1354 Essex Way, San Jose, CA 95117
Fourplex
Sold January 2023
Listing Agent: Jimmy Castellanos (DRE #02024152) · Listing Office: Marcus & Millichap · Contact: (650) 391-1700 · Bought with: Tony Sum · Upswing Real Estate · MLS #ML81908938 · Source: CRMLS
About this fourplex
1354 Essex Way is a four-unit apartment building located in Thriving West San Jose, California. The property has an optimal unit mix with (1) three-bedroom/two-bath unit, (1) two-bedroom/two-bathroom unit, and (2) two-bedroom/one-bath units, with aggregate living space totaling almost 4,000 square feet (per county assessor). The property represents a prime investment opportunity in West San Jose with immediate access to major freeways and major employers in Silicon Valley such Apple, Google, and Facebook. Residents will enjoy walking distance proximity to downtown Campbell and a short drive to Santana Row, Los Gatos, and Downtown San Jose. The offering represents a unique value add opportunity due to low in place rents. Competitive rental comparable in the immediate neighborhood suggests almost 25% loss to lease on the September 2022 rent roll, giving a savvy investor an opportunity to add value without the need for major capital improvements.
Listing description from the January 2023 sale, as reported to CRMLS.
Sale history