Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN JOSE-A 100-unit apartment complex here has traded hands for $13.65 million. The buyer is Pacific Property Co., a Palo Alto-based multifamily investment company. The seller was a local investment group.

The 70,000-sf apartment complex, built in 1960, is located at the intersection of Williams Road and Ranchero Way. It consists of five separate tax parcels and includes one studio, 55 one-bedroom units, 37 two-bedroom units, and seven three-bedroom units. At the time of the sale, the complex was approximately 95% occupied.

The property reportedly sold at a 5.9% capitalization rate. The sale price equates to $195 per sf and $136,500 per unit. David J. Dematteis of Marcus & Millichap Real Estate Investment Brokerage Company secured and represented both the buyer and seller in this transaction.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.