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1299 Leigh Ave San Jose, CA 95126

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For Sale
$10,650,000

36-unit apartment complex with value-add potential in San Jose.

Property size:
30,851 SF

Property Features for 1299 Leigh Ave

General Information

Standard status
Active
Size
30,851 SF

Building Details

Year built
1971

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Listing Contact
Joel Hopman
Source: Corcoran

Listing Agency: NEWMARK CORNISH & CAREY Listing Agent: Joel Hopman

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Mission Villa Apartments Investment Opportunity

Built in 1971, the Mission Villa Apartments is a 36-unit community featuring a mix of one-bedroom, two-bedroom, and three-bedroom units. The one-bedroom units offer 705 square feet, the two-bedroom units offer 850 square feet, and the three-bedroom units offer over 1,150 square feet. Each unit includes in-wall air conditioning, dishwashers, disposals, and either a private patio or balcony. The property features Spanish-style architecture and includes a heated swimming pool and spa, a barbecue area, a recreation room, a fitness center, and an adjoining sauna with shower and restrooms. This property presents a value-add investment opportunity through interior and common area renovations. Select units have been renovated, and there is potential to expand the unit modernization program. Additional operational upside can be captured via loss to lease upside, contemporization of existing amenities, or conversion to add multiple additional rental units. Residents benefit from proximity to the 11-mile Los Gatos Creek Trail, retail and restaurant options of The Pruneyard, Santana Row and Downtown Campbell, and world-class employers. The property size is 30,851 square feet.
Location Intelligence

Current Use by Public Records

Mission Villa Apartments Apartment Complex Compas Hauling | Junk ... Waste Management Facility

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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City
San Jose
County
Santa Clara
State
California
Longitude
-121.9232499
Latitude
37.3004243

FAQs

What type of property is this?
Apartment building - 36-unit apartment complex with value-add potential in San Jose.
Where is this apartment building located?
The property is located at 1299 Leigh Ave San Jose, CA.
What is the asking price?
The asking price for this property is $10,650,000.
What are key features of this property?
This property features: - Value-add investment opportunity through interior and common area renovations.; - **Attractive Spanish-style architecture with a heated swimming pool and spa.**; - Diverse unit mix: 1, 2, and 3-bedroom apartments with private patios or balconies.
More about this property
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