2991-3001 Magliocco Drive

San Jose, CA 95128

$7,800,000
Price
Beds
16,962 Sq. Ft.
$460 / Sq. Ft.
16,962
Sq. Ft.
$460
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:...

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

Location

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

Property Details for 2991-3001 Magliocco Drive

StatusContingent - Show
MLS #ML81825743
Days on Market48
Taxes$105,687 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCOMM RI MULTI-UNITS 5+ / Other
Year Built1959
Lot Size0.64 AC / 28,069 SF
CountySanta Clara County

Listing Agent

Justin Bautista

Justin Bautista

Newmark Cornish & Carey

jbautista@aranewmark.com

P: 650.996.9384

DRE #01268331

Contact Agent(s)

Building Information for 2991-3001 Magliocco Drive

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

Payment Calculator

$34,947 per month

30 year fixed, 2.95% Interest

Principal and Interest

$26,140

Property Taxes

$8,807

HOA Dues

$0

Property Information for 2991-3001 Magliocco Drive

Features
    Features
  • Energy Features: Double Pane Windows
  • 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 Parking Features: Assigned Spaces, Covered Parking
Property Details
    Homeowners Association
  • HOA Amenities: BBQ Area, Common Utility Room
  • HOA Exists: 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
  • Cross Street: Winchester Boulevard
  • 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 Dr

DateEvent & SourcePriceAppreciation
Feb 4, 2021

Pending

EBRD #ML81825743

Feb 3, 2021

Contingent - Show

MLSListings #ML81825743

Jan 14, 2021

Listed (Active)

MLSListings #ML81825743

$7,800,000
DateEvent & SourcePrice
02/04/2021

Pending

EBRD #ML81825743

02/03/2021

Contingent - Show

MLSListings #ML81825743

01/14/2021

Listed (Active)

MLSListings #ML81825743

$7,800,000

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

Schools near 2991-3001 Magliocco Drive


SchoolTypeGradesDistanceRating
Monroe Middle SchoolCharter5-80.4 mi
4
Beginning Steps To IndependencePrivate0.6 mi
NR
Lynhaven Elementary SchoolCharterK-50.7 mi
5
Primary Plus Elementary SchoolPrivateK-80.9 mi
NR

Monroe Middle School

5-8, 0.4 mi, Charter

4

Beginning Steps To Independence

0.6 mi, Private

NR

Lynhaven Elementary School

K-5, 0.7 mi, Charter

5

Primary Plus Elementary School

K-8, 0.9 mi, Private

NR

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.

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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. No financial or legal advice provided. Equal Housing Opportunity.

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

Based on information from the San Francisco Association of Realtors as of 01/14/2021 12:00 AM, the MLSListings MLS as of 01/14/2021 12:00 AM, or the BAREIS MLS as of 01/14/2021 12:00 AM. MLS data is deemed reliable but is not guaranteed accurate by the MLS. Information is provided for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Information being provided is for consumers’ personal, non-commercial use and may not be used for any purposes other than to identify prospective properties consumers may be interested in purchasing. Data last updated on 02/05/2021 07:49 AM