Updated Dec 20, 2023
Mario Wijtam's San Jose Multifamily Property Under Contract For $14M
975 Boynton Avenue San Jose, California 95117, USA
$14,000,000
Units
48
Asset Type
MultiFamily
Closing
May 31, 2023
About this deal
AI
Bay Area construction veteran Mario Wijtam is under contract to sell his San Jose apartment complex for $14 million. The 48-unit multifamily property, located in West San Jose, offers renovated units and is situated in a thriving market with high average rents exceeding $3,000 per month in San Jose.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Units: 48 ~ PPU: $291,667
- Seller: Mario Wijtam
- Market: San Jose
- Address: 975 Boynton Avenue
Mario Wijtam, a Bay Area construction veteran, is represented by his broker on this deal.
Players
San Jose MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93