Site is in the heart of Silicon Valley, less than 2 miles away from Apple's headquarters. This offering is absolutely a rare and unique opportunity to place capital in one of the highest sought-after locations in the United States. Building permit for a 4-story Hampton by Hilton hotel is currently at the final stage of approval. The hotel is with 89 guest rooms and one level of underground parking. Seller has spent nearly $2 million over the past 5 years on entitlement, building permit, and site demolition. Other land use for retail, mixed-use, and multi-family is allowed under current zoning. - Seller has received all necessary land use approvals from the City of San Jose - Project is currently at the final stage of Building Permit issuance - Site has been demolished, and seller has obtained all necessary environmental clearance verification documents from the county and the city - Franchise Agreement with Hilton for the Hampton by Hilton brand has been signed and fees have been paid
Courtesy of Pacific Realty Investment Group, Jerry Kwok.
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