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Strong Employment Fundamentals Drive San Jose Multifamily Sale
Marcus & Millichap finalized the sale of a 10-unit apartment property located in San Jose. The asset sold for $4,300,000. Eymon Binesh, Adam Levin and Robert Johnston, investment specialists in Marcus & Millichap’s Palo Alto office, marketed the property on behalf of the seller, a limited liability company.
“The investment appeal of this asset is driven by San Jose’s strong employment fundamentals and low vacancy levels,” said Binesh. “With a world-class location in Silicon Valley, this property presents an attractive choice for South Bay renters due to its proximity to major employers, transportation corridors, shopping, dining and entertainment options.”
The property is located at 544 S. Sixth St. in San Jos. Situated on a 11,868 square-foot parcel of land, the property was originally constructed in 1969 and recently underwent significant capital improvements with nine of the 10 units being completely remodeled and renovated with new wood flooring, stainless steel appliances, updated kitchens, granite countertops, in-unit washer dryers and on-site parking and storage.
- ◦Sale/Acquisition
