This 88-unit garden style multifamily asset consists of two and three-bedroom townhome style units, located amongst 15 buildings situated along 4.65 acres of land. The property is minutes away from Tesla, Fremont’s largest employer which plans to add 3,100 jobs in their future 4.6 million square foot facility. The property had been under the same ownership for over 40 years with minimal capital improvements in recent years creating an opportunity for a heavy value-add reposition of the asset both physically and operationally in a submarket with some of the best supply and demand fundamentals on the west coast. Fremont’s strong economic drivers, low vacancy levels and rapidly growing rental demand coupled with the value-add business plan make this an ideal long-term investment.
- No. of Units 85
- Acquisition Price $26,500,000
- Total Capitalization $31,500,000