Description

Offering memorandum available. Wonderful garden style 20-unit apartment community only 1.3 miles from Apple Park and 3 miles from Nvidia. (10) 2-Bed/1-Bath, (4) 1-Bed/1-Bath, (6) Studios. Building Size: 12,869 SqFt. Lot Size: 24,160 SqFt. Over $400,000 in recent CapEx: New Electrical Main & Interior Panels and 500A Service, New Roof with Transferable Warranty to Buyer, New Exterior Paint & Fascia, Copper Piping Replacements, Handrail Repairs & Catwalk Waterproofing & Dryrot Repairs Completed with full SB-721 Clearance, Water Heater, & Interior Renovations of Multiple Units. The property has wonderful garden style landscaping with a large courtyard & a swimming pool & lounge area. An ADU consultancy's report indicates there is the potential to add between 6 and 13 ADUs depending and # of parking spaces the buyer prefers (buyer to verify). Additional value add strategies include increasing rents & renovating units & adding dishwashers, installing in-unit laundry, & renovating with luxury finishes to need the demand of high income technology employees. The shortage of housing units, rent growth, & proximity to large Silicon Valley employers make 925 Pomeroy Ave a great opportunity for both the cash-flow and appreciation-minded investor.