Description

Jones Lang LaSalle (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire Aviara Apartments (the “Property”) – a premier 46-unit, garden community located in the dynamic San Jose market. Built in 2012 and conceived as condominiums, Aviara represents a rare opportunity to acquire a pride-of-ownership asset of institutional quality, featuring high-end amenities such as a fitness center, spa, and secure underground parking that are typically found in much larger communities.

The Property offers investors a compelling Core-Plus opportunity with a clearly defined and proven value add strategy. Current ownership has successfully renovated 27 units with modern finishes, achieving significant rent premiums and establishing a clear path to generating additional income. A new owner is perfectly positioned to continue this successful renovation program on the remaining 19 “Classic” units, immediately unlocking the embedded rental upside.

Situated in one of the nation’s most resilient and tech driven job markets, Aviara attracts a high-quality tenant base of young professionals with an average household income exceeding $150,000. The Property’s attainable rent levels, combined with its modern design and luxury amenities, make it a highly desirable option in a market with a limited new supply pipeline. Aviara offers the ideal combination of in-place cash flow, proven upside, and a strategic location, making it an exceptional investment in the heart of Silicon Valley.

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