Property summary
This exceptional stabilized multifamily investment opportunity presents a 39-unit apartment building located at 15675 Milan Ln, Morgan Hill, CA 95037. The property, built in 2015, boasts a total net rentable area of 44,487 square feet across a single, three-story building situated on a 21,919 square foot lot. Currently operating at a 97% occupancy rate, the property generates a Net Operating Income (NOI) of $723,474, resulting in a current cap rate of 3.17%. A pro-forma NOI of $927,482… projects a 4.07% cap rate. The property features a diverse unit mix including six 1-bedroom/1-bathroom units, twenty-seven 2-bedroom/2-bathroom units, and six 3-bedroom/2-bathroom units. Each unit has its own separate water and electric meter. The property is zoned RAM-PD and is offered free and clear of any existing debt. Individual unit APNs are 767-56-001 through 767-56-039. Importantly, while currently sold as a single package, individual condo sales are permitted after November 23, 2025, with a projected market value of $30,445,000 at that time. This presents a unique opportunity for both immediate income generation and significant long-term appreciation potential. This is a truly exceptional opportunity in the desirable Morgan Hill, California market. The property is offered for sale at $22,800,000.
Ownership intelligence
Resolved identity, portfolio, hold profile and investor signals. Included in the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax
No data for this sectionNo tax or assessment record is on file for this parcel in the county feed.
Value estimate
· Sep 2026No data for this sectionNo value estimate could be modeled: the record carries too little market input for this parcel.
Recently sold
No data for this sectionNo cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
No data for this sectionNo zoning code is on file for this parcel. Coverage grows with every catalog release.
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
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The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
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