1661 & 1663 Alum Rock Ave

1661 & 1663 Alum Rock Ave San Jose, CA 95116

Medium_full
Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full Thumb_full
FOR SALE Incentives
Property Type:
MultiFamily Apartments
Amount:
$3,250,000
Last Verified:
Dec 08, 2016


The subject property is located on the borders of the Little Portugal and Beverly - Wilshire neighborhoods. The property benefits from its close proximity to both highways 101 and 680. Despite the fact the property is on a busy the street the residential units are tucked away behind the two commercial units thereby eliminating a lot of road noise and giving a sense of privacy to the residential tenants.

5% on current rents
Development potential - Urban Village Zoning
Located directly On the Alum Rock Rapid Transit Line Linking Eastridge to Downtown San Jose
Owner just painted and stuccoed the exterior of the apartments and residential parking garage
Large lot approximately.5 acres
Tire shop is on MTM lease at a below market rate
New lease with Unique Cuisine (old Tanchito's space) 5 years, NNN with annual escalations. Lease commencement date April 2016
Assumable loan, contact listing agent for more details
Year Built: 1949
Building Size: 7850.0sq ft
Lot Size: 0.51 acres

Map of 1661 & 1663 Alum Rock Ave, San Jose, CA, 95116

Discussion/Comments

Presented by:
Thumb_185168393b

Request additional information
Icon_pic
Office: () -


Send a message
Share this Listing

Real Estate Incentives (What is this?)
Not Interested In This Property? TheBrokerList.com Can Help
Looking for an office, retail space, warehouse or anything else?
Contact a Licensed Member Today

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.