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Multifamily

The Parkview

825 Kiely Blvd, Santa Clara, CA 95051

Listing Price: $10,900,000

Cap Rate
4.25%
Number of Units
27
Occupancy
96.0%
Price/Unit
$403,704
Price/Gross SF
$455.08
Gross SF
23,952

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale The Parkview Apartments located at 825 Kiely Boulevard in Santa Clara, California. The subject property is a 27-unit multi-family community that consists of four residential building situated on a 0.91-acre site adjacent to Central Park. Built in 1969, The Parkview has a unit mix of 12 one-bedroom units, 14 two-bedroom units, and one three-bedroom unit. One-bedroom units measure approximately 667 square feet; two-bedroom units average about 962 square feet; the three-bedroom units is estimated at 1,264 square feet. The one-bedroom units are flats and the two- and three-bedroom units have a townhouse-style layout. 825 Kiely Boulevard is situated in the heart of Silicon Valley and is a short driving distance to many of the area’s largest employers. The new Apple “Spaceship” campus is less than two miles away. This project encompasses more than 3.5 million square feet of space and can accommodate about 12,000 employees. The property is also a short commute to the largest employers in Santa Clara and Silicon Valley, including Kaiser Permanente, NVIDIA, Intel, Ericsson, Applied Materials, Intuitive Surgical, and ServiceNow. The Parkview is located adjacent to Central Park in Santa Clara and benefits from its close proximity to numerous amenities. The Central Park library is just steps away, as is the International Swim Center. Both Santa Clara High School and Central Park Elementary School are within one-half mile of the property. The Mariposa Shopping Center is within walking distance; this retail property is anchored by Safeway, CVS, and Ross. Additionally, Target, Sprouts, Grocery Outlet, Lucky, Walgreens, and Smart & Final are all just a short drive away. With excellent access to employment centers, retail services, and other amenities, The Parkview is a prime value-add opportunity in Silicon Valley. The buyer can create immediate improvement over historical performance through implementing a utility billback program. Additionally, improvements to the building exteriors and renovation of vacant units will generate a premium compared to current contract rents. This asset offers significant upside to the savvy investor.

Investment Highlights

  • Value-add multi-family property in the heart of Silicon Valley
  • Desirable unit mix consisting of 12 one-bedroom units, 14 two-bedroom units, and one three-bedroom unit
  • Less than two miles to Apple's 3.5-million square foot worldwide headquarters
  • Short commute to major employers, such as Kaiser Permanente, NVIDIA, Intel, Ericsson, Applied Materials, Intuitive Surgical, ServiceNow
  • Less than one-half mile to Santa Clara High School and Central Park Elementary School
  • Adjacent to Central Park and near Central Park Library and the International Swim Center
  • Walking distance to Safeway, CVS, Ross, and numerous restaurants and retailers
  • Project amenities include a swimming pool, laundry facilities, backyards for select units, and covered parking

Exclusively Listed By

Listing Price: $10,900,000

Cap Rate
4.25%
Number of Units
27
Occupancy
96.0%
Price/Unit
$403,704
Price/Gross SF
$455.08
Gross SF
23,952

Investment Highlights

  • Value-add multi-family property in the heart of Silicon Valley
  • Desirable unit mix consisting of 12 one-bedroom units, 14 two-bedroom units, and one three-bedroom unit
  • Less than two miles to Apple's 3.5-million square foot worldwide headquarters
  • Short commute to major employers, such as Kaiser Permanente, NVIDIA, Intel, Ericsson, Applied Materials, Intuitive Surgical, ServiceNow
  • Less than one-half mile to Santa Clara High School and Central Park Elementary School
  • Adjacent to Central Park and near Central Park Library and the International Swim Center
  • Walking distance to Safeway, CVS, Ross, and numerous restaurants and retailers
  • Project amenities include a swimming pool, laundry facilities, backyards for select units, and covered parking

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale The Parkview Apartments located at 825 Kiely Boulevard in Santa Clara, California. The subject property is a 27-unit multi-family community that consists of four residential building situated on a 0.91-acre site adjacent to Central Park. Built in 1969, The Parkview has a unit mix of 12 one-bedroom units, 14 two-bedroom units, and one three-bedroom unit. One-bedroom units measure approximately 667 square feet; two-bedroom units average about 962 square feet; the three-bedroom units is estimated at 1,264 square feet. The one-bedroom units are flats and the two- and three-bedroom units have a townhouse-style layout. 825 Kiely Boulevard is situated in the heart of Silicon Valley and is a short driving distance to many of the area’s largest employers. The new Apple “Spaceship” campus is less than two miles away. This project encompasses more than 3.5 million square feet of space and can accommodate about 12,000 employees. The property is also a short commute to the largest employers in Santa Clara and Silicon Valley, including Kaiser Permanente, NVIDIA, Intel, Ericsson, Applied Materials, Intuitive Surgical, and ServiceNow. The Parkview is located adjacent to Central Park in Santa Clara and benefits from its close proximity to numerous amenities. The Central Park library is just steps away, as is the International Swim Center. Both Santa Clara High School and Central Park Elementary School are within one-half mile of the property. The Mariposa Shopping Center is within walking distance; this retail property is anchored by Safeway, CVS, and Ross. Additionally, Target, Sprouts, Grocery Outlet, Lucky, Walgreens, and Smart & Final are all just a short drive away. With excellent access to employment centers, retail services, and other amenities, The Parkview is a prime value-add opportunity in Silicon Valley. The buyer can create immediate improvement over historical performance through implementing a utility billback program. Additionally, improvements to the building exteriors and renovation of vacant units will generate a premium compared to current contract rents. This asset offers significant upside to the savvy investor.

Exclusively Listed By

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