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$ 4,150,000
Est. payment /mo
Open Fri 12PM-1PM
2388 Karen DR Santa Clara, CA 95050
0.37 Acres Lot
Open House
Fri Jun 19, 12:00pm - 1:00pm
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82050774
HOA Y/N No
Year Built 1963
Annual Tax Amount $49,417
Lot Size 0.374 Acres
Property Description
Magnify is pleased to present 2388 Karen Drive, a rare opportunity to acquire a classic value-add apartment community in Santa Clara, one of the most landlord-friendly rental markets in Silicon Valley. Ideally located 2 miles from NVIDIA and 3 miles from Apple, the property offers investors an excellent location with significant upside in an irreplaceable employment corridor. Offered for sale for the first time in 40+ years, the building consists of 9,269 building square feet on a large 0.37-acre parcel. The property features a desirable unit mix of (8) 2BD/1BA and (4) 1BD/1BA, catering to a broad tenant base. Residents benefit from dishwashers, functional floor plans, and a swimming pool that enhances tenant appeal and retention. Several major capital improvements include a new roof (2019) and water heater (2026). The property also has copper plumbing, low-maintenance hardscaping, and completed the SB-721 inspection. This asset presents a compelling investment with over 30% upside in rental income through renovations. Combining substantial income upside and a premier location near some of the world's largest technology employers, 2388 Karen Drive represents a rare opportunity for a high-growth property with immediate and long-term value creation potential.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning R3
Interior
Cooling None
Fireplace No
Exterior
Carport Spaces 12
Roof Type Composition,Shingle
Building
Water Public
Schools
School District Other
Others
Tax ID 29036068
Special Listing Condition Standard
Virtual Tour https://my.matterport.com/show/?m=7wg9xGcSsVR
Listed by David Katz Magnify Real Estate #01971921
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