Investment opportunity with $132,901 NOI, a 6.04% in-place cap rate, $147,221 pro forma NOI, and a 6.71% pro forma cap rate. The property currently generates approximately $13,935 per month in rental income and consists of seven residential units across two separate buildings on one APN. 1019 Villa Ave features a 2-bedroom, 1-bath single-family residence with approximately 1,200 sq ft plus a full cement-construction basement. 1021 Villa Ave is a six-unit multifamily building with six 1-bedroom, 1-bath units. Recent capital improvements include new windows and new electrical panels. The two-address configuration, established rental income, recent improvements, and projected NOI growth make this a compelling opportunity for investors seeking an income-producing residential asset in San Jose.
Listing courtesy of Listing Agent: Patrick Carvalho (realtorpatrickcarvalho@gmail.com) from Listing Office: Fathom Realty Group.
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