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$ 11,995,000
Est. payment /mo
New
711 South ST Hollister, CA 95023
1.95 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML81999438
HOA Y/N No
Year Built 1974
Annual Tax Amount $145,552
Lot Size 1.950 Acres
Property Description
Investment opportunity offered at a 5.73% cap rate on in-place PLUS upside. Hollister Hacienda offers investors a unique opportunity to acquire an extensively renovated, well performing apartment complex strategically located in close proximity to Silicon Valley. With San Jose just a 35-45 minute commute, residents take advantage of the fact that housing costs in Hollister are approximately 40-45% less than Santa Clara County. Strong unit mix: (33) 2 bed/1 bath, (8) 3 bed/2 bath and (2) studios. Hollister is a perennially tight housing market, and there are no market-rate multifamily projects slated for development. The complex has undergone significant improvements to the exterior and all 43 unit interiors, resulting in low maintenance costs and an enhanced living experience for tenants. Very few other complexes in San Benito County offer the same large unit square footage, spacious low-density footprint, favorable on-site parking ratio, and mix of complementary amenities. Realistic upside in income potential exists for future ownership: 1) upside in rents 2) possibility of building up to 10 ADUs 3) addition of in-unit laundry to 2 bedroom units 4) utility billing and/or submetering 5) upside in parking, pet and storage income. Great agency debt quote available.
Location
State CA
County San Benito
Area 699 - Not Defined
Zoning AP
Interior
Heating Wall Furnace
Fireplace No
Exterior
Roof Type Flat,Mansard
Total Parking Spaces 62
Building
Water Public
Schools
School District Other
Others
Tax ID 055030023000
Special Listing Condition Standard
Listed by Joe Budka • Redwood Property Company