Subject property is a mixed use Retail / Multi Family Property located on Alum Rock Ave in San Jose. The property consists of two parcels and has approximately 4,000 SF or Retail / Commercial space and approximately 3,850 SF of multi family space. The unit mix on the multi-family portion is (7) 1/1 all residential units are currently rented below market. One commercial units is currently on MTM a lease however, but it is believed the tenant would sign a term lease given the opportunity. The other tenant is a local caterer with good financials and credentials. This tenant just signed a 5 year lease which commenced in April of 2016.

Location Description:

The subject property is located on the borders of the Little Portugal and Beverly - Wilshire neighborhoods. The property benefits from its close proximity to both highways 101 and 680. Despite the fact the property is on a busy the street the residential units are tucked away behind the two commercial units thereby eliminating a lot of road noise and giving a sense of privacy to the residential tenants.

Highlights:

>> 5% on current rents

>> Development potential - Urban Village Zoning

>> Located directly On the Alum Rock Rapid Transit Line Linking Eastridge to Downtown San Jose

>> Owner just painted and stuccoed the exterior of the apartments and residential parking garage

>> Large lot approximately.5 acres

>> Tire shop is on MTM lease at a below market rate

>> New lease with Unique Cuisine (old Tanchito's space) 5 years, NNN with annual escalations. Lease commencement date April 2016

>> Assumable loan, contact listing agent for more details

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