26-Unit Apartment Complex Sells in Established Santa Clara Area for $4.5 Million

Justin Sieber, Jamie D’Alessandro and Brian Henry with Cassidy Turley’s Multi Family Group represented both Buyer and Seller in the sale of a 26-unit apartment complex on 0.86 acres in central Santa Clara for an even $4,500,000, equating to a price of $173,076 per unit. The two-story, garden-style complex was built in 1969 and is located at 1900 Scott Boulevard at the corner of Royal Drive, directly across from Scott Lane Elementary School. The unit mix is comprised of spacious 2 bed / 1 bath and 1 bed / 1 bath units with patios or balconies.

1900 Scott Boulevard is set in an established and growing residential area just a few blocks north of main thoroughfare El Camino Real and its multitude of retail, restaurant and other amenities. With convenient access to major roadways such as Central Expressway, San Tomas Expressway, Highway 101 and Interstate 880, the property is just minutes from many major Silicon Valley employers. The San Jose Airport and Santa Clara University are also within a mile and a half radius.

Sieber, D’Alessandro and Henry all represented the Seller, a private investor, and D’Alessandro and Henry also represented the Buyer, a private real estate company based in Menlo Park that was in a 1031 exchange from another 18 unit complex in Redwood City that Henry and D’Alessandro had sold for them.

West Coast Commercial Real Estate News