975 Boynton AVE

SAN JOSE, CA, 95117

$18,500,000

$541 per ft²
$18,500,000
$541 per ft²
Active
Active
 - For Sale
carpenters-square
34,144 ft²
property_type
Commercial
calendar
Built 1974
$1M PRICE REDUCTION! Boynton Gardens is an extensively renovated 48-unit garden style apartment community in West San Jose. This investment features an attractive unit mix of (16) 1+1 and (32) 2 +1. The majority of the apartments have been renovated and feature large balconies/patios. The property underwent an exterior renovation with a contemporary paint scheme, dual paned windows, bbq area, and new TPO roofs. The building benefits from copper plumbing and a high efficiency hot water heater system. The oversized parcel allows for ample parking as the property boasts a 1.5:1 parking ratio and no tuck under parking. This is TRULY A TURNKEY INVESTMENT. The property features an +/- 800 square foot office/storage that can be converted into (2) studio ADUs. The ideal rental location is convenient to 280, San Tomas Expressway, shopping, schools, parks and employers. Strong in-place rents with upside potential. GRM (Current/Market): 13.66 / 12.36. Cap Rate (Current/Market) 4.59% / 5.31%.
MLS® ID:
ML81895567
Updated:
11/26/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Laundry Description
Coin Operated, Washer / Dryer
Floor Description
Carpet, Laminate, Tile, Vinyl / Linoleum
Cooling
None
Heating
Electric

Exterior/Building Features

Lot Size
1.55 acres lot
Roof
Polyurethane
Sewer
Sewer - Public, Sewer Connected

Other Property Details

Area Name
15
HOA Amenities
BBQ Area, Common Utility Room
Garage
Yes
Parking
Carport, Covered Parking, Uncovered Parking
Parking Total
24.0
View
Y
County
Santa Clara
Utilities
Individual Electric Meters
Water Source
Public
Pool
Yes
Zoning
SJ

Property History

Date
Event
Price
Value
8/25/22
Price Change
$18,500,000
-5%

Courtesy of Newmark Cornish & Carey, Justin Bautista,
Listing Contact: 650-996-9384 

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Linda Zimmer shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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Data last updated 8:57 AM UTC, 11/26/22

 

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