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Multifamily

48 Lester Ave

48 Lester Ave, San Jose, CA 95125

Listing Price: $4,048,000

Cap Rate
4.00%

Investment Overview

48 Lester Ave is an exceptional 9-unit apartment complex located in the thriving city of San Jose, California. Situated on a parcel of land totaling 9,750 square feet, the subject property was originally constructed in 1959 and features a gross building area of approximately 6,870 square feet, offering tenants and residents beautifully designed one-bedroom, two-bedroom, and three-bedroom floor plans featuring modern unit amenities, such as hardwood style flooring and updated kitchens, granite countertops, stainless-steel appliances and updated bathrooms. In addition, the subject property has recently undergone significant capital improvements such as a complete re-piping with copper plumbing, a brand new roof, all new electrical, and a new main line. 48 Lester Ave rests in the thriving neighborhood of Willow Glen, within walking distance to Downtown Willow Glen. Known as “San Jose’s Local Treasure” Willow Glen is one of the most expensive areas to live in San Jose, boasting a historic downtown district. The subject property is also nearby Downtown San Jose, and the San Jose International Airport. SJC is one of the busiest airports in all of California flying millions of passengers every year. Additionally, the subject property sits near San Jose State University and the historic Santa Clara University, ranked 54th nationally for undergrad and 11th nationally for the executive MBA program, based on US News & World Report Rankings. As part of Silicon Valley, this location also offers renters quick access to many of the nation’s top tech employers, including Apple, Google, Tesla, Facebook, IBM, Intel, Yahoo, Cisco Systems, Adobe Systems, LinkedIn as well as many others. The investment appeal of this asset is driven by San Jose’s strong employment fundamentals and low vacancy levels. With a world-class location in the Silicon Valley, 48 Lester Ave presents an attractive choice for South Bay renters due to its close proximity too major employers, transportation corridors, shopping, dining, and entertainment options.

Investment Highlights

  • Exceptional Willow Glen Investment Opportunity - Investors have the opportunity to acquire an exceptional turn-key multifamily asset in one of the most dynamic and desirable locations in the South Bay
  • Attractive Assumable Financing - Current loan terms are set to an extremely attractive 3.25% interest rate remaining interest only through September 2023
  • The subject property has recently undergone significant capital improvements including a complete re-piping with copper plumbing, a brand new roof, all new electrical, and a new main line
  • Desirable Unit Mix - 48 Lester Ave offers renters beautifully designed three-bedroom, two-bedroom, and one-bedroom floor plans featuring modern unit amenities, such as hardwood style flooring and updated kitchens, granite countertops, stainless-steel appliances and updated bathrooms
  • Walking Distance to Downtown Willow Glen - The subject property is within walking distance to Downtown Willow Glen, a historic district that houses an abundance of popular restaurants, and retail shops

Exclusively Listed By

Multifamily

48 Lester Ave

Investment Highlights

  • Exceptional Willow Glen Investment Opportunity - Investors have the opportunity to acquire an exceptional turn-key multifamily asset in one of the most dynamic and desirable locations in the South Bay
  • Attractive Assumable Financing - Current loan terms are set to an extremely attractive 3.25% interest rate remaining interest only through September 2023
  • The subject property has recently undergone significant capital improvements including a complete re-piping with copper plumbing, a brand new roof, all new electrical, and a new main line
  • Desirable Unit Mix - 48 Lester Ave offers renters beautifully designed three-bedroom, two-bedroom, and one-bedroom floor plans featuring modern unit amenities, such as hardwood style flooring and updated kitchens, granite countertops, stainless-steel appliances and updated bathrooms
  • Walking Distance to Downtown Willow Glen - The subject property is within walking distance to Downtown Willow Glen, a historic district that houses an abundance of popular restaurants, and retail shops

Investment Overview

48 Lester Ave is an exceptional 9-unit apartment complex located in the thriving city of San Jose, California. Situated on a parcel of land totaling 9,750 square feet, the subject property was originally constructed in 1959 and features a gross building area of approximately 6,870 square feet, offering tenants and residents beautifully designed one-bedroom, two-bedroom, and three-bedroom floor plans featuring modern unit amenities, such as hardwood style flooring and updated kitchens, granite countertops, stainless-steel appliances and updated bathrooms. In addition, the subject property has recently undergone significant capital improvements such as a complete re-piping with copper plumbing, a brand new roof, all new electrical, and a new main line. 48 Lester Ave rests in the thriving neighborhood of Willow Glen, within walking distance to Downtown Willow Glen. Known as “San Jose’s Local Treasure” Willow Glen is one of the most expensive areas to live in San Jose, boasting a historic downtown district. The subject property is also nearby Downtown San Jose, and the San Jose International Airport. SJC is one of the busiest airports in all of California flying millions of passengers every year. Additionally, the subject property sits near San Jose State University and the historic Santa Clara University, ranked 54th nationally for undergrad and 11th nationally for the executive MBA program, based on US News & World Report Rankings. As part of Silicon Valley, this location also offers renters quick access to many of the nation’s top tech employers, including Apple, Google, Tesla, Facebook, IBM, Intel, Yahoo, Cisco Systems, Adobe Systems, LinkedIn as well as many others. The investment appeal of this asset is driven by San Jose’s strong employment fundamentals and low vacancy levels. With a world-class location in the Silicon Valley, 48 Lester Ave presents an attractive choice for South Bay renters due to its close proximity too major employers, transportation corridors, shopping, dining, and entertainment options.

Exclusively Listed By

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