Description

Marcus & Millichap is pleased to present the investment opportunity located at 1352 Carnelian Drive in San Jose, California. This attractive, four-unit apartment complex is situated on a parcel of land totaling 0.16 acres and features a gross building area of approximately 3,214 square feet. Built in 1962, the property sits near Downtown San Jose and is within walking distance to the Walmart-anchored Grand Century Shopping Mall, home to a myriad of dining, shopping, and entertainment options. Likewise, the property is just blocks away from the Happy Hollow Park and Zoo, an exciting entertainment venue for people of all ages. The multifamily building also sits near San Jose State University and the historic Santa Clara University, ranked 54th nationally for undergraduate programs and 11th nationally for the executive MBA program based on U.S. News & World Report rankings. As part of Silicon Valley, this location offers renters quick access to many of the nations top tech employers, including Apple, Google, Tesla, Facebook, IBM, Intel, Yahoo, Cisco Systems, Adobe Systems, and LinkedIn, as well as many others. Overall, the investment appeal of this asset is driven by San Joses strong employment fundamentals and low vacancy levels. .