240 Bendorf Drive, San Jose, CA 95111

About this commercial property

Built in 1986. Not subject to San Jose rent control. Incredible unit mix: (8) 2 bedroom / 1 bathroom townhouse style apartments and (1) 2 bedroom / 1 bathroom flat. All units feature either private patio or large private yard. Very well-maintained property. Newer roof and exterior paint. Strong in-place rents - Current GRM: 13.33 and Current Cap Rate: 4.95%. Tremendous upside potential - Market GRM: 11.88 and Market Cap Rate: 5.84%. Extremely low historical vacancy rate - 1.6% over the past 5 years. The property is located in the Edenvale neighborhood of South San Jose and is convenient to shopping, schools parks and Highways 85 & 101. This property has been lovingly maintained and updated by the same family for almost 25 years and would make a tremendous addition to any real estate portfolio.

Listing description from the August 2023 sale, as reported to CRMLS.

Sale history

$3,500,000

Sold August 2023 · listed $3,595,000, on market May 2023 · MLS #ML81929330 · Source: CRMLS

Listing Agent: Steve Zirelli · Listing Office: Cornish & Carey Commercial · Contact: 650-322-2600 · Bought with: Tam Nguyen · PHP Group, Inc

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