2994 Huff Ave San Jose, CA 95128-3015

Property Details for 2994 Huff Ave

Year built

1960

Construction

WOOD

Lot size

0.26 lot acres

Property size

7,710 SF

Zone code

RM

Property type

Apartment buildings

APN

279-07-040

APU

27907040

Description

This exceptional 12-unit apartment building in San Jose, California presents a compelling investment opportunity. Located near Santana Row in a desirable neighborhood, this property boasts a strong current income stream and significant potential for future equity growth. The building, constructed in 1960, comprises 7,710 square feet and sits on a spacious 11,400 square foot lot. The unit mix includes nine one-bedroom/one-bathroom and three two-bedroom/one-bathroom units, currently enjoying 100% occupancy. The property generates a Net Operating Income (NOI) of $171,206, with a pro-forma NOI of $212,554, reflecting a current cap rate of 4.89% and a pro-forma cap rate of 6.07%. The asking price is $3,500,000, translating to $453.96 per square foot and $291,667 per unit. The land value is $307 per square foot. This prime location offers convenient access to major employers like Google, eBay, and numerous tech companies, as well as educational institutions such as San Jose City College and San Jose State University. Excellent freeway access via Highways 880, 280, and 87 further enhances its appeal. The property's strong performance, prime location, and potential for value appreciation make it an attractive addition to any investment portfolio. The building consists of two stories. The APN is 279-07-040. The property is located at 2994 Huff Ave, San Jose, CA 95128.