Investment Overview

Jimmy Castellanos is proud to exclusively present 240 Union Avenue, a boutique 12-unit multifamily community in the heart of Campbell, California. This pride-of-ownership asset features two-bedroom, two-and-a-half bathroom townhomes, one two-bedroom, two-bathroom flat, and one studio efficiency unit. The two-bedroom floor plans all average over 1,100 square feet. Built in 1976, the property encompasses 13,662 square feet of net rentable space, excluding a 160-square-foot studio efficiency unit equipped with a full bathroom, offering potential for conversion into a 13th unit. Situated on a generous 21,672-square-foot lot, residents enjoy proximity to the vibrant historic downtown Campbell and the bustling Pruneyard Shopping Center, providing unparalleled access to dining, shopping, and entertainment options. Campbell has emerged as one of the Bay Area's most dynamic rental markets. According to a February 2025 report by NBC Bay Area, the city experienced a remarkable 32.2% year-over-year rent increase—the highest among Bay Area suburbs. This surge is attributed to Campbell's central South Bay location, its vibrant downtown, and increasing demand from tech professionals seeking housing closer to burgeoning employment hubs. Notably, while Campbell itself has seen limited direct leasing activity from major tech firms since January 2023, the surrounding Silicon Valley area has been active. For instance, TikTok renewed two leases totaling 357,106 square feet in San Jose in 2024, and Supermicro Computer signed a new lease for over 124,000 square feet at 550 East Brokaw Road in San Jose. These developments underscore the region's growing appeal to tech companies, indirectly benefiting Campbell's housing demand. This offering represents a rare opportunity to acquire a well-maintained, income-generating asset in a market poised for continued growth. 240 Union Avenue not only provides stable cash flow but also positions investors to capitalize on the area's escalating rental rates and the broader economic expansion of Silicon Valley. With its strategic location and potential for unit expansion, this property is an exceptional addition to any investment portfolio.