Investment Overview

Park Plaza is a well-maintained 16-unit multifamily asset located on 255 N 3rd St in the prosperous city of San Jose, California. Situated on a large 7,769 square feet parcel of land, the subject property was originally constructed in 1964 and features a gross building area of approximately 6,528 square feet, offering tenants and residents 100% beautifully designed onebedroom floor plans. Additionally, tenants enjoy convenient community amenities such as private gated parking and an on-site laundry facility. Park Plaza sits near Downtown San Jose and is within walking distance to the Target anchored San Jose Market Center, both being home to a myriad of dining, shopping, and entertainment options. The subject property also boasts convenient access to the San Jose Mineta International Airport (SJC). SJC is one of the busiest airports in all of Northern California, serving millions of passengers every year to both domestic and international destinations. Additionally, the subject property is located 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. The community also benefits from its proximity to some of San Jose’s largest employers, such as the Santa Clara County Medical Center, Adobe, PwC, Deloitte, Cisco, among many other multinational enterprises. 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 Silicon Valley, Park Plaza presents an attractive choice for South Bay renters due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.