1299 Leigh Ave San Jose, CA 95126

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.