2991-3001 Magliocco Drive

San Jose, CA 95128

$7,600,000
Last Sold Price
Beds
16,962 Sq. Ft.
$448 / Sq. Ft.
16,962
Sq. Ft.
$448
per Sq. Ft.

Description

Magliocco Manor is an excellent opportunity for a buyer to acquire a quality investment property in and ideal rental location. 16 of the 24 units have been upgraded. The units are spacious and average over 700 sf each. The complex has new dual paned windows, copper plumbing and new carport roofs. The property consists of (2) 12-unit complexes on adjacent parcels. Does not require an on-site manager. Buyer can secure 2 individual loans and sell off properties individually in the future. Unit mix:...Magliocco Manor is an excellent opportunity for a buyer to acquire a quality investment property in and ideal rental location. 16 of the 24 units have been upgraded. The units are spacious and average over 700 sf each. The complex has new dual paned windows, copper plumbing and new carport roofs. The property consists of (2) 12-unit complexes on adjacent parcels. Does not require an on-site manager. Buyer can secure 2 individual loans and sell off properties individually in the future. Unit mix: (18) 1+1 and (4) 2+1. Large common courtyard. Strong in-place rents with upside potential. Market GRM: 13.03 and Market Cap Rate: 5.06%. Outstanding rental location - walking distance to Santana Row & Valley Fair Mall. Convenient to highways 280 and 880. Many large office complexes nearby. Incredible financing available - quotes 7 year fixed at 3.35% with 3 years of interest only payments.
  1. Listed by Justin Bautista • DRE #01268331 • Brokerage DRE #00586119 • Newmark Cornish & Carey • 650-996-9384

Property Details for 2991-3001 Magliocco Drive

MLS City Name
SAN JOSE
Building Type
Other
Complex Name
Magliocco Manor
Garage Spaces
0
Parking Spaces
0
Cross Street
Winchester Boule

Location

Listing Courtesy of Newmark Cornish & Carey, Justin Bautista, DRE #01268331

Sold By Newmark Cornish & Carey, Justin Bautista, DRE #01268331

Add your commute
LISTING UPDATED: 06/07/2021 02:51 PM

Property Details for 2991-3001 Magliocco Drive

StatusSold
MLS #ML81825743
Days on Compass21
Taxes$105,687 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1959
Lot Size0.64 AC / 28,069 SF
CountySanta Clara County

Location

Listing Courtesy of Newmark Cornish & Carey, Justin Bautista, DRE #01268331

Sold By Newmark Cornish & Carey, Justin Bautista, DRE #01268331

Add your commute

Building Information for 2991-3001 Magliocco Drive

Stories-Residences-Year Built1959Building Size-Lot Size0.64 AC / 28,069 SF

Payment Calculator

$50,284 per month

30 year fixed, 7.25% Interest

Principal and Interest

$41,476

Property Taxes

$8,807

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2991-3001 Magliocco Drive

Features
Features
  • Energy Features: Double Pane Windows
  • Fireplace: No
  • Flooring: Carpet, Laminate, Tile, Vinyl / Linoleum
  • Laundry: Coin Operated, Washer / Dryer
  • Living SqFt: 16962
  • Pool: No
  • Security Features: Security Fence
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Gas, Wall Furnace
  • Meters: Master Water, Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public, Sewer Connected
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Water: Public
Carport and Parking
  • Carport Min: 24
Garage
  • Garage and Parking: Assigned Spaces, Covered Parking
Property Details
Homeowners Association
  • HOA Amenities: BBQ Area, Common Utility Room
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Exterior: Dual Pane Windows
  • Min Num Of Units in Complex: 24
  • Area Text: Campbell
  • Restrictions: None
  • Roof: Composition, Shingle
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 2991-3001
  • Street Name: Magliocco
  • Street Suffix: Drive
  • Area ID: 15
Lot / Property Details
Building Information
  • Number of Buildings: 3
  • Structure SqFt: 16962
  • Structure SqFt Source: Other
  • Age: 62
Development Information
  • Zoning Detail: RM
Location Information
  • City Limits: Yes
  • Incorporated: Yes
  • Parcel Number: 279-07-032
  • County Name: Santa Clara
  • City Name: SAN JOSE
  • City Postal ID: 58
  • Postal Code: 95128
  • Elementary School District: 454
  • High School District Text: Campbell Union High
Lot Information
  • Foundation: Concrete Perimeter and Slab
  • Lot Acres: .64
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Other
  • Yard Grounds: BBQ Area, Courtyard, Sprinklers - Lawn
Mobile / Manufactured Information
Other Information
  • Dual Variable: No
Multi Family Information
Building Information
  • No Of Leased: 23
General Information
  • Annual Tax Amount: $105,687
  • Capitalization Rate: 4.58
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Heating
  • Income Includes: Laundry, Rents
  • Vacancy Factor: 0
Income / Expense Details
  • Expense Insurance: $5,937
  • Expense Landscape: $2,400
  • Expense Maintenance: $16,800
  • Expense Management: $21,304
  • Expense Trash: $7,130
  • Expenses Other: $22,192
  • Expenses Utility: $20,667
  • Expenses Total: $202,117
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Maintenance - Repair, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Hot Water, Utilities - Water, Vacancy Factor
  • Gross Rent Multiplier: 13.94
  • Income Annual Gross: $559,596
  • Income Annual Rental: $554,796
  • Income Gross Scheduled: $559,596
  • Income Other: $4,800
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 1
  • Unit 1 Rent: $1,556
Unit 2 Information
  • Unit 2 Approx Square Footage: 800
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $2,195
Unit Type 1
  • Unit Type1 Approx SqFt: 650

Property History for 2991-3001 Magliocco Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 2991-3001 Magliocco Drive

This home is within Campbell Union School District.
Rating
School
Type
Grades
Distance
Charter - K to 5
Charter - 5 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Lynhaven Elementary School
CharterK to 5

Monroe Middle School
Charter5 to 8

Del Mar High School
Public9 to 12

Boynton High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Newmark Cornish & Carey, Justin Bautista, DRE #01268331

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.