1278 Calle Oriente
Size: 4 Units
Price: $1,598,000

The Azucena Group of Marcus & Millichap is pleased to present the opportunity to acquire 1278 Calle Oriente, a four unit multifamily property in Milpitas. This is a tremendous opportunity for an investor to acquire a property in one of the most sought after markets of the Silicon Valley. Particularly given its location between North San Jose and Fremont.

1278 Calle Oriente is a four-unit apartment located in the northeastern area of Milpitas. The unit mix consists of (2) 1 bedroom / 1 bathroom and (2) 2 bedroom / 1 bathroom. The property sits on a 0.21 acres (or 9,000 SqFt) lot. Among the amenities offered are washer and dryer hook-ups avalible in every unit along with designated carports. The property has undergone extensive renovations, including concrete work around the building and upgrades to most units, featuring new flooring and copper plumbing.

Residents enjoy a prime location with convenient access to North San Jose, and the Tri-City area of Fremont, Union City, and Newark. Within walking distance is Jacklin Square, featuring around 15 shops, restaurants, and services. The Great Mall and McCarthy Center are just a short drive away. For commuters, the location is ideal, with easy access to I-680, facilitating quick travel to major employers like Tesla and Seagate Technology. Public transportation is also conveniently close, with VTA Light Rail stations on N. Capitol Ave and Great Mall Parkway, along with the Milpitas BART station, just a short drive away.

Its location between North San Jose and the Tri-City area while surrounded by some of the largest tech companies in the world makes property in Milpitas highly sought after. High demand and limited space have resulted in the average home price being over $1.3 million (as of May 2024). The price along with current interest rates and intense competition places homeownership out of reach for most residents, creating a robust tenant base.

Property & Location Highlights

  • Milpitas offers a unique living experience while being located in the core of Silicon Valley by being adjusted to North San Jose and Fremont, home to some of the largest tech companies in the world.

  • Western Digital and Cisco’s main campus are 15 min away.

  • Residents are close to Tesla and Seagate Technology in Fremont.

  • Samsung’s San Jose office is a short drive away.

  • Property has undergone extensive concrete upgrades around the building and parking lot.

  • Units 1, 3, and 4 have been updated with new flooring and copper plumbing.

  • Roof was replaced in 2005 with steel tiles that have a life expectancy of 40 to 70 years.

  • Washer and dryer hook-ups available in every unit.