Marcus & Millichap, a leading commercial real estate firm, has successfully closed the sale of a 10-unit apartment property in San Jose for $4.3 million. The transaction was facilitated by investment specialists Eymon Binesh, Adam Levin and Robert Johnston from Marcus & Millichap’s Palo Alto office on behalf of the seller.
According to Binesh, the strong employment market and low vacancy rates in San Jose were key factors that made this property an attractive investment opportunity. Its prime location in Silicon Valley also adds to its appeal as it offers convenient access to major employers as well as various amenities such as transportation options, shopping centers, restaurants and entertainment venues.
The multifamily property is situated at 544 S. Sixth St., occupying an 11,868 square-foot parcel of land. Originally built in 1969, it has recently undergone significant renovations including new wood flooring and stainless steel appliances in nine out of ten units. Other upgrades include updated kitchens with granite countertops and modern amenities like in-unit washer dryers for added convenience. On-site parking spaces are also available along with storage facilities.
This successful sale highlights the robust demand for multifamily properties within San Jose’s thriving real estate market driven by its strong economic fundamentals.
