Investment Info:
Single-family residence buy & hold investment in San Jose.
Purchase price: $740,000
Cash invested: $180,000
Contemporary Loft Located at Plant 51
Being built well over a hundred years ago, the historic Plant 51 cannery has been reawakened as a new residential community of lofts and flats. Plant 51 features a modern combination of living spaces and outdoor ambiance that bring together stunning architecture and unique style. From the lush green landscaped courtyards with water features, to the ample open-air dining spots and the intimate outdoor fire pit, Plant 51 is a hidden gem tucked away in the heart of Silicon Valley and downtown San Jose.
Plant 51 is a secured building with secured parking. This unit comes with 2 tandem parking space. Outdoor features include a large BBQ area with wet bar, the Boiler Room is a two-story brick warehouse space that has been converted into a modern gym with state-of-the-art fitness and cardio equipment. Located inside the Boiler Room is also a fitness studio. Opening onto the courtyard is the Mezzanine Lounge, an indoor space to meet up, and is known to be center of the Plant 51 community. Another unique feature is known as, The Bicycle Kitchen. The Kitchen is a room for specifically for resident's bikes and is equipped with everything you need to store, repair and maintain your bike.
Walking distance from Plant 51 is Cahill Park. Park has everything from basketball courts to a playground, with plenty of grass space to enjoy. Transportation options are in an abundance, with VTA Light Rail and Caltrain just steps away. Located at the end of Bush Street is a brand-new Whole Foods Market and brewery. Be enticed with all that Downtown San Jose has to offer just a few blocks away. Restaurants, bars, theaters, concerts and sports at the HP Pavilion just to name a few.
What made you interested in investing in this type of deal?
This property is located next to Google's proposed campus in San Jose and complex is in high demand .
How did you find this deal and how did you negotiate it?
I'm a local realtor and got into contract closed and had instant 100k in equity .
How did you finance this deal?
I did 25% down
What was the outcome?
Property is currently valued at $1,075,000
