420 BroadwayGilroy, CA 95020

This exceptional 16-unit apartment complex, Azure Apartments, presents a compelling investment opportunity in the vibrant city of Gilroy, California. Situated on a 0.78-acre lot (34,000 square feet), this property boasts a substantial 11,526 square feet of gross building area. Originally constructed in 1958, the complex offers a mix of one- and two-bedroom floor plans, each thoughtfully designed for comfortable living. Many units feature desirable amenities such as individual fireplaces and private yards, enhancing their appeal to tenants. Convenient private covered parking is also provided. Individual water heaters and separate PG&E meters for each unit ensure efficient utility management and resident independence. The property's strategic location offers unparalleled access to key attractions and amenities. It's conveniently located just 1.4 miles from the Premium Gilroy Outlets, a major shopping destination attracting significant foot traffic. The Town Plaza Shopping Center, with its diverse range of dining and entertainment options, is within walking distance. Furthermore, the property benefits from its proximity to popular Gilroy attractions such as the Gilroy Garlic Festival and Gilroy Gardens Family Theme Park, drawing visitors from across the United States. This prime location, coupled with the desirable features of the units and the strong potential for rental income, makes this a truly remarkable investment opportunity in a thriving market. The asking price is $5,480,000.