$ 5,100,000
1370 Calabazas Boulevard Santa Clara, CA 95051
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Listed by Don Sung • Colliers Parrish International
$ 5,100,000
Est. payment /mo
Active
1370 Calabazas Boulevard Santa Clara, CA 95051
11,322 SqFt
UPDATED:
09/13/2024 05:13 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 11,322 sqft
Price per Sqft $450
MLS Listing ID ML81978213
HOA Y/N No
Originating Board Datashare MLSListings
Year Built 1975
Lot Size 0.500 Acres
Property Description
FIRST-TIME ON MARKET EVER! Once in a Lifetime Oppty to Acquire 1370 Calabazas (12 Oversized 2 Bedroom Units). All Spacious 2 BR's: (9) x 2 BR/1.5 BA Townhouse Units on 2-Levels: (946 SF) - Remodeled + (3) x 2 BR/1 BA: (790 SF) - Newly Rebuilt. All Units Offer Desirable Floorplans, Dishwashers, etc. Townhouse Units Offer Private Patio/Yards. Due to Fire in 2022, (3) 2 BR/1 BA Units Were Completely Rebuilt (New), and (9) 2 BR/1.5 BA Units Were Fully Renovated Due to Building Closure. All Units Leased Within Last 6-Months. 1577 Pomeroy (20 Spacious Units), and 1575 Pomeroy (Build 3 Homes on 9,000 SF Parcel) Can Be Purchased TOGETHER OR SEPARATELY. Oversized 2 BR Floorplans Offer Potential to Reposition Asset into High-End Apartment Homes w/ Outdoor Living/Private Patios. Opportunity to Move Tenants Between Buildings to Free Up/Renovate Units. Potential to Install In-Unit Washer/Dryers and High-End Upgrades to Achieve Even Higher NOI/CAP. Walkscore: 93. Walkable to Most Amenities. Easy Access to El Camino Real, Lawrence Expwy, HWY 101, 280. Attractive Cost/SF: $451/SF. Lot Size: 21,830 SF (0.5 Acres). Current CAP Rate: 4.69% / Current GRM: 12.7. Pro-Forma CAP Rate: 5.04% / Pro-Forma GRM: 12.1. Co-Listed w/ John Kovaleski.
Location
State CA
County Santa Clara
Interior
Heating Forced Air
Cooling None
Fireplace No
Appliance Dishwasher, Refrigerator
Laundry Coin Operated
Exterior
Parking Type Assigned
Building
Water Public
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