Regency Towne Apartments | 1136 Brace Ave
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Regency Towne Apartments 1136 Brace Ave
15 Unit Block of Flats £4,734,000 (£315,600/Unit) 4.14% Net Initial Yield San Jose, CA 95125
Investment Highlights
- Prime Location: One block from Downtown Willow Glen
- Diverse Unit Mix: Catering to various tenant needs with a mix of 1-bedroom and 2-bedroom units
- On-Site Laundry: Convenience for tenants and an additional source of income for property owners
- Established Property: Well-maintained building with a solid rental history
- Income Generation: Pool and covered parking amenities enhance tenant satisfaction and rental income potential
Executive Summary
Located just steps away from downtown Willow Glen, 1136 Brace Avenue in San Jose is a rare investment opportunity with strong market fundamentals. This multi-family building was built in 1966 and is now on the market for the first time in over a twenty years.
Comprising fifteen (15) units, the property features amenities such as a pool, covered parking, and on-site coin-operated laundry facilities, catering to tenant needs and enhancing rental income potential. With its stable rental history and potential for value-add through strategic upgrades, investors can benefit from immediate cash flow and long-term appreciation potential in Willow Glen’s thriving real estate market.
Comprising fifteen (15) units, the property features amenities such as a pool, covered parking, and on-site coin-operated laundry facilities, catering to tenant needs and enhancing rental income potential. With its stable rental history and potential for value-add through strategic upgrades, investors can benefit from immediate cash flow and long-term appreciation potential in Willow Glen’s thriving real estate market.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£320,750
|
£22.19
|
| Other Income |
£1,077
|
£0.07
|
| Vacancy Loss |
£6,415
|
£0.44
|
| Effective Gross Income |
£315,412
|
£21.82
|
| Taxes |
£56,881
|
£3.93
|
| Operating Expenses |
£62,111
|
£4.30
|
| Total Expenses |
£118,991
|
£8.23
|
| Net Operating Income |
£196,421
|
£13.59
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £320,750 |
| Annual Per SF | £22.19 |
| Other Income | |
|---|---|
| Annual | £1,077 |
| Annual Per SF | £0.07 |
| Vacancy Loss | |
|---|---|
| Annual | £6,415 |
| Annual Per SF | £0.44 |
| Effective Gross Income | |
|---|---|
| Annual | £315,412 |
| Annual Per SF | £21.82 |
| Taxes | |
|---|---|
| Annual | £56,881 |
| Annual Per SF | £3.93 |
| Operating Expenses | |
|---|---|
| Annual | £62,111 |
| Annual Per SF | £4.30 |
| Total Expenses | |
|---|---|
| Annual | £118,991 |
| Annual Per SF | £8.23 |
| Net Operating Income | |
|---|---|
| Annual | £196,421 |
| Annual Per SF | £13.59 |
Property Facts
| Price | £4,734,000 | Building Class | C |
| Price Per Unit | £315,600 | Lot Size | 0.56 AC |
| Sale Type | Investment | Building Size | 14,457 SF |
| Net Initial Yield | 4.14% | Average Occupancy | 100% |
| No. Units | 15 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 1.38/1,000 SF |
| Apartment Style | Low Rise |
| Price | £4,734,000 |
| Price Per Unit | £315,600 |
| Sale Type | Investment |
| Net Initial Yield | 4.14% |
| No. Units | 15 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.56 AC |
| Building Size | 14,457 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1966 |
| Parking Ratio | 1.38/1,000 SF |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Storage Space
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Yard
- Garden
- Patio
- Window Coverings
Site Amenities
- Courtyard
- Laundry Facilities
- Pool
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 6 | £1,437 | 783 |
| 2+1.5 | 7 | £2,071 | 1,122 |
| Studios | 1 | £1,176 | 596 |
| 2+2 | 1 | £2,363 | 1,122 |
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Walk Score ®
Very Walkable (89)
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | £3,611,660 (2023) | |
| Land Assessment | £856,500 (2023) | Annual Taxes | £56,881 (£3.93/sf) |
| Improvements Assessment | £2,755,160 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£856,500 (2023)
Improvements Assessment
£2,755,160 (2023)
Total Assessment
£3,611,660 (2023)
Annual Taxes
£56,881 (£3.93/sf)
Tax Year
2024
zoning
| Zoning Code | R-3, San Jose (Residential, Multi-Family) |
| R-3, San Jose (Residential, Multi-Family) |
-
Bob Taylor -
Kristine Lyng -
Taylor Properties
(650) 322-4433
x111
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Regency Towne Apartments | 1136 Brace Ave
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