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San Jose, CA

Right in the heart of downtown San Jose, across from City Hall and a mere 100 yards from the future Bay Area Rapid Transit (BART) Station, this property is ideally located. It will feature 265 units of multi-family apartments and 8,500 square feet of ground floor retail space. Located within walking distance from downtown amenities, businesses, restaurants and VTA light rail, the addition of BART will truly make this project the definition of Transit Oriented Development. Single tenant users, looking for the perfect blend of an urban environment in Silicon Valley and Transit Oriented Development, will be eager to move in to this project that is as close as they can get to Main and Main. The land is pre-zoned and pre-general planned for mixed use, construction is slated to begin in Q1 of 2021.

Facts and Figures

  • Multifamily 265 units
  • Retail 8,500 SF
  • Transaction Status Purchased
  • Ground Breaking Q1 2021
  • Project Completion Q1 2023
  • Project Cost $227 Million
  • Value at Stabilization $445 Million
  • Profits $361 Million
  • Mulitple 4.53x
  • Return On Cost 6.71%
  • Exit Cap Rate 4.04%
  • Internal Rate of Return 20.4%