711 South Street, Hollister, CA 95023 – ML81999438

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Patricia Beattie

patricia@brivio.com +1(415) 286-8292

Listed by Joe Budka • Redwood Property Company

$11,995,000

Est. payment - /mo

36,624 SqFt

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UPDATED:

Key Details

Property Type Commercial

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 36,624 sqft

Price per Sqft $327

MLS Listing ID ML81999438

HOA Y/N No

Originating Board Datashare MLSListings

Year Built 1974

Lot Size 1.950 Acres

Property Sub-Type Other

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

Interior

Heating Wall Furnace

Cooling Other

Fireplace No

Exterior

Handicap Access Other

Building

Water Public

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Patricia Beattie

+1(415) 286-8292

Broker | License ID: 01405369

Broker License ID: 01405369

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711 South Street Hollister, CA 95023

Patricia Beattie

Key Details

Location

Interior

Exterior

Building

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