verif(Y/N) : 4.58
Ann Act Gross Inc : $0
Gross Oper Actual Inc : $0
Listing Type : Excl Right
Listing Service : Full Service
Special Information : None
Original Price : $7,800,000
Sold Price : $7,600,000
Previous Price : $0
Sale $/SqFt : $0
Gross Oper Actual Inc : 0
Annual Gross Sched Inc : 559596
Net Oper Income : 357479
Annual Mgmt Exp : 0
Annual License Exp : 0
Annual Util Exp : 20667
Other Ann Exp : 0
Tot Ann Oper Exp : 0
First Loan Payment : 0
First Balance : 0
Annual Insurance Exp : 0
INTERNET DISPLAY : 0
INTERNET SITES : 0
SA1Agent Type : 0
Gross Rent Multiplier : 13.94
Buyer Agent DRE Num. : 01268331
List Agent DRE Num. : 01268331
Filtered Address : 2991-3001 Magliocco DR
LA1Agent License ID : 01268331
LA1Old Agent ID : 306597
SA1Agent First Name : Justin
SA1Agent Last Name : Bautista
SA1Agent License ID : 01268331
SA1User Code : MLL5066982
SA1Old Agent ID : 306597
Annual Vacancy : 0
Gross Income : 0
Sale/Original $ : 0
Annual Exp Yr : 0
Sale $/SqFt : 0
1st - Yrs Remaining : 0
Sale/Last List $ : 0
Interest Rate : 0
Board ID : Datashare MLSListings
Assessors Parcel No : 279-07-032
Showing : Do Not Disturb Occupants,Subject to Inspection
SO1Office Abbreviation : MLL5009335
SO1Office Name : Newmark Cornish & Carey
LO1Main Office ID : 76108
LO1Board ID : 0
LO2Office Identifier : 0
LO2Main Office ID : 0
SO1Office Identifier : 76108
SO1Board ID : 0
SO2Office Identifier : 0
SO2Office Type : 0
VOW Include : Yes
VOW Address : Yes
VOW Comment : Yes
VOW AVM : Yes
Status Detail : 0
Search Price : 7600000
Address Search Number : 2991
Listing Agent : 281553
Listing Office : 76108
Co-List Agent : 0
Listing Office 2 : 0
Apprx Equity : 0
Buyer Agent 1 : 281553
Buying Office 1 : 76108
Co-Sell Agent : 0
Buying Office 2 : 0
Photo Count : 21
Input Date : 14/01/2021 16:32:53
Update Date : 08/06/2021 10:02:22
PhotoTimestamp : 08/06/2021 05:24:59
First Photo Add Timestamp :
List Date : 14/01/2021
Expire Date :
Pending Date : 04/02/2021
Closing Date : 07/06/2021
Status Date : 07/06/2021
Price Date :
Off Market Date : 04/02/2021
Status : Sold
Dual Variable : No
HOA : No
City Transfer Tax : Yes
Off Market Status Date :
LVT Date :
DOMLS : 21
Cumulative DOMLS : 21
Unit # 1 # of Bedrooms: 1
Unit # 1 Approx. SqFt: 650
Unit # 1 Rent: 1556
Unit # 2 # of Bedrooms: 2
Unit # 2 Approx. SqFt: 800
Unit # 2 Rent: 2195
