2991-3001 Magliocco DR, San Jose, CA 95128

Property Description

Magliocco Manor is an excellent opportunity for a buyer to acquire a quality investment property in and ideal rental location. 16 of the 24 units have been upgraded. The units are spacious and average over 700 sf each. The complex has new dual paned windows, copper plumbing and new carport roofs. The property consists of (2) 12-unit complexes on adjacent parcels. Does not require an on-site manager. Buyer can secure 2 individual loans and sell off properties individually in the future. Unit mix: (18) 1+1 and (4) 2+1. Large common courtyard. Strong in-place rents with upside potential. Market GRM: 13.03 and Market Cap Rate: 5.06%. Outstanding rental location - walking distance to Santana Row & Valley Fair Mall. Convenient to highways 280 and 880. Many large office complexes nearby. Incredible financing available - quotes 7 year fixed at 3.35% with 3 years of interest only payments.