Updated Dec 4, 2024
San Jose Developer Intelli Acquires Nova Alianca Hall For $2.4M With BUYER's Rep Do Van Tron & SELLER Sociedade Filarmonica Nova Alianca
37 North 27th Street
$2,400,000
Units
80
Asset Type
Special Purpose
Closing
Nov 2, 2023
About this deal
AI
San Jose developer Intelli, led by Do Van Tron, has acquired Nova Alianca Hall for $2.4 million. The property is located at 37 North 27th Street in San Jose and is classified as a Special Purpose asset. The sale took place on November 2, 2023. The seller of the property was Sociedade Filarmonica Nova Alianca.
Summary of transaction details:
- Property Type: Special Purpose
- Transaction Amount: $2,400,000
- Buyer: Intelli - Do Van Tron
- Seller: Sociedade Filarmonica Nova Alianca
David Taxin from Meacham Oppenheimer represented the buyer, Intelli, in the transaction. Intelli plans to leverage the property's proximity to a future BART station site and San Jose's support for high-density development near the 28th Street/Little Portugal BART station. They have envisioned building 80 units on the property, aligning with the city's goals for increased housing density in the area.
On the Map
$2,400,000
Special Purpose
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Players
San Jose Special Purpose Market Snapshot
Boundary boundary · Special Purpose · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93