Needed: Officeless Sand Hill Venture Capitalist

There are few opportunities in commercial real estate on the Peninsula to take advantage of these days.  Yes, the national news in office, retail and hospitality is depressing.  But, we know different in the heart of Silicon Valley.  Office vacancies are bearable here, in fact, some major employers are taking massive space - Apple and Facebook to mention just two.
Retail is healthy on the Peninsula - low unemployment and healthy salaries support retail sales and we don't see too much retail turmoil.
Hotels are coming back.  This tends to be more a national issue compared to the more localized retail and office markets.
And the opportunity of the day is an office building adjacent to Sand Hill Road with rare financial distress that would be a great purchase for a venture capital group, law firm, medical group or...?  Stop paying $6 per foot for 1960's era office space and own much better space for less. Call us for details.

Short Sale Duplex in Downtown San Jose for Sale

There is a very well priced short sale duplex for sale in downtown San Jose. One 2 bedroom and 2 bath owner's unit, one 2 bedroom and 1 bath rental unit and a small storefront on the corner of N. 9th Street. Offered at a very attractive price of $171 per square foot!  Breaking $200 per foot in this area is already very good.
This will make for a strong rental investment property or great owner-user home.  Conventional Fannie Mae or Freddie Mac financing is also available.  Call us to set up a tour of this great short sale duplex in downtown San Jose.

Blossom Valley San Jose Short Sale Duplex for Sale!

 

Blossom Valley duplex short sale for sale - large units, great condition, excellent rental or owner-occupied location.  A $500,000 price point for this large of a duplex is an excellent deal. It is 2,599 square feet, 8,400 square foot lot and was built in 1979. Duplexes have great low density which means longer term tenancies on average and a better ownership experience.  Call us to see this property right away before it goes away.

San Jose Approved Short Sale Fourplex

One of best owner-occupied quality fourplex streets is available for sale as an approved short sale with Bank of America.  Offered at less than $200 per foot!  3 bedroom 2 bath owners unit delivered vacant.  The remaining three units are 2 bed, 1.5 bath.  This property will sell fast!  Actually it was in escrow the buyer's loan did not come through.  So, talk to us about this great deal and also about a great lender who can get the financing done.

Guardino Drive Fremont Condo Short Sale Coming Soon

Great investment or first time home buyer property near the Bart station in Fremont on Guardino Drive for Short Sale coming soon!  One bedroom, one bath unit, 693 square feet of living space, built in 1987, pricing should be in the $150,000 range - subject to bank short sale approval.  Very nice ground floor unit in a modern and well-located complex.  With interest rates at all time lows, this is a great opportunity to buy your own home or next investment property.  Call us to set up an appointment on this Fremont short sale.

Apartment Notes for Sale Los Angeles

We have direct access to over 10 apartment building notes that are for sale in Los Angeles County.  For more details, please contact me.  These are in various stages of distress - from temporary loan mods to final stages of BK.  Also, there are a variety of locations and sizes from 5 units to over 30 units.  Buying a Note from a bank does not in any way guarantee you that you will own the property.  But with the right strategy and flexibility in place, it can be a great investment.  Let us know if you want to sit down and review buying commercial or non-performing notes to buy.
Also check out out sites in LA: bankownedcommercialpropertylosangeles.com & losangelesinvestmentrealestate.com for more deals.

Commercial Real Esate San Jose

The commercial real estate market in Silicon Valley / San Jose is healthy - in parts.  We at the MPIRES group are working with retail tenants looking for space, office users, landlords leasing commercial properties and investors looking to buy retail, office and multi-family properties.  Overall, the San Jose metro is far healthier than the rest of California or the nation.

In core retail areas with good demographics, retailers are looking to occupy spaces to engage with the household incomes that surround the buildings.  Office users such as the many high tech companies that built the valley are looking to take space for future or immediate expansions.  Companies that support or are off-shoots of the big players (Apple, HP, Cisco, etc) are also looking to take space near their suppliers and customers.

Residential rents are up for a variety of factors (the rash of foreclosures, lack of good first time home buyer financing and an influx of new hires into the area).  This makes valuations on apartment buildings not very attractive to investors.  But they are great cash flow vehicles for the existing landlords.  Though, there are some very good opportunities in single unit rentals up to 4plex properties.

The commercial real estate market in Silicon Valley / San Jose has had its movements over the last few years.  We are here to guide you in whatever goal you want to achieve.

Church Property for Sale San Jose

One of the most difficult properties to find in Silicon Valley is a facility that will have all the requirements for a church or place of assembly.  There currently are a couple properties that are available with the right parking, zoning, location and size to fit the needs of a congregation.
One property is 25,000+ square feet, with 4/1,000 parking ratio for $3.3M in San Jose.  These opportunities come once in a blue moon.  For more info, please contact us to tour this potential church property in San Jose.

My Guys at CS Commercial Score Again!

Did I mention I have great commercial financing sources?  Chris Farlow and Brett Twente are my lenders of choice from CS Commercial.  They just closed financing on a 14 unit apartment building purchase loan for a client in San Mateo.  Chris has been in the business for 10+ years and is an expert at placing loans with the right wholesale lender depending on a variety of factors - condition, location, equity, cash flow, REO, class, property type, etc.  Not one bank can finance all of your commercial lending scenarios.  Chris is the best choice because he can find the right bank to finance your next investment property - wherever and whatever it is.

San Jose Dental Office Condo for Sale with Equipment!

$450,000 for a fully equipped dental office commercial condo is for sale in San Jose.  This space was recently operated by a dentist who closed the office.  It is now available for sale at a very attractive price. If you are in the dental industry, it is evident how expensive it is to build out a dental office with plumbing,equipment and all the health regulations. Let us show you this stunning space for your practice.

4 Fourplexes - 3 Short Sales & 1 REO in Silicon Valley for Sale

We like these:

Santa Clara - 4plex - short sale - 3,177 square feet, built in 1962, pre-approved short sale at $665k, 12.3 GRM
Campbell - 4plex - short sale - 3,328 square feet, built in 1962, short sale with offers submitted but not ratified yet - deliverable at approximately $650k, 11.5 GRM
Santa Clara - 4plex - short sale - 3,177 square feet, built in 1962, pre-approved short sale at $630k, 12.7 GRM
Santa Clara - 4plex - Bank REO - 3,120 square feet, built in 1962, vacant property, needs contractor skills to rehab this property.

There are some very good opportunities to invest in foreclosed and short sale 4plexes in the valley right now.  All 4 of these properties sold at or above $900,000 a few years ago.  Most will cash flow with 25% down payment.  IRRs in the 10%+ range before tax.  Some with cap rates approaching 6%.  Let us run the numbers for you and show you how these properties can increase your net worth.

Distressed Menlo Park Medical Office Condos for Sale

We are tracking a new construction development in Menlo Park built for commercial medical office condos which is in pre-foreclosure.  Excellent location and well constructed building for medical office users who want to own their own space.  The development has been on the market for a while and now the construction loan is nearing foreclosure status. This is a good opportunity for an owner-user or investor to own a very costly to replace asset in the mid-Peninsula.  Call us for details.

San Jose Silver Creek Office Space for Lease

KW Commercial Cupertino just listed 4,400 square feet for lease of free standing office space at 6140 Hellyer Avenue in San Jose's Silver Creek area.  Fully built out as offices with the following amenities:

8 private offices
6 cubes
Large conference room
Kitchen
Server room
Lots of furniture included!

All of this for $1.00 per foot Modified Gross lease. This space is very well upgraded and high end. Call us to tour.

Investment Condo Deal of the Week in Oakland

Short sale of newer condo in Oakland.  It has been rented for almost last two years for $2,000 per month. Now being offered for short sale at $95,000!  Home Owner Association is in litigation, so financing is very difficult.  Best option is to buy this home all cash and keep the tenant. Hurry - this will go fast at this price.  Bank of America short sale with only one loan!

Steve Jobs Presents New Apple Campus in Cupertino to City Council

Bank Owned Commercial Condo for Sale San Mateo County

We are tracking a commercial condo coming for sale on the Peninsula in San Mateo County. This property will soon be bank owned.  It is over 3,000 square feet, mostly warehouse space in an industrial park in north San Mateo county.

This property would be ideal for an owner user who has an industrial use business to serve San Francisco and the Peninsula. Call us for details 415-269-6249.

Case-Shiller Index of Housing Prices - Double Dip?

The headlines today about the Case-Shiller Housing Index do not reflect what is going on in the Silicon Valley market.  Read the data from the actual Case-Schiller tables via this link. The bottom of the single family housing market for Santa Clara County is essentially March 2009.  The data that was released today is about March 2011 - the Index has a two month lag time so that the data can be compiled. Seasonally adjusted index for the San Francisco region is 134, compared to two years ago of 121. We are significantly positive over the last two years.  Also, consider that the data is for the SFO region which takes into account some more severely impacted areas of the East Bay.  If the data were strictly for Santa Clara County, the numbers would be even better.
Now this is not necessarily a rah rah of the Valley - when considering a purchase or a sale of real estate, we want to take into account all the possible factors - it's not just about price! 

Six short sale apartments for sale in San Jose

These three duplexes and three fourplexes are very good opportunities to buy investment properties at low prices and with a strong rental market.

765 Blossom Hill - duplex San Jose 95123 area - $580,000 short sale. 3 bedroom, 2 bath unit and 2 bedroom, 1 bath unit, 2,332 square feet of living space.
149 Adler, Campbell - no rent control - 4plex, asking $775,000, regular sale, 3,747 square feet, very well maintained building, double pane windows, garages per unit, newer comp roof, regular sale! - this is a nice deal.
581 Nello Drive, Campbell 4plex, 3,957 square feet, $750,000, short sale, very nice condition property at end of 4plex neighborhood development. Two three bedroom units and two two bedroom units.
2095 Lynnhaven Drive, San Jose duplex, 95128, short sale $470,000, 1,790 square feet, nice owner occupant unit with larger unit in the back. Great west valley location.
1332 White Drive, Santa Clara duplex, $499,000, 1,476 square feet, very good El Camino & San Thomas Expressway location, short sale, great rental property.
620 Gamma Court, built in 1977, 4plex short sale, very well constructed, extra parking, larger pie shaped lot, $699,000, 3,510 square feet.

Call us today to talk about which apartment investment in the San Jose area is best for you.

Do You Need to Sell Short?

There are many alternatives to someone who owns a home and cannot make their payments.  One of the options is to request a short sale from the bank.  Some of the other options are bankruptcy, foreclosure, loan modification, refinance, deed in lieu and  more. Everyone's situation is different depending on all factors involved.  A personal residence has certain criteria involved, as does a property held for investment and furthermore, was the loan a purchase money loan or a refinance.  All these factors influence the situation and a solution is not cookie cutter for all.

Many people in the last 5-10 years find themselves owning a home that is now worth less than what they paid for it and possibly less than what is owned on the property.  Others people have loans that have adjusted to payment levels that are unaffordable.  This, coupled with a drop in equity, makes a refinance highly unlikely.  But there are solutions!

Credit is also a concern for many people.  Does a short sale have less negative impact on your FICO score than a foreclosure or a bankruptcy?  But what other factors also impact your credit score?  Late payments compounded month after month will have significant negative effect on your FICO score. This may negate the gravity of a short sale/foreclosure question.

What your home is worth is also a very important factor.   In Santa Clara County alone, there are sub-markets that are very healthy and prices are rising and there are sub-markets that are quite weak.  Your home's value will impact the decision whether to short sell, modify the loan or any of the other options discussed above.

An important step in this process is to sit down with an experienced Realtor to review all your options.  Even if you have received a Notice of Default or a Notice of Trustee Sale, there still may be time to enact a better solution.  Feel free to email  me or call anytime:

Mario Pinedo,CCIM
Keller Williams Realty
DRE 01118365
cell 415-269-6249
mariopinedo@kw.com
Serving buyers and seller since 1991.

For further articles on this topic, I have linked all the short sale articles here.

Cupertino Elementary & High Schools Maps & Boundaries

If you want the best links to the schools of Cupertino and Sunnyvale within the Cupertino Union School District & the Fremont Union High School District, please click below:

Cupertino Union School District Map

Cupertino Union School District Street Finder

Fremont Union High School District Map

Fremont Union High School District Street Finder

Not to confuse those who live in the City of Fremont in Alameda County... but the Fremont Union High School District is located in the Cities of Cupertino and Sunnyvale. The high schools are Cupertino High School, Fremont High School, Homestead High School, Lynbrook High School & Monta Vista High School.

If you want excellent advice on what home to buy in these areas, please call me at 415-269-6249. I have been selling in Cupertino and throughout the Silicon Valley since 1991. I will be very glad to take your call.