SCOTIA Apartments
Size: 55 units
Price: Open Bid

The Azucena Group of Marcus & Millichap in a partnership with Institutional Property Advisors as the exclusive listing agents, are pleased to present SCOTIA Apartments. SCOTIA Apartments represents the opportunity to acquire a recently constructed, 55-unit, 100% market rate multifamily community located in San Jose, California, the “Capital of Silicon Valley.” Thoughtfully designed and constructed in 2020, the property is ideally located in the premier Willow Glen neighborhood, offering a surplus of favorable urban lifestyle amenities with convenient access to industry-leading employers in downtown San Jose and greater Silicon Valley.

SCOTIA Apartments has a unit mix that consists of (1) 1 Bedroom / 1 Bathroom that are 878sq ft and (54) 2 Bedroom / 2 Bathroom that are 1,096 sq ft. The property sits on a 0.97acre (or 42,253 sq ft) lot. Among the shared amenities are a clubhouse, fitness center, courtyard, and on site dog park.

Located in San Jose’s highly sought-after Willow Glen neighborhood, the property benefits from proximity to a surplus of lifestyle amenities. Willow Glen is known for its tree-lined streets, charming small-town feel, and vibrant downtown district with over 250 shops and restaurants. Owned and operated by private management since its inception, SCOTIA is primed to capture significant loss-to-lease. Additionally, return-to-office announcements by key employers such as Apple, Google, and Microsoft will continue to drive rental demand in the short term, allowing future ownership to achieve outsized returns with little to no capital risk. Furthermore, given escalations in hard costs, entitlement costs, and current affordability requirements, SCOTIA is available at a discount to replacement costs.

Property Highlights

  • Boutique Community with Vibrant Amenity Spaces & Superb Attention to Detail

  • Expansive Garden Courtyard with Communal Lounge Areas, Fireplace & Gas BBQs

  • Elegant Clubhouse for Entertaining with Kitchen, Billiards, Media Center & Folding Doors that Open to the Courtyard

  • Spacious front lobby with Work and Entertainment Flex Space

  • Controlled access parking garage with EV charging

  • Fully-equipped fitness center

  • Bike barn storage room with repair equipment

  • Convenient dog park

  • Parcel package locker system

  • Minutes from Historic Willow Glen & Downtown San Jose