1588 Blossom Hill RdSan Jose, CA 95118

Property Details for 1588 Blossom Hill Rd

Year built

1963

Property size (Sq ft)

2,980 SF

Property type

Apartment buildings

Description

This exceptional fourplex investment property, located at 1588 Blossom Hill Rd, San Jose, CA 95118, presents a compelling opportunity. Built in 1963, this meticulously maintained two-story building offers 2,980 square feet on a 7,841 square foot lot. The property boasts a desirable unit mix: one three-bedroom/one-bathroom unit, two two-bedroom/one-bathroom units, and one one-bedroom/one-bathroom unit. Recent capital improvements include new copper supply lines, updated kitchens and bathrooms, a new fence, dual-pane windows, air conditioning in units 3 and 4, and a newer low-pitched flat roof. Additional features include a common area backyard, a coin-operated laundry room, and two assigned parking spaces per unit. The property's strong performance is reflected in its current NOI of $62,872 and a pro-forma NOI of $81,612, yielding a 3.93% cap rate and a pro-forma cap rate of 5.11%. The asking price is $1,598,000, or $399,500 per unit. Its prime location in the sought-after Blossom Hill neighborhood offers easy access to major highways (85, 87, and 17) and proximity to numerous tech employers, including eBay, Adobe, IBM, PayPal, and Cisco. The property is zoned RM. The APN is 567-28-010. This is a turnkey investment with significant upside potential.

Location Insight

City

San Jose

County

Santa Clara

State

California

Latitude

37.2365

Longitude

-121.902

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